Coinbase Ventures is expanding its investment portfolio in the perpetual contracts sector, with a notable focus on Reya, a decentralized exchange (DEX) built on Ethereum Layer 2 using Arbitrum Orbit. Reya, which positions itself as "Ethereum for traders," aims to leverage Ethereum's composability by integrating with existing DeFi projects rather than creating its own Layer 1 ecosystem. Reya has secured $16 million in funding from prominent investors including Framework Ventures, Wintermute, Amber Group, and Robot Ventures, with personal backing from Aave founder Stani Kulechov. The platform has achieved significant trading volumes, with a 24-hour volume of $448 million and a 30-day volume of $37.23 billion, ranking sixth among perpetual DEXs globally.