Based Expands Its Web3 Consumer SuperApp
Based, a Web3 consumer SuperApp, has raised $11.5 million in Series A funding. The round was led by Pantera Capital with participation from Coinbase Ventures, Wintermute Ventures, and Karatage.
The funding will accelerate Based’s expansion into new markets and enhance its on-chain financial infrastructure. The goal is to scale the platform into the default financial app for on-chain users worldwide.
Co-founded by Edison, CEO, and Zac, CTO, Based offers a unified experience for trading, spending, and staking crypto. Users can access Hyperliquid’s spot and perpetual futures markets. Advanced order types, including trailing stop losses and automated take-profit/stop-loss executions, are supported.
“With Based, anyone anywhere can invest globally and spend locally,” said Edison. “Most crypto products today are for traders or builders, not for everyday users. We’re building one app to trade, earn, and spend seamlessly.”
Unified Trading, Spending, And Staking
Based’s platform combines multiple channels: web, mobile, and Telegram. Users retain full ownership of their crypto assets with a self-custodial wallet. Staking services allow delegation of tokens and tracking of validator rewards through the app.
For spending, the Based Visa card enables crypto transactions at over 70 million merchants worldwide. The platform also integrates AI-powered fraud detection and Fireblocks’ institutional-grade infrastructure for secure trading and payments.
Eight months after launch, Based has grown to more than 100,000 registered users and 30,000 monthly active users across five regions. The platform has generated roughly $40 billion in cumulative trading volume. Total revenue is reported at nearly $14 million.
“Based reflects a shift in how users engage with crypto,” Edison added. “Users no longer toggle between fragmented tools. They trade, earn, and spend within a single curated experience.”
Hyperliquid Infrastructure Powers Performance
Built on Hyperliquid’s high-performance execution environment, Based combines institutional-grade speed and liquidity with a consumer-grade interface. Hyperliquid enables both spot and perpetual futures trading and supports complex order types.
“Hyperliquid is building a house for all of finance,” said Jay Yu, Junior Partner at Pantera. “Based is the front door, the leading gateway to trade everything and spend anywhere. Edison and Zac have the vision and grit to win in this competitive market.”
In addition to its consumer app, Based is extending its core stack to power third-party trading venues. This includes HyENA, a Hyperliquid-native perpetuals venue that has processed over $1.5 billion in volume within months. The modular architecture demonstrates scalability and reusability across partners and products.
AI-Driven Commerce And Market Expansion
Based plans to expand its AI-driven “agentic commerce” business. This feature enables more intelligent automation of trading and spending workflows. The Series A funds will support expansion into North America and additional global markets.
The company’s composable SuperApp model allows users to trade on-chain markets and access real-world financial utility seamlessly. Its infrastructure is modular, enabling partners to integrate Based’s core services into their own products.
By combining speed, reliability, and a user-centric interface, Based is positioning itself as a one-stop platform for on-chain financial services. It addresses challenges that arise from fragmented tools and inconsistent access to markets, enabling both new and experienced users to manage crypto efficiently.
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A Growing User Base And Vision
Based has quickly gained traction since its launch. Its platform unifies trading, spending, and staking, while providing reliable, secure, and fast execution. The company is now targeting over 100,000 monthly active users and aims to become the go-to financial SuperApp for on-chain users globally.
“Our mission is simple,” Edison concluded. “Trade everything, spend everywhere. One app that connects users to the full potential of the on-chain economy without friction.”
The Series A investment positions Based to scale operations, accelerate product development, and expand its market presence. With growing adoption, the company expects to enhance both user experience and institutional-level infrastructure.
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