Pantera leads $11.5M round in Based, a Hyperliquid-powered crypto app
TL;DR
Based, a Web3 crypto trading and spending app, raised $11.5M in Series A funding led by Pantera. The funds will expand markets and build onchain infrastructure, combining perpetuals, prediction markets, and real-world spending in one interface.
Key Takeaways
- •Based raised $11.5M in Series A funding led by Pantera, with participation from Coinbase Ventures, Wintermute Ventures, and Karatage.
- •The app integrates perpetuals trading, prediction markets, and real-world crypto spending into a single consumer-focused interface.
- •Built on Hyperliquid's execution environment, it aims to offer institutional-grade speed and liquidity for everyday users.
- •Funding will be used to expand into new markets and enhance onchain financial infrastructure.
- •Based is extending its technology to power third-party platforms like HyENA, a Hyperliquid-native perpetuals venue.
What to know:
- Based, a Web3 consumer app for trading and spending crypto, has raised $11.5 million in a Series A round led by Pantera, with participation from Coinbase Ventures, Wintermute Ventures and Karatage.
- The company said the fresh capital will be used to expand into new markets and build out its onchain financial infrastructure.
- Based combines perpetuals trading, prediction markets and real-world crypto spending into a single interface.
- Based, a Web3 consumer app for trading and spending crypto, has raised $11.5 million in a Series A round led by Pantera, with participation from Coinbase Ventures, Wintermute Ventures and Karatage.
- The company said the fresh capital will be used to expand into new markets and build out its onchain financial infrastructure.
- Based combines perpetuals trading, prediction markets and real-world crypto spending into a single interface.
Based, a Web3 consumer app for trading and spending crypto, has raised $11.5 million in a Series A round led by Pantera, with participation from Coinbase Ventures, Wintermute Ventures and Karatage.
The company said the fresh capital will be used to expand into new markets and build out its onchain financial infrastructure.
Launched eight months ago, Based combines perpetuals trading, prediction markets and real-world crypto spending into a single interface. Built natively on Hyperliquid’s execution environment, the platform seeks to pair institutional-grade speed and liquidity with a consumer-focused experience.
Beyond its app, Based is also extending its technology stack to power third-party venues such as HyENA, a Hyperliquid-native perpetuals platform.
“Most crypto products today are built for traders or builders, not for everyday people who want a complete financial life onchain,” said co-founder and CEO who goes by Edison, in a press release shared with CoinDesk. “We’re building Based so anyone, anywhere can access global markets and also use those funds to purchase things they actually need without jumping through hoops.”
Read more: Bitcoin will 'massively' outperform gold over 10 years, says Pantera's Dan Morehead
- Solana Company is set to build the "Pacific Backbone," a low-latency infrastructure network connecting Seoul, Tokyo, Singapore, and Hong Kong to support staking, validation, and trading services.
- The initiative targets institutional demand across Asia-Pacific, offering DeFi tools, liquid staking, and execution services designed for traditional finance firms entering the crypto space.
- The project begins immediately with performance optimization and product launches expected within 12-18 months.
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