Based x Ethena

We’re happy to announce a strategic investment from Ethena.

This marks the first step in our partnership to accelerate USDe adoption across the Hyperliquid ecosystem.

We think USDe can play a key role in the Hyperliquid ecosystem, and want to be a conduit through which that can happen.

At Based, our mission is to build the best platform for people to trade and spend crypto.

Based is currently one of the largest trading platforms on Hyperliquid. Today, Based accounts for nearly 7% of Hyperliquid’s 24h global Hyperliquid perp volume with our builder code exchange.

We also issue debit cards for people to spend stablecoins anywhere around the world.

By working closely with Ethena, we aim to deliver a better experience for traders to trade on Hyperliquid and explore real-world use cases for stablecoin payments with USDE.

More information about how we are working together will be shared in the coming months.

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