Based Raises $11.5M Led by Pantera and Coinbase to Build the Definitive On-Chain SuperApp

We are pleased to announce that Based has successfully closed an $11.5 million funding round to build the next generation of on-chain finance.

The round was led by Pantera Capital, with participation from Coinbase Ventures, WMT Ventures, and Karatage. This funding will accelerate Based’s growth as the crypto SuperApp where users can trade everything and spend everywhere, while rolling out our next three product verticals.

Just eight months ago, we began our journey within the Hyperliquid ecosystem with the goal of creating the first omni-channel trading experience. Today, Based serves over 30,000 monthly active users (MAU) and has achieved significant milestones:

1. Trading Volume: $39B+ processed across web and mobile platforms

2. Hyena Exchange (HIP-3): $1.5B in trading volume and $50M in Open Interest since launch

3. Prediction Markets: Approximately $18M in trading volume within just a few months

4. Crypto Debit Cards: $20M+ spent in real-world transactions since inception

In the next phase, we will widen the gap with the launch of Basedmall to drive growth and retention, the development of proprietary trading infrastructure, and expanded enterprise deployment of Based Cloud.

With a strong consumer-first focus, the future is Based.

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