We have completed the patch for a mechanics issue on Based Alpha that was discovered yesterday. The issue affected 23 pre-bonded tokens that graduated between 18:00 and 21:00 UTC on 18 July 2026.

Testing is complete and monitoring continues. Token creation on Based Alpha has been re-enabled, and creators can start launching coins again.

The issue was isolated to Based Alpha, our newly launched product on Robinhood Chain. All other Based products, including the Based App, trading terminal, and Visa Card, were never affected.

As promised, every affected user will be made whole. We reconstructed the state of all 23 affected curves at the block immediately before the issue. Each curve held a real, finite pool of ETH backing its token. Compensation is based on each wallet's pro-rata share of that actual pre-issue ETH backing, distributed by token balance. This means every affected user receives their exact share of the real ETH that was held on the curve.

On top of this, we are adding a 50% bonus for compensation. If your share of the backing before the issue was 0.1 ETH, 0.15 ETH has been sent directly to your address. No claim is required.

Thank you for your patience. Based Alpha is in rapid development. We need to build fast to win in this market. If you spot a bug, tell us as soon as possible. As a token of gratitude, we have awarded a bounty to the first person who reported this one.

We remain committed to growing Based Alpha. Over the last 24 hours the team focused on security, testing across every area of the app.

Next, we will launch an incentive program to bring creators and traders to Based Alpha.

More on this soon.