Catenaa, Sunday, March 01, 2026- Based, a Web3 consumer SuperApp for trading and spending crypto, announced an $11.5 million Series A funding round led by Pantera, with participation from Coinbase Ventures, Wintermute Ventures, and Karatage.
The capital will support global expansion, deepen on-chain financial infrastructure, and position Based as a gateway to the Hyperliquid ecosystem.
Based’s platform unifies perpetual trading, prediction markets, and real-world crypto spending through a live crypto card and seamless interface.
Launched eight months ago, it has grown to over 100,000 registered users and 30,000 monthly active users across five regions, generating approximately $40 billion in cumulative trading volume.
CEO Edison described the platform as a one-stop solution allowing users to invest globally and spend locally, avoiding the fragmentation typical of existing crypto tools. Based is built natively on Hyperliquid, providing institutional-grade speed and liquidity with a consumer-friendly interface.
Pantera’s Jay Yu noted that Based functions as the leading gateway to Hyperliquid, with founders Edison and Zac combining entrepreneurial drive with execution capability to scale in a competitive market.
Beyond its consumer product, Based extends its infrastructure to third-party trading venues, including HyENA, a Hyperliquid-native perpetuals platform that processed over $1.5 billion in volume shortly after launch. The company’s modular architecture allows partners to leverage its core stack for their own products.
Based aims to become the default financial app for on-chain users worldwide, offering integrated trading, earning, and spending capabilities while supporting a composable ecosystem for partners and developers.
