A Series A round led by Pantera has secured $11.5 million for Based, a Web3 consumer app for trading and spending cryptocurrency. Coinbase Ventures, Wintermute Ventures, and Karatage have all contributed to the fund.
The new funding, according to the company, will be utilised to develop its onchain financial infrastructure and enter new markets.
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.
“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.”
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