Based , a Web3 consumer app for trading and consuming crypto, has raised $11.5 million in a Series A round led by Pantera, with participation from Coinbase Ventures, Wintermute Ventures and Karatage.
The company said the fresh capital will be used to expand into new markets and build its onchain financial infrastructure.
Launched eight months ago, Based combines perpetual trading, prediction markets and real-world crypto spending in 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.
In addition to its app, Based is also expanding 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 ordinary people who want a complete on-chain financial life,” the co-founder and CEO, who goes by Edison, said in a press release shared with CoinDesk. “We’re building based so that anyone, anywhere, can access global markets and also use those funds to buy things they actually need without jumping through hoops.”
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