I. Project Introduction
1. What Is Based?
Based is an application for trading and spending cryptocurrency. Users can trade spot and perpetual futures on Hyperliquid, access hundreds of prediction markets via Polymarket, and spend at merchants worldwide using the Based Visa card.
2. How Does Based Operate?
Based is dedicated to building a trading layer that unifies cryptocurrencies, stocks, and commodities under a high-performance interface powered by Hyperliquid. Key features include:
* Perpetual Futures and Spot Trading: Offers a CEX-grade trading interface, support for 100+ assets, self-custody wallets, and mobile optimization.
* Prediction Markets: Integration with Polymarket, allowing for direct predictive betting on the platform.
* Real-World Spending: The launch of the Based Card (a Visa card), supporting crypto spending at over 90 million merchants globally.
* Others: Automation tools, stock trading, referral/livestream rewards, and ecosystem features like blind boxes/NFTs (BasedPal); the platform is also evolving toward an AI-agent-driven financial OS.
3. Who Created Based?
Edison Lim: Co-founder and CEO of Based and Suberra. Holds a Master’s degree from Carnegie Mellon University and a Bachelor of Science from Singapore Management University. Previously served as Engineering Lead at Zilliqa and Tech Lead at Alta Exchange. LinkedIn Profile:
https://www.linkedin.com/in/edisonljh/.
Zac L.: Co-founder & CTO of Based and Suberra. Formerly a Software Engineer at Lazada Group and RedMart. LinkedIn Profile:
https://www.linkedin.com/in/zaclerzc/.
Jun Hao Lim: COO of Based. Previously worked at Suberra and Trafigura. LinkedIn Profile:
https://www.linkedin.com/in/jun-hao-lim-95a8039b/.
January 2022: Based raised $2.7 million. Investors included Hashed, DeFiance Capital, Delphi Labs, and Spartan.
September 2025: Based secured $4 million in a Strategic round, with Ethena as the investor.
February 2026: Based completed an $11.5 million Series A round, led by Pantera Capital, with participation from Coinbase Ventures, Wintermute Ventures, and Karatage.
4. Based Tokenomics
The total supply of BASED tokens is 1 billion, with the allocation as follows:
Genesis Distribution: 36% (23.5% for Season 1 and Season 2 community participants, PUP holders, BasedPal NFT holders, and TGE launch partners; 7% for the Ethena community; 5% for Season 3 participants).
Ecosystem & Community Rewards: 23.64% (managed by the Based Foundation).
Investors: 20.36% (1-year lock-up + 2-year monthly linear vesting).
Core Contributors: 20% (1-year cliff, followed by a 2-year monthly linear vesting).
5. Timeline & Key Milestones
October 2025: Based launches "Based Streams," a livestreaming platform powered by Hyperliquid.
March 2026: Based tweets that V2 is live, featuring a rebuilt mobile experience optimized for performance and reliability, supporting the product expansion required for a "super app."
March 30, 2026: The Based (BASED) token begins trading.
II. Token Information
1) Basic Information
Token name: BASED (Based)
III. Related Links
Website:
https://based.one/
Explorers:
https://etherscan.io/address/0x4f2b33840227ddd0e28da8d4185d6fa07adfed87
Socials:
https://x.com/BasedOneX
Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. HTX does not take responsibility for any resulting direct or indirect losses.
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