A Single App for Trading, Payments, and AI
Crypto users often juggle multiple platforms just to manage basic tasks. Trading happens in one place, payments in another, and yield strategies somewhere else. Based is trying to simplify that experience by combining everything into a single interface.
The platform positions itself as a “crypto super app,” giving users access to trading, payments, and AI-driven tools under one account. Instead of moving funds across wallets or chains, users can interact with different financial services without leaving the app.
Built on Hyperliquid Infrastructure
Based doesn’t run its own blockchain. It operates as an application layer on the Hyperliquid Layer-1 network, which handles transaction execution and settlement.
This setup allows for near-instant transaction finality while avoiding the friction of cross-chain bridges. The platform is available on web, mobile, and desktop, and users can fund accounts directly via bank transfer or credit card.
In February 2026, Based raised $11.5 million in a Series A round led by Pantera Capital, with backing from firms including Coinbase Ventures and Wintermute Ventures. The ecosystem is managed by the Based Foundation.
Core Features: Trading, Cards, and AI
At its core, Based offers multi-asset trading. Users can access crypto spot markets, perpetual futures, as well as equities and commodities like gold or oil. Trading runs 24/7, with a 0.025% fee applied to each transaction processed through its system.
The platform also includes prediction markets. These let users take positions on real-world outcomes, from political events to crypto trends, using the same account they trade with.
One of its more consumer-facing features is the Based Visa Platinum card. It allows users to spend their crypto balance directly at over 100 million merchants worldwide. Cashback can reach up to 8%, depending on how much BASED a user holds.
Then there’s Based AI. The system is designed to help users manage risk, optimize portfolios, and even automate strategies. The project also hints at “agentic commerce,” where AI agents can execute trades and payments independently using blockchain-based protocols.
What the BASED Token Does
The BASED token sits at the center of the ecosystem. It’s not an ownership stake but a utility token that unlocks platform benefits.
Holding or staking BASED can reduce trading fees, increase cashback rates, and provide access to new token launches through the Based Launchpool. It also offers perks like lower transaction fees and discounts with partner merchants.
The total supply is fixed at 1 billion tokens. Of that, 36% was allocated to early distribution, 23.64% to ecosystem growth, and the rest split between investors and core contributors. Investor and team allocations follow a one-year lockup with gradual releases over two years.
Why It Matters
Based reflects a broader trend in crypto: consolidation. Instead of fragmented tools, platforms are moving toward all-in-one systems that mirror traditional financial apps but run on blockchain infrastructure.
The open question is whether users actually want everything in one place, or prefer specialized tools for each function. That answer will likely shape how quickly platforms like Based gain traction.
For now, the next milestone to watch is how adoption evolves after its token launch in March 2026, and whether its mix of trading, payments, and AI can translate into sustained user growth.
