Based Closes $11.5 Million Series A Led by Pantera Capital
According to the company, the equity-plus-token-warrants round supports global expansion and development of onchain financial infrastructure, as Based scales its Web3 app built on Hyperliquid’s execution environment.
Based announced it closed an $11.5 million Series A led by Pantera Capital, with participation from Coinbase Ventures, Wintermute Ventures and Karatage. The company said the new capital will be used to expand into new markets and further develop its onchain financial infrastructure. Launched eight months ago, Based operates as a Web3 consumer app that integrates perpetuals trading, prediction markets and real-world crypto spending within a single interface. Built natively on Hyperliquid’s execution environment, the platform also powers third-party venues such as HyENA, a Hyperliquid-native perpetuals platform.
- Perpetuals trading: Trading of perpetual futures contracts, which have no expiration date and allow traders to speculate on asset prices with leverage.
- Prediction markets: Markets where participants trade contracts based on the outcome of future events, with prices reflecting collective expectations.
- Onchain financial infrastructure: Financial systems and services built directly on blockchain networks, enabling transactions and asset management without traditional intermediaries.