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Pantera Capital heads $11.5 million funding round for Based, a cryptocurrency application powered by Hyperliquid.
The firm announced that the new funding will be allocated to enter additional markets and enhance its onchain financial infrastructure.
What to know:
- Based, a Web3 consumer application for trading and utilizing crypto, has secured $11.5 million in a Series A funding round led by Pantera, with contributions from Coinbase Ventures, Wintermute Ventures, and Karatage.
- The firm indicated that the new funds will be directed towards entering fresh markets and enhancing its onchain financial infrastructure.
- Based integrates perpetuals trading, prediction markets, and real-world crypto expenditures into a unified interface.
Based, a Web3 consumer application for trading and utilizing crypto, has secured $11.5 million in a Series A funding round led by Pantera, with contributions from Coinbase Ventures, Wintermute Ventures, and Karatage.
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The firm indicated that the new funds will be directed towards entering fresh markets and enhancing its onchain financial infrastructure.
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Launched eight months ago, Based merges perpetuals trading, prediction markets, and real-world crypto spending into a single interface. Developed natively on Hyperliquid’s execution environment, the platform aims to combine institutional-grade speed and liquidity with a user-centered experience.
In addition to its application, Based is also expanding its technology stack to support third-party platforms like 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,” stated co-founder and CEO, who goes by Edison, in a press release shared with CoinDesk. “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.”
Read more: Bitcoin will ‘massively’ outperform gold over 10 years, says Pantera’s Dan Morehead
