We just raised US$11.5M to build the next generation of on chain finance.
Proud to announce our latest round as we scale Based, the crypto SuperApp to trade everything and spend everywhere.
Based brings perpetuals, prediction markets, spot trading, and real world spending into a single on chain first experience. All from one SuperApp.
The Future of Based
We are approaching a singular moment in the history of Based. A massive inflection point.
Before we get there, before the TGE, I want to share a few thoughts about Based, the culture, and what’s ahead. For those of you who have stuck around during the high-velocity growth period of Based over the last six months, thank you for staying with us.
Loyalty in crypto is rare. It is precious. Building something new is incredibly hard. Your faith and belief in us have been the energy source powering us through some of the hardest challenges.
Now, in pursuit of building an ecosystem that is worth believing in, we want to share our general direction for the next six months of high-velocity growth. A few guiding principles to consider around Based:
Building a burgeoning ecosystem
Our journey has progressed loosely as such; From crypto card → to trading app → to now, an ecosystem. A simple way to look at this is as such. Hyperliquid built an entire city unique to itself, attracting builders to build new buildings. Based came along and built one of the finest skyscrapers in the city.
Nothing is worse than building a skyscraper nobody wishes to stay in, and this is exactly the issue with Crypto today. You start seeing new L2s and temu DEXes being spun up through which there are no new buildings being built upon, and no new tenants staying. Our commitment in H1 of 2026 is to accelerate Based ecosystem growth in a meaningful way to provide value to Based ecosystem.
The Physics of Innovation: Fail Fast, Win Big.
A key catalyst for Based’s growth over the past six months has been our rapid experimentation with new ideas and new executions. We intend to retain this spirit of experimentation, to discover what may ultimately become instrumental to the future of Based.
For those of you continuing this journey with us, we promise to keep building through thick and thin, and to keep trying things that may not work. But when they do work, the results will be nothing short of spectacular.
Today, we can point to four strong product verticals that emerged from this process:
- Spot + Perpetual trading (~$13m to date)
- Prediction Market (~$150k monthly)
- Based Cloud: Enterprise deployments (~$350k monthly)
- Crypto Debit Card ($40K+ a month, growing 30% MoM)
While we cannot be certain what will succeed in the future, the only certainty is that we are going to keep stumbling upon product verticals that make sense eventually.
For every ten things we try, perhaps eight won’t work. That is expected. The spirit of experimentation is what keeps us moving forward. In 2026, we will continue to create new revenue streams and new ways to grow Based into the largest crypto SuperApp that people actually use.
We are going to invest heavily in growth, and will do whatever is necessary to build real traction for our future supporters.
Create more ways to “Trade Everything, Spend Everywhere”
The mission of Based is to build meaningful ways for people to Trade Everything, Spend Everywhere.
We are going to be starting 2026 well-capitalized, and will be attempting a few moonshot projects that have not really been done in Crypto before.
Realistically, few projects have figured out “retail/normie onboarding”, which has always been a huge CT talking point. A couple of our initiatives are going to tackle this from first-principles: “what do people genuinely want to use?”.
The answer is not more complexity. It is not new jargon or new financial abstractions. It is simple, intuitive pathways that let users Trade Everything and Spend Everywhere, without needing to understand the machinery underneath.
Lastly
None of this is about a single event, a single feature, or even a single token moment.
The BASED TGE is not a finish line. It’s the moment where Based stops being “a product you use” and starts becoming an ecosystem you can own a piece of, a skyscraper that keeps filling up with better tenants, better businesses, and better reasons to stay. Our job over the next six months is simple (and hard): keep shipping, keep experimenting, keep compounding real usage: and to make sure that as the city grows, our building becomes the place people default to when they want to trade, earn, and spend.
If you’ve been here through the speedruns and the setbacks, you already understand what we value: progress over polish, momentum over narratives, and building over talking. We won’t promise perfection. We’ll promise effort, honesty, and velocity. We’ll keep putting real products in the hands of real users until “Trade Everything, Spend Everywhere” stops being a line and becomes a habit.
Thanks for sticking with us. The best part of Based hasn’t happened yet.
Stay Based.
Today, we're thrilled to share that we've partnered with @Stable and @ConcreteXYZ to bring the highest grade of tokenized assets to Stable, starting with a $75M pre-deposit allocation to thBILL.
Read more:
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The recipe’s been perfected.
After months of building testnet-3 is officially live.
Every click, every swap, every trade brings us one step closer to mainnet launch.
Join us and help shape the future of the DeFi superapp.
Experience it here: https://t.co/1IxQqXpqQM