Where is Based headquartered?

Based is headquartered in Singapore, Singapore. The company has a team of 15 people.

When was Based founded?

Based was founded in 2022. It is based in Singapore, Singapore.

Who is the CEO of Based?

Edison Lim is the CEO of Based. The company was founded in 2022.

Where is Based located?

Based is headquartered in Singapore, Singapore.

What funding stage is Based at?

Based is currently at the Early Stage stage.

How many employees does Based have?

Based has approximately 15 employees.

Based

Category: AI in Fintech

A Web3 consumer SuperApp built on Hyperliquid that combines perpetual futures trading, prediction markets, wallet functionality, fiat on/off-ramps, and a crypto-linked Visa card into a single mobile interface. Based was founded in 2022. The company is led by Edison Lim. Based in Singapore, Singapore. Team size: 15. Total funding raised: $18.2M. Latest round: Series A ($11.5M, Feb 2026). Key investors include Pantera Capital, Coinbase Ventures, Wintermute Ventures, Karatage, Ethena, Hashed, Spartan Group.

Founded: 2022
Headquarters: Singapore, Singapore
Team size: 15
Total funding: $18.2M

Value proposition

One-stop solution that eliminates the need to toggle between fragmented tools (DEX, cards, portfolio trackers) by providing a unified, curated experience where users can trade, earn, and spend crypto. Delivers institutional-grade performance through Hyperliquid's infrastructure with a consumer-grade interface.

Products and solutions

Spot and Perpetual Futures Trading, Prediction Markets Platform, Crypto-linked Visa Card (spending at 90M+ merchants worldwide), Non-custodial Web3 Wallet with HyperEVM Support, Fiat On/Off-Ramps with Bank Transfers, Based Cloud Infrastructure for Partner Deployments, Launchpad Platform, Based AI Inference Gateway, Based Pages (AI agent pages), $BASED Token Staking

Unique value

First consumer-facing SuperApp built natively on Hyperliquid's execution environment, accounting for 20% of the network's 24-hour perpetuals volume. Provides Based Cloud infrastructure enabling partners to deploy customized perpetual trading frontends (e.g., HyENA which processed $1.5B in months). Integrates Hyperliquid's builder codes system for sustainable revenue generation.

Target customer

Regular cryptocurrency users seeking a simple, complete solution for managing digital assets, rather than experienced traders or developers who currently dominate most crypto tools. Users who want to invest globally and spend locally without the usual blockchain complications.

Industries served

Cryptocurrency/DeFi, Web3 Infrastructure, Digital Payments, Financial Technology, Blockchain Trading, Prediction Markets

Technology advantage

Leverages Hyperliquid's HyperBFT consensus protocol with one-block finality and HyperCore trading infrastructure supporting 200,000+ orders per second with ~0.2s median latency. Combines fully on-chain order books with consumer-grade mobile interface, eliminating the traditional tradeoff between decentralization and performance. Features trader-first design with real-time settlement on decentralized order books.

How they differentiate

First consumer-facing Web3 SuperApp built natively on Hyperliquid infrastructure, offering unified trading, spending, and earning in a single mobile interface rather than requiring users to toggle between fragmented tools (DEX, cards, portfolio trackers). Also provides Based Cloud infrastructure enabling partners to deploy customized trading frontends.

Main competitors

dYdX, GMX, Aevo

Key partnerships

Pantera Capital, Coinbase Ventures, Wintermute Ventures, Karatage, Ethena, Hashed, Spartan Group, Hyperliquid Protocol, HyENA

Notable customers

HyENA

Major milestones

Series A funding of $11.5M led by Pantera Capital (Feb 2026), Based Cloud infrastructure launch enabling third-party deployments, HyENA partnership with $1.5B trading volume processed within months of launch, Achieved 100,000+ users and $41B+ cumulative trading volume, Generates ~$20M ARR, Launched Based AI inference gateway (Mar 2026)

Growth metrics

100,000+ users, $41B+ cumulative trading volume, ~$20M ARR. Accounts for 20% of Hyperliquid's 24-hour perpetuals volume.

Market positioning

Consumer-focused Web3 SuperApp challenger targeting regular cryptocurrency users seeking simplicity rather than professional traders, positioned as the gateway to Hyperliquid ecosystem with both consumer app and infrastructure provider capabilities.

Geographic focus

Global expansion emphasis with headquarters in Singapore, targeting users in North America, Europe, and Asia-Pacific regions

Patents and IP

No registered patents disclosed as of latest update

About Edison Lim

Co-founder and CEO of Based (also known as BasedApp). Previously Engineering Lead at Zilliqa (2018-2021) working on systems engineering and developer relations. Tech Lead at Alta Exchange, leading OTC platform development and custodian software for MAS Capital Markets Services license. Built data pipelines for ML researchers at Carnegie Mellon University under Prof. Andrew Moore. Co-founded Suberra in 2021, a Web3 payment protocol that raised $2.7M. Active in Web3/blockchain development since 2018. Carnegie Mellon University M.Sc graduate specializing in distributed systems security.

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Official website: https://based.one