# Based

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/based-2

- Industry: Software
- Headquarters: Singapore, Singapore
- Website: www.based.one
- Total disclosed funding: $12M
- Latest round: Series A (Feb 24, 2026)
- Investors on record: 4

## About

Based is a Singapore-based company that provides innovative blockchain solutions, focusing on decentralized trading and payment systems to enhance user experience and asset management.Founded in 2022 in Singapore, Based specializes in blockchain technology and offers a decentralized exchange (DEX) for trading various assets. The company has not undergone significant pivots and operates independently without noted subsidiaries. The founder's prior entrepreneurial history is not available. As part of its growth, Based raised USD 11.5 mn in Series A funding on February 24, 2026, led by Pantera Capital, with participation from Coinbase Ventures, Karatage, and Wintermute Ventures, totaling USD 11.5 mn raised overall.Based offers a comprehensive suite of trading and payment solutions designed to empower users with increased flexibility and control over their financial transactions. The core of its service is a decentralized exchange (DEX) that facilitates perpetual and spot trading of various assets, leveraging the USDe-margined perpetuals built on Hyperliquid's HIP-3 standard. This platform allows users to trade assets 24/7, addressing the demand for greater capital efficiency and enabling access to a wide range of financial instruments, including those not yet listed in traditional markets through premarket perpetuals. The company's self-custodial wallet ensures users maintain ownership of their crypto assets without third-party interference, appealing to both retail and institutional clients across global markets, including North America, Europe, and Asia-Pacific. Additionally, the user-friendly interface and features such as automated trading and position management cater to a diverse clientele, from novice traders to seasoned investors, all seeking to navigate the complexities of modern financial ecosystems.The revenue model of Based is primarily structured around transaction fees generated from trades executed on its decentralized exchange, as well as potential revenue streams from premium features and advanced trading tools. Clients engage with the platform through direct trading activities, where they utilize the DEX to facilitate their asset transactions, thereby generating fees that contribute to the company's overall revenue. Additionally, the self-custodial wallet and associated services may also incorporate performance-based fees or subscription models for enhanced functionalities. Given the breadth of the company’s offerings, revenue streams are diversified across different user segments, ensuring a stable financial foundation. The focus on securing profits through various order types, such as trailing stop loss and advanced automated strategies, further aligns the trading experience with user profitability, fostering continued engagement and transaction volume on the platform.In February 2026, Based raised USD 11.5 mn in Series A funding, which will be utilized to expand into new markets and enhance its on-chain financial infrastructure to scale the platform globally. Specific geographic targets for expansion are not detailed, but the company aims to leverage the recent funding to support these growth initiatives.

## Funding rounds

- Series A, Feb 24, 2026, $12M — Pantera Capital, Coinbase Ventures, Karatage, Wintermute Ventures

## Investors

- Pantera Capital (https://capitalatlas.ai/funds/pantera-capital) — Series A
- Coinbase Ventures (https://capitalatlas.ai/funds/coinbase-ventures) — Series A
- Karatage (https://capitalatlas.ai/funds/karatage) — Series A
- Wintermute Ventures (https://capitalatlas.ai/funds/wintermute-ventures) — Series A