In a significant development for the convergence of Web3 and artificial intelligence, the Hyperliquid-based super-app Based has successfully closed an $11.5 million Series A funding round. The investment, led by blockchain investment giant Pantera Capital and reported on April 2, 2025, will fuel the expansion of Based's AI-agent-driven commerce platform.
The funding round saw participation from other heavyweight investors, including Coinbase Ventures and Wintermute Ventures, signaling strong institutional confidence in the project's model. Based, launched eight months ago, operates as a Web3 super-app, integrating services like perpetuals trading, prediction markets, and real-world crypto spending into a single interface built natively on the Hyperliquid blockchain.
"Most crypto products today are built for traders or builders, not for everyday people who want a complete financial life onchain," said co-founder and CEO Edison in a statement. The capital will be used to expand into new markets, build out its on-chain financial infrastructure, and accelerate the development of autonomous AI agents capable of executing complex commerce tasks on behalf of users.
The strategic choice of the Hyperliquid blockchain is central to Based's vision, leveraging its high transaction speed and low costs to enable the real-time responsiveness required for AI-driven commerce. Beyond its consumer app, Based is extending its technology stack to power third-party venues like HyENA, a Hyperliquid-native perpetuals platform.
