Based, the all-channel trading platform of the Hyperliquid ecosystem, completed a $11.5 million Series A funding round led by Pantera Capital.

Techub News, according to The Block, the Hyperliquid ecosystem's omnichannel trading platform Based has completed a $11.5 million Series A funding round led by Pantera Capital, with participation from Coinbase Ventures, Wintermute Ventures, and Karatage. The funding structure involved equity investment plus token warrants. This round was launched in Q4 2025 and concluded last week. The company currently has over 100,000 registered users, 30,000 monthly active users, a cumulative trading volume of approximately $40 billion, and cumulative revenue nearing $14 million. It plans to expand its AI-driven "agentic commerce" business and further extend into the North American market.