Based Review:The One Trading Platform for Hyperliquid

In the evolving ecosystem of decentralized finance (DeFi), the emergence of self-custodial, high-performance trading platforms promises to bridge the gap between centralized exchange speed and user-controlled asset sovereignty. This Based Review examines Based, a multi-channel “super-app” built atop the Hyperliquid Layer-1 protocol, which integrates spot and perpetual derivatives trading, advanced order-type support, non-custodial wallets, staking/delegation services, and crypto-spending via a Visa-linked card.

What is Based?

Based is a cryptocurrency platform positioned as a “super-app” built on the Hyperliquid Layer-1 infrastructure. It combines features typically seen in centralized exchanges (such as spot and perpetual contract trading, advanced order types) with a self-custodial wallet model and additional services like a crypto-linked Visa card and a multi-tier affiliate rewards system.

Key highlights:

• Users maintain control of their private keys and wallets, reflecting the “Your Keys, Your Crypto” ethos.
• It offers an integrated trading and wallet experience across web, mobile and Telegram platforms, aiming for high performance and advanced functionality.
• It includes a peer-referral/affiliate programme with significant fee-sharing incentives designed to drive user growth and engagement.

Also, you may read Extended Exchange Review

Based Review: Core Features

• Unified Trading Super-App: Trade spot and perpetuals across 100+ assets with full access to Hyperliquid’s orderbooks, pricing engine, liquidation logic, and margin system — all from a single interface (web, mobile, Telegram).
• Self-Custodial Wallet: Users maintain control of their private keys (“Your Keys, Your Crypto”), with seamless signing, multi-chain support, and secure on-chain execution.
• Advanced Trading Tools: Enhanced order types (TWAP, chase orders, time-based limits), position alerts, portfolio analytics, and configurable workflows built for both casual and pro-level traders.
• Automation & Bots: Rule-based automations for recurring buys, stop-loss logic, DCA, rebalancing, and other systematic strategies.
• Crypto Visa Card: Spend digital assets directly via a linked card, bridging everyday payments with on-chain holdings.
• Affiliate & Rewards Program: Multi-tier referral system offering high fee-sharing incentives to grow the ecosystem.
• Hyperliquid Integration: Leverages the high-speed, high-liquidity Hyperliquid infrastructure, with future support for permissionless asset listings.

Also, you may read Hibachi Review

Based Review: Web Terminal

The Based Web Terminal is a high-performance, browser-native trading interface built on Hyperliquid’s backend, offering a full suite of on-chain trading features with additional advanced tools not available on Hyperliquid’s native UI.

It delivers a fully integrated, self-custodial experience for spot and perpetual markets, supports 100+ assets through Hyperliquid’s real-time orderbooks, and extends functionality with algorithmic orders, automation, portfolio analytics, and customizable trading workflows.

Designed for both casual users and power traders, it aims to be an all-in-one command center for fast, intuitive, and highly configurable on-chain trading.

Key Highlights

• Full Hyperliquid functionality — plus more: Supports all native Hyperliquid trading mechanics (perps, spot, leverage, margin, pricing logic, liquidation engine) while adding advanced order algorithms, time-based execution, alerts, and automation.
• Pro-grade tools for on-chain trading: Includes chase orders, portfolio & exposure analytics, rule-based bots, session-based limit orders, and real-time notifications for fills, liquidations, and price triggers.
• Built on battle-tested infrastructure: Leverages Hyperliquid’s deep liquidity, 100+ supported assets, and upcoming permissionless listing framework, delivering CEX-level performance in a fully self-custodial environment.

Also, you may read Hyperliquid vs AsterDex vs Drift

Based Review:Telegram Bot

One of the fastest and most powerful trading bots built on Hyperliquid, designed for instant execution, real-time monitoring, and seamless interaction directly inside Telegram.

Core Capabilities

• Real-Time Account Data: Instantly view balances, open positions, PnL, and exposure.
• Trade Execution: Open longs/shorts, close individual trades, or exit all positions with a single command.
• Advanced Charting: Generate price charts, interval charts, and ratio charts (e.g., BTC/ETH, ETH/SOL) directly inside Telegram.
• Group Leaderboards: Add the bot to Telegram groups to track and rank performance among friends or communities.
• Interactive Mode: Step-by-step guided workflows for opening or closing trades — perfect for beginners or mobile-first users.

Also, you may read Hyperliquid Exchange Review

Based Review: Funding Your Trading Account

You can fund your Hyperliquid account through Based using two simple methods:

1. Transfer Crypto
2. Deposit with a Card

1. Transfer Crypto

• Choose the token (BTC, ETH, SOL, etc.) and supported blockchain.
• Each deposit generates a unique wallet address.
• Send the assets and wait ~5 minutes for the balance to appear.

2. Deposit with a Credit Card

• Select the amount you want to buy.
• Choose your preferred payment provider and complete checkout.

Hyperliquid Integration

Through Based’s mobile and web apps (“Add Funds”), you can seamlessly:

• Deposit BTC, ETH, or SOL directly into your Hyperliquid account.
• Use these assets for spot or perp trading.
• Withdraw back to any address on the asset’s native chain.

Also. you may read Hyperliquid vs Paradex vs Aden vs Pacifica vs Extended

Based Review: Fees

Trading Fees

Based follows Hyperliquid’s fee model:

• Fees depend on your rolling 14-day trading volume (perps + spot).
• Spot volume counts double toward your tier.
• Referral discounts apply for the first $25M in volume; referral rewards apply for the first $1B.
• Maker rebates are paid instantly into your wallet.
• Perpetuals and spot each have their own fee schedules, with lower fees at higher volume tiers.

Staking Discounts

Staking HYPE reduces trading fees:

• 10 HYPE → 5% discount
• 100 HYPE → 10%
• 1,000 HYPE → 15%
• 10,000 HYPE → 20%
• 100,000 HYPE → 30%
• 500,000 HYPE → 40%

Maker Rebates

High maker activity earns negative fees (rebates):

• Tier 1: –0.001%
• Tier 2: –0.002%
• Tier 3: –0.003%

Builder Fees

Added on top of trading fees:

• Perpetuals: 0.025%
• Spot sells: 0.1%
• Spot buys: 0% (no fee)

Up to 76% of builder fees are redistributed to the community via the affiliate program.

Also. you may read Hyperliquid vs AsterDEX vs Lighter vs edgeX vs Apex

Based Review: Mobile App

The Based Mobile App is an all-in-one, self-custodial platform designed to let users hold, trade, and spend crypto seamlessly. Available on iOS and Android, it delivers a CEX-grade experience while keeping full control of your keys.

What You Can Do

• Spot Trading
  Trade BTC, ETH, SOL and more while maintaining full ownership of your assets.
• Perpetual Trading
  High-performance mobile perps with real-time fills, smooth execution, and push notifications.
• Real-World Spending
  Use your crypto via the integrated Visa Debit Card—tap and pay instantly with no off-ramping.
• Portfolio Dashboard
  Unified view of Spot, Perps, Staking, EVM assets, and cash — all powered by Hyperliquid.

Easy Onboarding

• New to crypto?
  Create a self-custodial wallet in seconds using email or Google login.
• Already have a wallet?
  Connect instantly with Connect Mobile — Based helps you trade, but never holds your keys.

Based Review: Based XP / Based Gold Overview

Season 1 – XP System

• XP was the sole progression system during Season 1.
• Users earned XP through activity on Based.
• Season 1 XP is permanently locked — no more XP will ever be issued.
• Holders of Season 1 XP will receive an allocation in the upcoming Based Token airdrop.
• Exact percentages and distribution details will be announced later.

Season 2 – Based Gold

• Based Gold replaces XP as the new progression and rewards system.
• Each epoch lasts 3 days, with 10,000,000 Gold issued per epoch.
• Additional Gold may come from HIP-3 partners or Blind Boxes.
• Gold is designed as an ongoing reward for active users.
• Gold is earned from three activity categories (weights undisclosed):
  • Trading activity
  • Affiliate activity
  • PUP holder activity
• Specific formulas, ratios, and filters will not be revealed.

Also, you may read What are Real-World Asset Tokens?

Based Review: Based Visa Cards

BASED offers three tiers of Visa debit cards that let you spend crypto instantly at over 70 million merchants across 160+ countries. Card signups resume 29 November 2025.

Core Benefits (All Card Tiers)

• Auto-convert crypto at checkout — pay directly with USDT, USDC, or major tokens, no off-ramping needed.
• No top-up fees for supported stablecoins.
• Apple Pay & Google Pay compatible for instant mobile payments.
• Easy deposits via Solana, Arbitrum, Polygon, or Hyperliquid.

Why Use BASED Cards?

• Instant Spending — tap and pay with crypto, no delays or conversions required.
• Earn Rewards — higher-tier cards offer enhanced perks for active users.
• Global Access — spend anywhere Visa works, with multi-network deposit support.

Based Review: Security

Institutional Security

• Assets secured by Fireblocks (MPC + hardware isolation).
• Same infrastructure protecting $3T+ in digital assets.

Fraud Protection

• AI-powered monitoring blocks 95%+ of fraud.
• Real-time alerts for suspicious activity.
• 24/7 support for compromised cards.

Privacy & Data Safety

• All personal/KYC data encrypted and access-controlled.
• Built with industry-leading security standards.

User-Controlled Safety Tools

• Instant transaction notifications.
• Freeze card instantly in the app.
• In-app OTPs for more secure authentication.

Also, you may read TradeWiz Review: Fastest Copy Trading

Conclusion

Based brings together trading, custody, and real-world crypto spending into a single unified ecosystem built on Hyperliquid’s high-performance infrastructure. With a powerful mobile app, advanced web terminal, a fast Telegram trading bot, Visa card integration, and strong institutional-grade security, Based delivers a CEX-level experience while keeping users in full control of their assets.

Its progression systems (XP → Gold), automation tools, and affiliate rewards further strengthen engagement and community growth. Overall, Based aims to be the modern crypto super-app — seamless, self-custodial, and globally accessible.

Frequently Asked Questions

• How to Earn More from Polymarket?
• Top 10 Polymarket Alert Bots
• Top 10 PolyMarket Analytics Tools
• Tradefox Review: Prediction-market Aggregator
• Websea Review: Is It Worth Using?