# Based

> Trade everything, spend everywhere

Based is a self-custodial trading app for perpetual futures on stocks, crypto, and other assets. It lets users trade and spend crypto through a built-in Visa card, without a bank account or brokerage.

Based is a self-custodial trading platform classified as a decentralized trading application, built on Hyperliquid. It lets users trade perpetual futures on US and Asian equities, crypto, and prediction markets from a single wallet, operating permissionlessly 24 hours a day, seven days a week. The platform targets crypto-native traders and stablecoin holders who want market access and spending ability without a broker or bank account.

Users hold their own private keys rather than depositing funds with Based, with deposits made in USDC and access available via email or Google login. Trades are cash-settled derivatives offering leveraged long or short exposure rather than ownership of the underlying asset, and positions carry liquidation risk and funding fees. The approach addresses fragmented access to equities, commodities, and crypto by unifying them under one trading interface.

Its flagship product is the Based trading terminal, available on web, desktop, and mobile, alongside Based Cash, a Visa card for spending crypto balances, and Based AI, which provides chat-based trading research and an AI inference gateway. Additional offerings include a Telegram trading bot and Based Genesis, covering BASED token staking and launchpool access to new projects. The platform is used by retail traders, prediction market participants, and crypto holders seeking to spend balances directly at merchants worldwide.

- Type: Company
- Sector: DeFi
- Status: Active
- Profile: https://thegrid.id/profiles/based

## Products

- [Based](https://thegrid.id/profiles/based): Based is a trading terminal and self-custodial wallet that lets users trade US and Asian equities, commodities, and crypto as perpetual futures around the clock. It routes trades through a decentralized perpetuals exchange, giving users leveraged, long or short exposure without holding the underlying asset. The platform also offers prediction markets and lets users swap coins across multiple blockchains from the same wallet. Users access Based through a web terminal, desktop app, or mobile apps for iOS and Android, holding their own private keys throughout. (Trading Terminal, Live, Main Product)
- [Based Cash](https://thegrid.id/profiles/based): Based Cash is a crypto-funded Visa debit card that lets users spend crypto balances at merchants worldwide. Users load crypto or stablecoins into a segregated card account, which converts balances to fiat at the point of sale. The card offers tiered cashback and subscription rebates, with higher reward tiers unlocked by locking the platform's token. (Card, Live)
- [Based AI](https://thegrid.id/profiles/based): Based AI is an artificial intelligence platform that provides trading research and chat assistance using models from multiple providers. It operates an inference gateway that routes queries to third-party AI models for market analysis and trade ideas. The platform includes an autonomous agent, Hermes, that can carry out trading-related tasks on behalf of users. Additional features include shareable AI-generated pages and an agent-driven mail tool. (AI Gateway, Live)
- [Based Telegram Bot](https://thegrid.id/profiles/based): Based Telegram Bot is a trading bot that lets users trade crypto perpetuals directly from Telegram. It executes trades and manages positions through chat commands, connecting to the same self-custodial trading infrastructure as the Based web and mobile apps. The bot is aimed at users who prefer trading through a messaging interface rather than a standalone app. (Trading Bot, Live)
- [Based Genesis (Staking & Launchpool)](https://thegrid.id/profiles/based): Based Genesis is a staking and token launch platform where users lock the platform's BASED token to access fee discounts, card reward tiers, and launchpool allocations. Staked BASED reduces trading fees on the platform, with the highest tier removing the builder fee entirely. The platform also hosts Launchpool and Launchpad offerings, letting users participate in new token distributions tied to the Based ecosystem. Access is provided through a dedicated portal separate from the main trading app. (Staking & Validation Services, Live)

## Assets

- [Based (BASED)](https://thegrid.id/profiles/based): BASED is the utility and governance token of the Based trading platform, a self-custody interface for Hyperliquid perpetual futures. Holders stake BASED to reduce trading fees and unlock card tiers, and it is used for Based Cash cashback rewards. It is bridged across Ethereum, BNB Smart Chain and Hyperliquid using the LayerZero Omnichain Fungible Token standard, with a fixed total supply of one billion tokens. (Utility)
- [BasedPals (PAL)](https://thegrid.id/profiles/based): BasedPals is an NFT collection issued by Based, the self-custody trading platform built on Hyperliquid. Holding a BasedPal links to perks within the Based ecosystem, and the collection trades on secondary marketplaces. The collection has its own dedicated social account distinct from the main Based platform channels. (NFT)

## Links

- [Main](https://based.one)
- [Documentation](https://basedapp.gitbook.io/docs)
- [Whitepaper](https://litepaper.based.one)
- [Media Kit/branding](https://based.one/brand)
- [Terms of Service](https://based.one/terms)
- [Privacy policy](https://based.one/privacy)
- [Twitter / X](https://x.com/BasedOneX)
- [Telegram](https://t.me/BasedOneVerification)
- [Twitter / X](https://x.com/BasedFnd)
- [Twitter / X](https://x.com/BasedPalsNFT)

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- [TGS Field Descriptions](https://github.com/The-Grid-Data/workspace-public/blob/main/references/tgs-field-descriptions.md): Schema field definitions for The Grid's data model
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- [Product Type Definitions](https://github.com/The-Grid-Data/workspace-public/blob/main/references/product-type-definitions.md): Definitions for each product type
- [Product Type Classification](https://github.com/The-Grid-Data/workspace-public/blob/main/references/product-type-classification.md): Guide for classifying products into types
- [Grid MCP Guide](https://github.com/The-Grid-Data/workspace-public/blob/main/grid-search/skills/grid-query/references/grid-mcp-guide.md): How to query The Grid programmatically via MCP