Key Metrics
Fees (Annualized)$16.31m
Fees 30d$54,192.38
Hyperliquid L1$52,623
Polygon$799.07
Robinhood Chain$770.31
Fees 7d$27,526.76
Hyperliquid L1$27,364
Polygon$161.4
Robinhood Chain$1.36
Fees 24h$20,321.12
Hyperliquid L1$20,258
Polygon$62.22
Robinhood Chain$0.9
Cumulative Fees$17.02m
Hyperliquid L1$17m
Robinhood Chain$5,919.23
Polygon$4,976.54
Revenue (Annualized)$15.17m
Revenue 30d$41,734.81
Hyperliquid L1$40,347
Polygon$799.07
Robinhood Chain$588.74
Revenue 7d$23,651.44
Hyperliquid L1$23,489
Polygon$161.4
Robinhood Chain$1.04
Revenue 24h$18,814.9
Hyperliquid L1$18,752
Polygon$62.22
Robinhood Chain$0.68
Cumulative Revenue$15.87m
Hyperliquid L1$15.86m
Polygon$4,976.54
Robinhood Chain$4,511.44
Holders Revenue (30d Run Rate)$0
Holders Revenue 30d$0
Hyperliquid L1$0
Polygon$0
Robinhood Chain$0
Holders Revenue 7d$0
Hyperliquid L1$0
Polygon$0
Robinhood Chain$0
Holders Revenue 24h$0
Hyperliquid L1$0
Polygon$0
Robinhood Chain$0
Cumulative Holders Revenue$0
Hyperliquid L1$0
Polygon$0
Robinhood Chain$0
Incentives 1y$0
$0
$0
$0
$0
Earnings (Annualized)$15.17m
$41,734.81
$23,651.44
$18,814.9
$15.87m
DEX Volume 30d$144,922.04
DEX Volume 30d by chain
Polygon$83,099
Robinhood Chain$61,823.04
DEX Volume 7d$17,003.53
Polygon$16,897
Robinhood Chain$106.53
DEX Volume 24h$6,453
Polygon$6,382
Robinhood Chain$71
Cumulative DEX Volume$844,159.49
Robinhood Chain$474,684.49
Polygon$369,475
DEX Notional Volume 30d$176,811
DEX Notional Volume 30d by chain
Polygon$176,811
DEX Notional Volume 7d$29,564
Polygon$29,564
DEX Notional Volume 24h$11,166
Polygon$11,166
Cumulative DEX Notional Volume$28.54m
Polygon$28.54m
Perp Volume 30d$300.89m
Perp Volume 30d by chain
Hyperliquid L1$300.89m
Perp Volume 7d$118.46m
Hyperliquid L1$118.46m
Perp Volume 24h$81.23m
Hyperliquid L1$81.23m
Cumulative Perp Volume$46.016b
Hyperliquid L1$46.016b
$6.07m
Market Cap$21.43m
$BASED Price$0.091
$91.2m
$69.64m
$BASED Volume 24h$12.43m
CEX Volume$5.17m
DEX Volume$8.67m(69.69% of total)
Total Raised
Sep 8, 2025Round: Investors: Ethena
Feb 23, 2026$11.5mRound: Series AInvestors: Pantera Capital, Coinbase Ventures, Wintermute Trading, Karatage
Protocol Information
Trade, Predict and Spend. Built on Hyperliquid L1, Polymarket. Backed by Ethena Labs.
- Based AlphaLaunchpad
- BasedAppInterface
- HYENAInterface
- Based PredictInterface
Methodology
TVL: Total value of all coins held in the smart contracts of the protocol
Fees:
Revenue:
DEX Volume: Volume of all spot token swaps on the DEX
Notional Volume: Notional volume of all trades on protocol
Perp Volume: Notional volume of all trades including leverage on the perp exchange
Incentives: Tokens allocated to users through liquidity mining or incentive schemes, typically as part of governance or reward mechanisms.
Earnings: Revenue of the protocol minus the incentives distributed to users
Frequently Asked Questions
What is Based?
Trade, Predict and Spend. Built on Hyperliquid L1, Polymarket. Backed by Ethena Labs.
What is Based's TVL?
Based currently has $14,455 in total value locked. TVL has decreased 47.4% over the past 30 days.
What chains does Based operate on?
Based operates on 3 chains: Hyperliquid L1, Polygon, and Robinhood Chain. Robinhood Chain holds the largest share at 100%.
How much has Based generated in fees and revenue?
Over the past 30 days, Based generated $54,192.38 in fees. Of that, $41,734.81 was protocol revenue. Based on the trailing year, the annualized rate is $16.31m in fees and $15.17m in revenue.
What is the BASED token price and valuation?
BASED is currently trading at $0.091. Its circulating market capitalization is $21.43m, ranking it #1,000. Its fully diluted valuation is $91.2m. Supply currently stands at 235m circulating, 1b total supply, 1b maximum supply.
How has BASED performed recently?
BASED is up 25.6% over the past 7 days and up 8.1% over the past 30 days. Its all-time high is $0.32, reached on Apr 16, 2026. The token is currently 71.6% below that level.
Which protocols are included in Based?
Based is a parent protocol whose tracked products include Based Alpha, BasedApp, HYENA, and Based Predict.
How much trading volume does Based process?
Based processed $144,922.04 in DEX volume over the past 30 days.
