What is Based One?
Based One is the Based app (based.one; “BasedApp | Crypto Wallet” on the App Store, “BasedApp | Trade & Spend” on Google Play): a self-custodial trading app for iPhone, Android, web and desktop that sends your orders to Hyperliquid's order book. It is not Coinbase's Base App or the Base blockchain.
- Cost: Hyperliquid's fee plus a Based builder fee of 0.025% on crypto perps, so 0.070% taker against 0.045% on app.hyperliquid.xyz (0.0432% with our code). Growth-mode stock perps cost 0.011% in total.
- Codes:
HOLYGRAILis our Based code (Based's own affiliate program; it does not change your fee). It has the same letters as our Hyperliquid code, in a separate program. Our Hyperliquid code HOLYGRAIL is what saves money: 4% off Hyperliquid's part of every Based order, 0.0682% taker instead of 0.070%, if you join Hyperliquid first. - Status on October 15, 2026: HYPE and Based Gold Visa cards available (not in the US; 92 countries excluded), points seasons over, $BASED trading since March 30, 2026.
Step 1: join Hyperliquid with HOLYGRAIL → Step 2: open Based →
Verdict. Perps cost 0.070% taker on Based (0.045% Hyperliquid + 0.025% Based), or 0.0682% if your account carries our Hyperliquid code (its 4% discount still applies to Hyperliquid's part of Based orders), versus 0.0432% on app.hyperliquid.xyz with our Hyperliquid code. Spot sells carry a 0.1% builder fee. Stock and commodity perps are the exception: most run in Hyperliquid's growth mode and cost 0.011% in total. Use Based for the app, the stocks and the card, not to save on fees. The builder fee disappears only if you stake 600,000 $BASED (about $28,300 at $0.0471, October 20, 2026). The points seasons are over.
Before you download Based: two steps, in this order
- Join Hyperliquid with our code first, using Rabby or MetaMask (the wallet you will use in Based). That account then keeps 4% off Hyperliquid's part of every fee for its first $25M, on Based orders too. Step 1: join Hyperliquid with HOLYGRAIL →
- Connect that same wallet to Based through our link (Based code
HOLYGRAILis filled in; that is Based's own program and does not set your Hyperliquid code). Choose “connect wallet”, not email or Google: those create a new wallet, which is a different Hyperliquid account without the 4% discount. Step 2: connect it to Based →
Why this order: apps such as Phantom often set their own Hyperliquid referral code on accounts that have none, so enter a code on Hyperliquid before you start using an app. A code is set once per account (and only while it has traded $10,000 or less), and the referral discount also applies to orders placed through apps with a builder code (mainnet fills checked October 1, 2026). More: Hyperliquid referral code HOLYGRAIL · Hyperliquid builder codes explained · best Hyperliquid apps.
Official Based app downloads
| Platform | Official link | Listing on October 15, 2026 |
|---|---|---|
| iPhone / iPad | apps.apple.com | "BasedApp | Crypto Wallet" by SHA2 Labs Pte Ltd · 4.2 stars from 18 US ratings · version 3.4.4 · iOS 17+ · English only |
| Android | play.google.com | "BasedApp | Trade & Spend" (com.basedapp.basedsuperapp) · 3.9 stars from 155 reviews · 10K+ downloads |
| Web | app.based.one | Web terminal (the old app.basedapp.io is now Based's "Legacy Webapp" for accounts created before July 2025) |
| Desktop | based.one/desktop | Based says it is 30% faster than the browser, with native fill and liquidation alerts |
Several unrelated apps are also called "Based" in both stores. Check the publisher: SHA2 Labs Pte Ltd on the App Store and the package name com.basedapp.basedsuperapp on Google Play. Based's own list of official links is at basedapp.gitbook.io/docs/others/official-links.
On a phone: HOLYGRAIL first, then Based
Do step 1 above from the wallet you will use on your phone (in the Rabby or MetaMask app, open its browser and go to app.hyperliquid.xyz/join/HOLYGRAIL). Then, in the Based phone app, choose Connect Mobile to link your existing wallet (Based docs, checked October 19, 2026). Do not sign in with email or Google: that makes a new wallet without the discount.
No Connect Mobile option? Based's route from a computer
From a computer: open app.based.one/accounts in a desktop browser, choose Add Hyperliquid account and connect the wallet, then scan the QR code shown on the computer with the phone app via Home → profile picture → Create new wallet → Link to Hyperliquid wallet. Despite the menu name, this links the wallet's existing Hyperliquid account instead of creating a new one; a wallet linked this way can trade, but deposits and withdrawals are done on app.hyperliquid.xyz.
Based app referral code: HOLYGRAIL
We earn a commission when you sign up through our links on this page; it never raises your fees.
- How it works: our link (app.based.one/r/HOLYGRAIL) redirects to the register page with “?ref=HOLYGRAIL” and fills the "Enter referral code (optional)" field (re-checked October 15, 2026). If you install the phone app first, create the account on the web through the link and then sign in on the phone the same way: the same email, or the same wallet through Connect Mobile (phone steps).
- What you get: nothing extra, and nothing less. Based's docs list no fee discount for referred traders, so the "KICKBACK 10% off" and "20% off" code pages in Google are about Coinbase's Base App or are unverified. The only referee perk in Based's docs was a 10% Diamonds bonus in Season 3, which ended on May 4, 2026.
- Based's code and Hyperliquid's code do different jobs: Based's code belongs to Based's affiliate program and does not change your fees. A Hyperliquid referral code sits on your Hyperliquid account and still works inside Based: the referral discount also applies to orders placed through apps with a builder code (4% off Hyperliquid's part of the fee for your first $25M, 0.045% → 0.0432% taker; Based's builder fee is unchanged; mainnet fills checked October 1, 2026). It can only be entered while your account has traded $10,000 or less, and apps such as Phantom often set their own Hyperliquid referral code on accounts that have none, so enter a code on Hyperliquid before you start using an app: with the wallet you will use in Based, open app.hyperliquid.xyz with our code
HOLYGRAILbefore you connect that wallet to Based. An email or Google sign-up on Based creates a new wallet, which is a different Hyperliquid account without your code. The lowest fees overall are still on app.hyperliquid.xyz itself, with no builder fee.
1. What Based is, and what it is not
Based describes itself as an all-in-one app to "trade everything, spend everywhere". It covers Hyperliquid perps and spot, stock and commodity perps, Polymarket prediction markets and a Visa debit card, all from one self-custodial account. Technically it is a builder-code front-end: your orders go into Hyperliquid's on-chain order book, and Based collects a fee on each fill. Liquidity, prices, funding and liquidation are Hyperliquid's. Hyperliquid listed 178 crypto perp markets on October 20, 2026, with $4.03B of 24-hour perp volume.
On based.one, Based claims more than $44B in processed volume and 100,000+ users, and lists Coinbase Ventures among its backers. Its docs give about $20M of annual recurring revenue (a company figure) and add an $11.5M Series A led by Pantera (February 2026), with Ethena, Hashed, Coinbase Ventures, Wintermute Ventures and Spartan Group. The Terms of Use name Based Technologies Limited (British Virgin Islands) as the operator. The token docs say Based is run by the Based Foundation, and SHA2 Labs Pte Ltd publishes the iOS app.
| Name people search | What it is | Related to Based? |
|---|---|---|
| Based / BasedApp (based.one) | Hyperliquid trading app with a Visa card and the $BASED token | This review |
| Coinbase "Base App" | Coinbase's own consumer app | No, a different company |
| Base (network) | Coinbase's Ethereum layer-2 blockchain | No; $BASED lives on Ethereum, BNB Chain and Hyperliquid |
2. Based app ratings and what users say
| Store | Rating | Ratings | Other details (October 15, 2026) |
|---|---|---|---|
| App Store (US) | 4.2 / 5 | 18 | Version 3.4.4, updated October 7, 2026; English only |
| App Store (Japan) | — | 0 | Same app, no Japanese ratings yet |
| Google Play | 3.9 / 5 | 155 | 10K+ downloads, updated October 2, 2026 |
Since our first check on September 27 the US App Store average moved from 4.4 (16 ratings, September 27, 2026) to 4.2 (18), and Google Play reviews rose from 94 to 155 at an unchanged 3.9. The sample is still small, so read the reviews rather than the stars. The positive ones praise instant execution without lag, trading crypto, stocks and other assets in one app, and the card's cashback (one Play reviewer mentions a 4% card). The critical ones include an App Store review from April 2026 saying the app has no option to receive $BASED, and that a wallet you add can be neither removed nor renamed. One Play reviewer mentions other reviews that call the app laggy. The newest US App Store review (September 30, 2026) is a one-line 5-star. Our own complaint is the one no store review states plainly: every crypto-perp trade costs more than on Hyperliquid itself (section 3). Support runs through in-app chat (Intercom), and the PnL calendar is a genuine plus for phone traders.
3. Based fees vs Hyperliquid: what you actually pay
Based's fee page is explicit: total fee = Hyperliquid trading fee + Based builder fee. At Hyperliquid's base tier (under $5M of 14-day volume), taker orders cost:
| Market | Hyperliquid taker | Based builder fee | Total on Based | Total with 600,000 $BASED staked |
|---|---|---|---|---|
| Crypto perps (BTC, ETH, SOL…) | 0.045% | 0.025% | 0.070% | 0.045% |
| Stock, index and commodity perps (HIP-3, growth mode) | 0.009% | 0.002% | 0.011% | not listed |
| Spot buy | 0.070% | none | 0.070% | 0.070% |
| Spot sell | 0.070% | 0.1% | 0.170% | 0.070% |
Maker orders on crypto perps cost 0.040% in total, and on growth-mode stock perps 0.005%. Hyperliquid's volume tiers and HYPE staking discounts lower the Hyperliquid part. Only $BASED staking lowers the Based part.
Worked example: a $10,000 BTC position, opened and closed with market orders
- app.hyperliquid.xyz, no code: 0.045% × 2 × $10,000 = $9.00
- app.hyperliquid.xyz with our code (4% off your first $25M): $8.64
- Based, no stake, no Hyperliquid code: 0.070% × 2 × $10,000 = $14.00
- Based, no stake, our Hyperliquid code on your account: 0.0682% (0.0432% + 0.025%) × 2 × $10,000 = $13.64. The 4% referral discount still applies to Hyperliquid's part of Based orders (mainnet fills checked October 1, 2026); Based's builder fee is not discounted
- Based, Diamond stake: builder fee 0%, so you pay only the Hyperliquid fee
At $250,000 of monthly crypto-perp volume the builder fee comes to $62.50 a month. That is what the app costs you. Many phone-first traders will find it worth paying, but pay it knowingly. The full Hyperliquid schedule is in Hyperliquid fees explained.
4. Stocks and commodities 24/7
based.one now leads with stocks: "Trade Equities, Crypto and Commodities. 24/7." The stocks are HIP-3 perpetual futures on Hyperliquid, mostly deployed by trade.xyz (for example NVDA, MU, SK Hynix, Samsung, AAPL, MSFT and SoftBank on based.one/trade). They are not shares you own. They trade around the clock, including weekends, from the same wallet. Most of these markets run in Hyperliquid's growth mode, so the all-in taker fee on Based is 0.011% (0.009% Hyperliquid + 0.002% Based). That is cheaper per trade than Based's crypto perps. Based notes that non-growth markets such as gold and crypto-treasury stocks (MSTR) pay crypto-perp rates. How these contracts are priced, funded and capped is covered in our trade.xyz stock perps guide.
5. Features inside the Based app
The mobile app is the main reason people search for Based. Hyperliquid has an official Android app but no official iOS app (see our Hyperliquid app guide). Based's charts are native rather than a web wrapper. The trade screen switches between Perps, Spot, HIP-3 and Swap with one tap, and deposits can auto-convert crypto to USDC for perps or come from a card, Apple Pay, Google Pay, PayPal, Venmo or Revolut through third-party providers.
| Feature | What Based offers (October 15, 2026) |
|---|---|
| Order types | Market, Limit, Stop Market, Stop Limit, Scale, TWAP, Scalp (web) and trailing stop; TP/SL, reduce-only, post-only (ALO), IOC |
| Markets | Hyperliquid crypto perps (up to 40x), spot, Swap, HIP-3 stock/commodity perps, Polymarket predictions |
| Charts and tools | Native mobile charts (MA, EMA, BOLL, VOL, MACD), PnL calendar, portfolio view, leaderboard |
| Hyperliquid vaults | Browse and deposit into vaults inside the app (leader, APR, TVL, age) |
| Telegram bot | /long, /short, /close, balances, price and ratio charts, group leaderboards |
| Several wallets | Link extra Hyperliquid wallets at app.based.one/accounts; an agent wallet can trade perps/spot and swap but cannot withdraw, transfer or set trailing stops |
| Wallet support | Rabby or MetaMask recommended; Phantom cannot sign HyperEVM transactions on Based |
| Withdrawals | Need 1 USDC for gas; open orders can block a withdrawal |
6. Prediction markets on Based
Based embeds Polymarket markets (politics, sports, crypto and more) next to perps, with the balance held alongside your trading accounts. The fee is Polymarket's formula, fee = 0.07 × contracts × price × (1 − price), rounded up to the cent and charged on buys only. On top of that, Based charges an extra 1%. At a 50-cent price, 100 contracts cost $1.75 in Polymarket fees before Based's extra charge. The terms bar the prediction feature for residents of the US, UK, France, Ontario, Singapore, Poland, Thailand, Australia, Belgium and Taiwan.
7. $BASED token and staking: does it pay for itself?
$BASED launched (TGE) on March 30, 2026. Supply is fixed at 1,000,000,000: 36% genesis distribution, 23.64% ecosystem and rewards, 20.36% investors and 20% core contributors (both with a 1-year lock and then 2 years of monthly unlocks). It is a LayerZero OFT token on Ethereum, BNB Chain and Hyperliquid, and it trades on Binance (Alpha and futures), Bybit, OKX, Kraken, Coinbase and Hyperliquid spot. CoinGecko showed $0.0471 on October 20, 2026, with 235,000,000 tokens circulating. That is about 85% below the all-time high of $0.32 set on April 16, 2026.
You stake at basedfoundation.com/genesis, and staking does three things today. It pays emission rewards, lowers the builder fee and qualifies you for the card. Based's docs describe a Launchpool where staked $BASED earns Launchpool Points that convert into partner tokens at their launch; the staking page still lists Launchpool access as coming soon (both read October 15, 2026). There are three reward pools. OG and Based are capped at 40,000,000 tokens each and pay more, and Normie is uncapped. The APR falls as more $BASED is staked, and Based says its APR table is "for illustration purposes only". Unstaking has a 3-day cooldown with no rewards.
| Fee tier | $BASED staked | Builder fee discount | Crypto-perp builder fee | Stake value at $0.0471 (October 20, 2026) |
|---|---|---|---|---|
| No stake | under 60,000 | 0% | 0.025% | — |
| Silver | 60,000+ | 30% | 0.0175% | ≈ $2,800 |
| Gold | 300,000+ | 60% | 0.01% | ≈ $14,100 |
| Diamond | 600,000+ | 100% | 0% | ≈ $28,300 |
Break-even arithmetic. This counts fees only, before staking yield and before any move in the token price. Diamond saves 0.025% of volume, so a $28,300 stake is repaid by fee savings after about $113M of perp volume. Silver saves 0.0075% and needs about $37.7M to cover $2,800. Staking therefore only pays for very active Based traders or for people who want to hold $BASED anyway, and a 85% drawdown from the high dwarfs any fee saving. The discount applies only to Based's fee. Hyperliquid's base fee is unchanged.
8. The Based Cash Visa card in October 2026
based.one calls its card product Based Cash. On October 15, 2026 the HYPE and Based Gold cards were available and Based Orange was still “TBA”. No other Hyperliquid app has a card, but you cannot simply apply for one. The only way to get it is to stake $BASED and pass KYC with a passport or national ID (driver's licences are not accepted), and screening usually takes up to 3 days. There are no signup or annual fees. The stake for your tier is locked for 21 days after you redeem the card, and all card rewards stop as soon as you start unstaking.
| Card | Status | Stake required | Cashback (paid in $BASED) | FX markup | Notes |
|---|---|---|---|---|---|
| Based Orange | Not yet available (TBA) | — | — | 2.5% | Virtual only |
| HYPE (“Premium” on based.one/cash) | Available | 10,000 $BASED | 2% (cap $20/month) | 1.5% | Virtual + physical ($50 shipping); up to $10/month AI-subscription rebate |
| Based Gold | Available | 100,000 $BASED | 4% (cap $100/month) | 0% | Metal card, free shipping; up to $20/month entertainment + $100/month AI rebates; 4 lounge visits/year |
The card docs also say several things that most reviews skip:
- Converting crypto to fiat ("smart convert") costs 1%. Keep stablecoins in the card account, which are spent first, to avoid it.
- A card left inactive for 6 months is charged $5 a month.
- ATM withdrawals and withdrawals from the card balance are not enabled.
- The card wallet and the trading wallet are separate.
- The Orange and HYPE cards have a daily limit of S$3,000.
- The Apple Pay information conflicts. The card pages list it as available, but the FAQ says "Currently Apple Pay is not supported", so test it before you rely on it.
- The card affiliate program (referrers earned 30% of their users' cashback) ran from April 15 to June 30, 2026 and has ended.
Country restrictions (list effective August 1, 2026): the card is not issued in 92 countries, including the United States, Canada, Australia, New Zealand, Singapore, Hong Kong, Taiwan, India, Indonesia, Vietnam, Turkey, Ukraine and Russia. Japan is not on the list, and Slovenia is the only EU country on it. Based's availability checker at based.one/cash/availability has the latest status. At $0.0471, the HYPE card's lock is worth about $500 and Based Gold's about $4,700. With cashback and rebates at their caps, the most they return is $30 and $220 a month.
9. Based AI
Based also runs a separate AI product line, all listed as live in its docs on October 15, 2026. The AI Gateway (ai.based.one) gives pay-per-use access to major AI models, settled with x402 micro-payments on Hyperliquid. Alongside it are Chat, Based Page (publish web pages straight from an AI conversation) and Agent Mail (mailboxes for AI agents). None of this changes how trading works, but it explains why the AI rebates on the card exist and why based.one has an "AI" tab.
10. Points and airdrop status
Based ran three points seasons: XP (Season 1), Gold (Season 2) and Diamonds (Season 3, January 5 to May 4, 2026). Season 1 and 2 balances fed the $BASED airdrop at launch, and Season 3 tokens were distributed on May 11 and June 7, 2026. On October 15, 2026 the docs say all three seasons have ended and list no new one. The app still shows XP and a leaderboard, and card spending still earns card points, but nothing documented promises another distribution. Do not pay the builder fee in the hope of an airdrop.
11. Is Based safe and legit?
- Custody: Based says "We don't store your keys." Signing up with email or Google creates a self-custodial wallet. Export its key from your profile ("Export email private key") and back it up. You can also connect an existing wallet; extra wallets linked at app.based.one/accounts trade through an agent wallet, which cannot withdraw or transfer.
- Builder-fee approval: your first trade asks you to approve a maximum builder fee. Hyperliquid caps builder fees at 0.1% on perps and 1% on spot, and you can revoke the approval at any time.
- Jurisdiction: the Terms (last updated November 16, 2025) bar sanctioned persons and jurisdictions (such as Cuba, Iran, North Korea, Syria, Russia and Belarus) and forbid using a VPN to get around geo-blocking. Disputes go to LCIA arbitration under British Virgin Islands law.
- Phishing: the official domains are based.one and app.based.one, and the official English Telegram community is t.me/BasedOneVerification (Based's official-links page lists the others). Never enter a seed phrase on a site you reached from a DM.
- If you are hacked: Based's FAQ says to move your assets to a new wallet, revoke approvals at revoke.cash and contact support. On-chain losses cannot be reversed.
Because trades settle on Hyperliquid, a Based outage does not freeze your funds: the same wallet opens on app.hyperliquid.xyz. That is the real safety net of any builder-code app. For wallet choice see best wallet for Hyperliquid.
12. How to start on Based
- First, the Hyperliquid code (optional, saves 4%). Join Hyperliquid with HOLYGRAIL using Rabby or MetaMask, then use that same wallet in the next step (choose to connect the wallet, not email or Google: those create a new wallet without the code).
- Open Based's sign-up page through our link. It opens app.based.one with our code
HOLYGRAILalready in the "Enter referral code (optional)" field. If you arrive another way, type the code there. Connect the Rabby or MetaMask wallet from step 1. Email or Google sign-up also works, but it creates a new wallet without your Hyperliquid code. - On your phone, install the app from the App Store or Google Play and sign in the same way you did on the web: the same email, or the same wallet through Connect Mobile (phone steps). The account is shared across web, iOS, Android and desktop.
- Deposit: send USDC or another supported token to your generated address, or buy with a card or Apple Pay. If a deposit has not shown up after 5 to 10 minutes, check that the token and network are supported. Routes are in our Hyperliquid deposit guide.
- Approve the builder fee when asked, then pick a market, leverage and order type. Set TP/SL when you enter.
- Optional: stake $BASED at basedfoundation.com/genesis for fee discounts or a card.
Withdrawals need 1 USDC for gas. Based quotes about 1 minute for USDC, 20 minutes for BTC and 13 seconds for SOL.
13. Based vs trading on Hyperliquid directly
| If you… | Use | Why |
|---|---|---|
| You mainly trade on desktop and want the lowest fee | app.hyperliquid.xyz with our Hyperliquid code | 0.0432% taker, no builder fee |
| You want a native iPhone app with charts and push alerts | Based (or another app from our comparison) | Pay +0.025% on crypto perps for the app |
| You want to trade Nvidia or Micron perps on weekends from a phone | Based | HIP-3 growth-mode perps cost 0.011% taker in total |
| You want to spend crypto with a Visa card | Based, if your country is eligible | Needs KYC and 10,000+ staked $BASED |
| You trade large volume through Based anyway | Consider $BASED staking | Diamond removes the builder fee; weigh token price risk |
Among mobile apps, Liquid (0.05%), fomo (0.05%) and Phantom (0.05%) add more on perps, and Dexari 0.1%. That makes Based's 0.025% the lowest extra fee of the full-featured phone apps; only Hyperdash's web terminal (0.015%) is lower. The side-by-side table is in best Hyperliquid apps for iPhone and Android, and our full Hyperliquid review covers the exchange underneath.
Want a native Hyperliquid app? Try Based, in two steps
iOS, Android, web and desktop in one self-custodial account. Crypto perps cost Hyperliquid's fee + 0.025%; stock perps 0.011% in total.
- Join Hyperliquid with
HOLYGRAILusing Rabby or MetaMask: 4% off Hyperliquid's part of your fees for your first $25M, on Based orders too.
Step 1: join Hyperliquid → - Connect that same wallet to Based (not email or Google). Based code
HOLYGRAILis filled in for you; it is Based's own program, so it does not set your Hyperliquid code, and does not change your fees.
Step 2: connect it to Based →
Lowest fee of all: trade on app.hyperliquid.xyz itself, which has no builder fee.
FAQ
What is Based One (the Based app)?
Based One is the Based app: based.one, "BasedApp | Crypto Wallet" on the App Store and "BasedApp | Trade & Spend" on Google Play. It is a self-custodial trading app built on Hyperliquid for iPhone, Android, web (app.based.one) and desktop. It sends your perp and spot orders to Hyperliquid's on-chain order book through a builder code and adds stock and commodity perps, Polymarket prediction markets, a Visa debit card (Based Cash), $BASED staking and a Telegram bot. Based says it has 100,000+ users and more than $44B in processed volume, and is backed by Pantera and Coinbase Ventures among others (checked October 15, 2026).
Is Based the same as Coinbase's Base App?
No. Based (based.one, published by SHA2 Labs Pte Ltd and operated under Based Technologies Limited) is a Hyperliquid trading app. Coinbase's Base App and the Base network are separate products from Coinbase. $BASED is not a Base-network token: its contracts are on Ethereum, BNB Chain and Hyperliquid. Referral codes and reviews for Coinbase's Base App do not apply to Based.
Is the Based app legit and safe?
Based is a real, funded company: an $11.5M Series A led by Pantera (February 2026), apps in both official stores (4.2 stars on the US App Store, 3.9 on Google Play on October 15, 2026). It is self-custodial: trades settle on Hyperliquid and Based says it does not store your keys. The risks are those of any front-end: phishing copies, the builder-fee approval, HyperEVM contract and bridge risk, and a company (Based Technologies Limited, British Virgin Islands) that can change its terms. Install only from the store links on based.one.
What are Based app fees?
Hyperliquid's fee plus a Based builder fee: 0.025% on crypto perps (0.070% taker / 0.040% maker in total at the base tier), 0.002% on growth-mode stock and commodity perps (0.011% taker in total), nothing extra on spot buys and 0.1% on spot sells (0.170% in total). Prediction markets carry Polymarket's fee plus 1%. Staking $BASED cuts the builder fee by 30%, 60% or 100%. Checked October 15, 2026.
Is Based cheaper than trading on Hyperliquid directly?
No. Every Based crypto-perp order pays Hyperliquid's fee plus the 0.025% builder fee. A Hyperliquid referral code still helps: the referral discount also applies to orders placed through apps with a builder code (we checked mainnet fills on October 1, 2026), but it takes 4% off Hyperliquid's part of the fee only, never off Based's builder fee. On a $10,000 round trip at the base tier that is $14.00 on Based without a Hyperliquid code, $13.64 on Based with our Hyperliquid code, and $8.64 on app.hyperliquid.xyz with our code. Only Diamond $BASED stakers (600,000+ tokens) pay no builder fee.
What is the Based app referral code?
Our Based referral code is HOLYGRAIL. Open Based through our link (app.based.one/r/HOLYGRAIL) and the code is already filled in on the sign-up page ("Enter referral code (optional)"); otherwise type it there when you create your account. It has the same letters as our Hyperliquid code but belongs to Based's own affiliate program. It is separate from a Hyperliquid referral code, which you set on your Hyperliquid account and which still takes 4% off Hyperliquid's part of every Based order. Based's docs do not list a fee discount for the person using a code (checked October 15, 2026), so your Based fee is the same with or without it; we earn a share of Based's builder fee.
Does a Based code like "KICKBACK" give 10% off?
Not according to Based's docs. Based's affiliate program pays the referrer (60% of the Based fees paid by direct referrals) and lists no discount for the referred trader. The "10% off" code pages that rank for this search are about Coinbase's Base App or are unverified. The only documented perk for referred users was a 10% Diamonds bonus in points Season 3, which ended on May 4, 2026.
Does Based have a coin?
Yes, $BASED, launched on March 30, 2026 with a fixed supply of 1,000,000,000. CoinGecko showed $0.0471 on October 20, 2026. It is used for staking rewards, builder-fee discounts and card eligibility, and trades on Binance (Alpha and futures), Bybit, OKX, Kraken, Coinbase and Hyperliquid spot. One App Store review (April 2026) complains that the app has no option to receive $BASED.
Can you trade stocks on the Based app?
Yes, as perpetual futures, not shares. Based lists Hyperliquid HIP-3 stock, index and commodity perps, mostly deployed by trade.xyz (for example NVDA, Micron, SK Hynix, Samsung, Apple and Microsoft), and they trade 24/7 including weekends from the same wallet. You hold a contract that tracks the price, not the share itself. Most of these markets run in Hyperliquid's growth mode and cost 0.011% taker in total on Based; markets without growth mode, such as gold and MSTR, are charged crypto-perp rates (0.070% taker). Checked October 15, 2026.
How do I log in to Based?
Open app.based.one (web) or the mobile app and sign in with email or Google, which creates a self-custodial wallet whose private key you can export, or connect an existing wallet (Rabby or MetaMask; "Connect Mobile" on the phone). The same account works on web, iOS, Android and desktop. If you set a Hyperliquid referral code such as HOLYGRAIL on a wallet, connect that wallet: an email or Google login is a new wallet, a different Hyperliquid account without the code. The old app.basedapp.io is Based's "Legacy Webapp" for accounts created before July 2025.
Where do I find my own Based referral code?
Create one at app.based.one/affiliate/portal (up to 12 characters, no special symbols). Codes cannot be changed later. Referrers earn 60% of their direct referrals' Based fees, 9% (boostable to 12%) on the second tier and 3% (boostable to 4%) on the third, for life; payouts run twice a month with a $10 minimum.
Does the Based card work in the US or Japan?
The Based Visa card is not issued in the United States; the restricted list effective August 1, 2026 has 92 countries, including Canada, Australia, New Zealand, Singapore, Hong Kong, Taiwan and India. Japan is not on it (checked October 15, 2026). The card needs KYC with a passport or national ID and staked $BASED (10,000 for HYPE, 100,000 for Based Gold); there are no signup or annual fees. The FAQ says Apple Pay is currently not supported.
Is there a Based airdrop or points season now?
No. Seasons 1 and 2 fed the $BASED airdrop at the March 30, 2026 launch, and Season 3 ended on May 4, 2026 with tokens distributed on May 11 and June 7, 2026. On October 15, 2026 the docs list no live season. Do not trade on Based expecting a future airdrop.
Disclosure: we earn a commission when you sign up through our links on this page; it never raises your fees. HOLYGRAIL is our Hyperliquid referral code and, in a separate program, our Based affiliate code. We checked all Based figures on October 15, 2026 against Based's official docs, based.one, the App Store, Google Play, CoinGecko and the Hyperliquid API; terms-based statements refer to the Terms of Use last updated November 16, 2025. The $BASED price and Hyperliquid market data are refreshed each time the site is built. Based states that its fees, staking and card terms can change without notice. Perpetual futures are high-risk; this is not investment advice.