Based, the omnichannel trading platform built on Hyperliquid offering perps trading, prediction markets via Polymarket-style features, spot, yield integrations, and more, has released its $BASED airdrop checker.
This tool lets eligible users check their token allocation based on trading and spending activity on the platform primarily from Seasons 1 and 2.
The checker is now live. Total supply of 1 billion $BASED tokens.36% allocated to the community including traders, spenders, NFT holders, and launch partners. Additional portions for ecosystem/community rewards (23.64%), investors (20.36%), and core contributors (20%).
No lock-up mentioned for the community allocation. Backed by investors like Pantera Capital and Coinbase Ventures. Handles massive volume; $3.49B in recent 30-day trading, low-latency execution, and multi-interface access (web, mobile, Telegram bot).
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The release signals that the $BASED token generation event (TGE) and claims are approaching soon, with community buzz around potential FDV and post-launch performance. Some prediction markets related platforms) show varied sentiment on launch metrics.
36% primarily to traders/spenders from Seasons 1-2, plus BasedPal NFT holders, PUP holders, and launch partners. Recent updates indicate ~235 million tokens targeted for this group. Additional community/ecosystem rewards: ~23-24% including 75 million tokens to the Ethena community for strategic collaboration on integrations like USDe collateral and HyENA.
Investors: ~20% (e.g., Pantera Capital, Coinbase Ventures). Core contributors: ~20%. No lock-up mentioned for the community portion, meaning immediate liquidity and transferability post-claim for eligible users. This structure heavily favors early and active users, similar to Hyperliquid’s own highly successful HYPE airdrop which distributed 31% to community with no VC allocation and became one of crypto’s most lucrative ever, valued in billions post-launch.
If you’ve been active on Based (high-volume perps/spot trading, prediction markets, or spending), this checker provides transparency on your potential windfall. Many in the Hyperliquid ecosystem view Based as a high-upside “farm” due to its integrations. It rewards genuine usage over pure sybil farming, potentially leading to significant individual allocations.
LBased positions itself as the premier “consumer gateway” or super app on Hyperliquid. With $3.49B+ in recent 30-day volume on Based and Hyperliquid’s massive cumulative figures (trillions in total volume, billions in OI, record-breaking tradfi-like markets like oil/silver/equities), a successful $BASED launch strengthens network effects.
It drives more activity to Hyperliquid via Based’s mobile/Telegram interfaces, AI agents, Visa card integrations, boosting fees, burns and overall TVL/usage. Complements Hyperliquid’s momentum: HYPE has performed strongly up significantly since 2024 launch, often used as a volatility hedge, with ongoing developments like HIP-3/4 enabling new perps/outcomes markets.
Based adds distribution and accessibility, potentially accelerating Hyperliquid’s dominance in DeFi perps and beyond. No community lock-up reduces sell pressure post-claim; heavy community tilt (similar to HYPE’s model) builds loyalty; Polymarket odds show ~45% chance of $100M+ FDV at launch.
TGE proximity could spark short-term pumps (anticipation farming) or dumps (profit-taking). Broader crypto e.g., BTC nearing scarcity milestones, regulatory events will influence it. Signals maturity in Hyperliquid’s builder scene—projects like Based backed by top VCs show the L1 attracting serious capital and innovation, potentially drawing more protocols, liquidity, and users.
This checker launch is a clear step toward monetizing Based’s growth and rewarding its community in the thriving Hyperliquid ecosystem. It’s exciting for participants and bullish for the chain’s long-term trajectory as a leading DeFi/perps hub.