What is BasedApp?
BasedApp is an innovative all-in-one Web3 platform built on the Hyperliquid ecosystem that combines cryptocurrency trading, payments, and spending within a single mobile application.
It aims to bridge decentralized finance and real-world usability by integrating a trading interface with a Visa debit card.
This allows users to trade major cryptocurrencies like BTC, ETH, and SOL, and then spend their crypto assets seamlessly at millions of merchants worldwide just like traditional currency.
BasedApp also supports deposits from multiple blockchain networks such as Hyperliquid, Solana, and Arbitrum and focuses on providing secure asset management through advanced key management technologies like Multi-Party Computation (MPC) while enabling users to maintain self-custody of their funds.
History and team background for BasedApp
BasedApp is a relatively new project in the Web3 space, focusing on integrating crypto trading with real-world spending via a crypto-powered Visa debit card.
The platform was built on the Hyperliquid ecosystem with a vision to bridge decentralized finance and everyday financial usability.
The team behind BasedApp comprises experienced blockchain developers, fintech professionals, and security specialists.
They emphasize robust security technologies such as Multi-Party Computation (MPC) for private key management and self-custody of user assets.
The core team includes experts with backgrounds in developing scalable blockchain infrastructure, wallet solutions, and seamless user experience for mobile crypto applications.
Their mission is to create an all-in-one platform that empowers users with full control over their crypto assets while enjoying simple and rewarding trading and spending experiences.
While detailed biographies of individual team members are limited publicly, the team actively engages with the community through social media, regular updates, and transparent development progress.
They emphasize innovation, usability, and security in their product roadmap, aiming to expand asset support and user benefits like token airdrops and reward programs.
How Does BasedApp Work?
BasedApp operates as a mobile-first platform offering:
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Crypto Trading: Provides spot and perpetual trading for popular cryptocurrencies with mobile-friendly order management.
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Visa Debit Card: Enables real-world spending of cryptocurrencies with reward points based on spending tiers.
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Crypto Wallet: A non-custodial smart wallet supporting instant token transfers, flexible gas payment options, and batch signing technology for efficient transactions.
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Portfolio Tracking: Unified view of all assets and activities.
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Fiat On/Off Ramps: Facilitates easy conversion between fiat and crypto with seamless bridging capabilities.
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XP and Points Rewards: Encourages engagement by rewarding trading activity with XP and Visa card spending with points, potentially qualifying users for upcoming token airdrops.
Step-by-Step to Participate in BasedApp Airdrops
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Sign Up: Visit the official BasedApp website and create an account by registering with your email and creating a secure password.
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Complete KYC Verification: Finish the Know Your Customer process to unlock full platform features.
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Download the Mobile App: Install the BasedApp from Google Play or Apple App Store.
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Fund Your Account: Deposit cryptocurrencies from networks like Hyperliquid, Solana, or Arbitrum; or use the fiat on-ramp feature.
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Start Trading: Engage in spot or perpetual trading to earn XP (0.30 XP per USD in spot, 0.06 XP per USD in perpetual trades).
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Apply for Visa Card: Choose the standard or premium Gold Card, then use it for purchases to earn spending points (4-6 points per USD) that count toward the airdrop.
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Earn and Track Rewards: Regularly check your XP and points balance in the app to track progress toward eligibility.
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Join Referral Program: Share your referral link to earn commissions and increase XP through network activity.
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Stay Updated: Follow announcements for the token generation event, details on claiming airdrop rewards, and new platform features.
BasedApp Airdrop Details
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Token Generation Event: The exact date is not yet announced.
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Eligibility: Based on XP earned from trading and points from card spending.
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Reward System: Encourages active participation in trading and spending.
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XP Earnings:
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0.06 XP per USD for perpetual trading.
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0.30 XP per USD for spot trading.
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Points Earnings: 4–6 points per USD spent with the Visa card, depending on the card tier.
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Referral Bonus: Additional XP commissions from referrals meeting XP thresholds.
Frequently Asked Questions (FAQ)
Q1: Is BasedApp safe to use?
A1: Yes, BasedApp employs Multi-Party Computation (MPC) and maintains self-custody so users retain control over their assets, along with standard security best practices.
Q2: Can I keep my crypto private keys?
A2: Yes, BasedApp is a non-custodial wallet, meaning users maintain control of private keys at all times.
Q3: Which cryptocurrencies can I trade on BasedApp?
A3: Popular assets like BTC, ETH, SOL, and HYPE tokens are supported, with ongoing expansion.
Q4: How do I use the Visa debit card?
A4: Apply for the card through the app, link it with your crypto wallet, and spend at millions of merchants globally like any Visa card.
Q5: What happens after the BasedApp token generation event?
A5: Eligible users will receive $BASED tokens proportional to their XP and points earned; details will be shared by BasedApp on how to claim and use tokens.
Q6: Does BasedApp support fiat conversions?
A6: Yes, it offers on/off ramps for fiat currency, making it easier to convert from crypto to cash and vice versa.
This comprehensive overview shows how BasedApp merges Web3 trading and real-world spending with rewards incentivizing active user engagement, making it a promising platform in the crypto ecosystem.
