Based Referral Code — 10% Point Bonus

Sign up through the Based referral link to get a 10% bonus on all points earned. Based launched in September 2024 on Coinbase's Base L2. The multiplier attaches at signup — no separate claim step. One key fact: Based has no published smart contract audits.

Based Exchange — what the 10% points bonus gives you

Every 100 base points your trading generates becomes 110. Points accumulate through trading volume. The platform is in an early accumulation phase. Participating now may mean a larger share of future distributions if a token launches.

Based launched in September 2024. That is roughly 18 months old as of March 2026. Newer than Hyperliquid, dYdX, or GMX. Newer protocols at earlier points-program stages can offer higher allocations per unit of activity than mature programs with large user bases. This cuts both ways: higher potential per user, but also higher protocol risk.

Based Exchange fees vs the DeFi perp market

Based charges 0.02% maker (2 bps) and 0.05% taker (5 bps). Same base rates as Paradex and Extended.

At $100,000 daily taker volume: Based costs $50/day. Hyperliquid with code AWD costs roughly $33.60. Reya costs $40. dYdX at base tier costs $50. GMX V2 at 0.06% average costs $60.

Based sits in the middle — cheaper than GMX, matching dYdX at base tier, more expensive than Hyperliquid and Reya.

What Base L2 means for traders

Base is Coinbase's Ethereum L2. It launched in mid-2023 and is now one of the most active L2 networks by transaction count. Based benefits from Coinbase infrastructure, low gas fees, and a growing DeFi ecosystem.

For traders already on Coinbase or holding Base assets, the bridging path is more direct than Arbitrum, Starknet, or purpose-built chains. Assets on Coinbase can reach Base with lower fees than bridging from Ethereum mainnet.

Leverage goes up to 50x on major pairs. Around 20 pairs are available, covering BTC, ETH, SOL, and other liquid assets.

The audit gap on Based

Based has no published smart contract audits as of March 2, 2026. Base L2 provides a reliable settlement layer. But the application-level contracts — order matching, liquidation engine, and margin calculations — have not been independently reviewed by a named firm.

A clean UI does not replace an audit. Size positions accordingly.

Based vs Hibachi — two unaudited newcomers

Based (on Base L2) and Hibachi (on Arbitrum) share similar fee structures (0.02% maker, 0.05% taker), similar leverage caps (50x), similar points bonus rates (10%), and both are unaudited. The key difference is the ecosystem: Based sits in the Base/Coinbase ecosystem, Hibachi in Arbitrum.

Based has more pairs (around 20 vs Hibachi's 15). Both are narrower than Hyperliquid or dYdX. Based benefits from Coinbase infrastructure and support. Hibachi offers a simpler interface on Arbitrum.

Early-stage point farming on Based

Based is pre-token with an active points program. Hyperliquid (HYPE), dYdX (DYDX), and Blur (BLUR) all rewarded early on-chain volume with generous retroactive distributions. The strategy: trade small positions consistently, accumulate points, and wait for a potential token event. The 10% referral bonus accelerates accrual without adding risk. Based has no published audits and a small user base. Treat all capital deployed as high-risk. Spreading activity across Based, Extended, and Hibachi diversifies risk while building exposure to potential airdrops.

How to activate the Based points bonus

Click the referral link above. Connect your wallet. Sign the authentication message. The referral associates with your account and the 10% multiplier activates immediately.

Deposits require bridging to Base L2 via the Based bridge UI or any standard Base bridge. Bridging from Coinbase to Base is the lowest-friction path. USDC is the primary collateral. Deposits typically confirm within a few minutes when bridging from Coinbase directly to Base.

Frequently Asked Questions