Based Referral Code — 10% Fee Rebate

Sign up through the Based referral link to get a 10% monthly rebate on your trading fees. Based launched in September 2024 on Coinbase's Base L2, ran three points seasons, and completed its TGE on March 30, 2026 — so this page pitches what actually exists now: a fee rebate on a live-token venue. One key fact stands: Based has no published smart contract audits.

The points era is over — BASED launched March 2026

The BASED token went live on March 30, 2026, distributing 235 million BASED (23.5% of the 1 billion supply) to Season 1 and Season 2 points holders plus NFT holders, unlocked at TGE. Season 3 was the final points season: it ended May 4, 2026, and its 50 million BASED (5% of supply) finished distributing on June 7, 2026, with reported sybil clawbacks.

No Season 4 is announced as of July 2026. If you see "Based points farming" guides, they describe a program that already paid out. Earning on Based today means the fee rebate, affiliate fee share, and BASED staking.

What the referral gives you now — 10% monthly fee rebate

Referred users get a 10% rebate on their monthly trading fees, and affiliates earn a share of trading fees across three tiers. That replaced the points-referral bonuses, which ended with Season 3.

For a live-token venue this is the cleaner deal: the benefit is cash-denominated fee flow rather than a speculative conversion rate.

BASED staking — the post-TGE earn program

Post-TGE rewards moved to tiered BASED staking with dynamic APY that falls as more tokens stake. Combined with the affiliate fee share, the incentive structure now pays from protocol economics rather than a points budget.

Based Exchange fees vs the DeFi perp market

Based charges 0.02% maker (2 bps) and 0.05% taker (5 bps). For comparison, Paradex charges zero trading fees and Extended runs 0% maker / 0.025% taker.

At $100,000 daily taker volume: Based costs $50/day. Hyperliquid with code AWD costs roughly $43.20. 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. The 10% monthly rebate moves it down the table for referred users.

What Base L2 means for traders

Base is Coinbase's Ethereum L2. It launched in mid-2023 and is 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 not published a smart contract audit as of July 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 and a completed TGE do not replace an audit. Size positions accordingly.

Based vs Hibachi — same tier, different stage

Based (on Base L2) and Hibachi (on Arbitrum) share similar leverage caps (50x) and both lack published audits. The stage differs: Based is post-TGE with a tradable token and a fee-rebate referral, while Hibachi is still pre-token with a points season in its final phase. Fees differ too: Based charges 0.02% maker / 0.05% taker, while Hibachi runs 0% maker / 0.045% taker.

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.

How to activate the Based fee rebate

Click the referral link above. Connect your wallet. Sign the authentication message. The referral associates with your account and the 10% monthly fee rebate applies from your first month of trading.

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