Key Takeaways:
BasedOneX, the top builder on Hyperliquid, has launched the Based Foundation to govern its transition into a full ecosystem.
The Foundation confirmed the launch of the native $BASED token in Q1 2026, featuring governance and staking utility.
Users must sign the Terms of Use by February 8, 2026, to participate in the upcoming Genesis Event.
BasedOneX, currently the fastest-growing platform on the Hyperliquid network, has formally announced the creation of the Based Foundation. Boasting an annualized revenue of approximately $30 million, the protocol is leveraging its financial strength to evolve from a standalone application into a comprehensive ecosystem. The new Foundation is tasked with steering the development of the “Crypto Superapp,” a unified platform designed to fulfill the vision of “trade anything, spend everywhere,” ranging from perpetuals and prediction markets to on-chain commerce and FX payments.
Building the Superapp Infrastructure
The establishment of the Foundation marks a strategic pivot from a single decentralized application to a multi-vertical infrastructure. BasedOneX has already cemented its status as the number one builder on Hyperliquid and a leading interface within the Polymarket ecosystem. Under the new governance structure, the Foundation will manage protocol development and the rollout of consumer-facing features, specifically targeting payment rails and foreign exchange markets. The entity will also oversee ecosystem expansion through builder grants and hackathons, utilizing its substantial revenue stream to compete with broader DeFi suites like Ambire or ZeroLend.
BasedOneX has announced the creation of the Based Foundation
The $BASED Token and Genesis Event
In conjunction with the restructuring, the Foundation has confirmed the launch of the native $BASED token, scheduled for the first quarter of 2026. The token is designed to anchor the ecosystem, providing utility through governance rights, fee discounts, and staking mechanisms. To participate in the Genesis Event – which implies potential airdrop allocations – users are required to formally accept the Terms of Use. The window for this action is strictly limited; participants must sign directly via the Based Mobile App or the official website before the deadline of February 8, 2026, at 12:00 PM UTC. Details regarding tokenomics and vesting schedules are expected to be released closer to the generation event.
Market Implications
This move is widely viewed as a significant catalyst for both the Hyperliquid and Polymarket ecosystems. With valid revenue models already in place, BasedOneX distinguishes itself from speculative projects by having the capital to execute its roadmap immediately. For holders of Hyperliquid (HYPE) and active prediction market traders, the transition represents a maturation of the underlying infrastructure, potentially driving new liquidity and adoption waves when the $BASED token goes live early this year.
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