가츠

DROPS E33: @edison0xyz from @BasedOneX: The Robinhood of Hyperliquid and why AI Agents Need Wallets Edison is a co-founder of Based, a non-custodial trading platform built on top of @HyperliquidX. We discuss the four pivots he went through, the fraud attack that wiped out profitability, and a $200K-in-the-bank moment where he had to decide whether to keep going or walk away - and the numbers now speak for themselves. $40B in trading volume and $50M in revenue in under 8 months. We talk about: - Losing 95% of his net worth in the Terra/Luna collapse in 2022 - Four pivots in four years - from DeFi yield protocol, to stablecoin payment gateway, to crypto card issuer, to where Based is today - Why builders in crypto need to also be traders - How Based monetises on top of Hyperliquid - The three buckets of crypto traders - retail, retail pro, and pro - Why AI agents are the next massive wave of wallet users - The fraud attack in April 2024 that wiped out a profitable card business overnight And much more.... Timestamps: 0:00 - Introduction 1:08 - Welcome to DROPS 1:47 - Who are you? 2:20 - What is Ziliqa? 3:42 - Ziliqa Joining Story 6:04 - Inspiration to build own project 8:16 - LUNA and the Promises 10:04 - Building in Terra ecosystem 11:37 - Terra Crash 13:10 - Hyperliquid X Terra 13:50 - The Recovery Playbook 17:04 - Builder vs Trader? 20:26 - How to raise funds? 31:05 - Hit by a Fraud 34:17 - Motivation for Builders 37:54 - What is BASED? 38:53 - Builder's Code 39:37 - Comparisons with Binance and Coinbase Pro 40:41 - Importance of Social Variety 42:33 - From Last Shot to $15M Revenue 44:06 - Role of @ethena in @hyenatrade 44:53 - Believe in yourself 46:48 - What different BASED is doing with perps? 49:57 - BASED AI Gateway 54:51 - Outro

This Sunday, I'm releasing a new DROPS episode with @edison0xyz
from @BasedOneX. Edison is a co-founder of Based, a non-custodial trading platform built on top of @HyperliquidX. We discuss the four pivots he went through, the fraud attack that wiped out profitability, and a $200K-in-the-bank moment where he had to decide whether to keep going or walk away. We talk about: - Losing 95% of his net worth in the Terra/Luna collapse in 2022 - Four pivots in four years - from DeFi yield protocol, to stablecoin payment gateway, to crypto card issuer, to where Based is today - Why builders in crypto need to also be traders - How Based monetises on top of Hyperliquid - The three buckets of crypto traders - retail, retail pro, and pro - Why AI agents are the next massive wave of wallet users - The fraud attack in April 2024 that wiped out a profitable card business overnight And much more.... DROPS out Sunday!

This Sunday, I'm releasing a new DROPS episode with @edison0xyz
from @BasedOneX. Edison is a co-founder of Based, a non-custodial trading platform built on top of @HyperliquidX. We discuss the four pivots he went through, the fraud attack that wiped out profitability, and a $200K-in-the-bank moment where he had to decide whether to keep going or walk away. We talk about: - Losing 95% of his net worth in the Terra/Luna collapse in 2022 - Four pivots in four years - from DeFi yield protocol, to stablecoin payment gateway, to crypto card issuer, to where Based is today - Why builders in crypto need to also be traders - How Based monetises on top of Hyperliquid - The three buckets of crypto traders - retail, retail pro, and pro - Why AI agents are the next massive wave of wallet users - The fraud attack in April 2024 that wiped out a profitable card business overnight And much more.... DROPS out Sunday!

The $BASED airdrop checker is live. If you’ve been trading or spending on Based, you can now view your airdrop allocation. Check your eligibility: basedfoundation.com/check Stay Based.

The Based Master Plan, Part 2 The first master plan I wrote four months ago is now well into execution. Build the financial layer for trading and spending. Grow an ecosystem of developers on top of it. Turn trading into culture. Bridge on-chain and off-chain finance. Give people a reason to keep coming back. The reason we started with a trading app is simple. That's where the users were, that's where we could prove the product worked, and that's where we could generate enough revenue to fund what comes next. Now we're ready for the next part. What changed I should explain something that has shifted materially since we wrote that first piece. AI is getting dramatically better, faster than most people expected. Eight months ago our engineers were using it because it typed faster than humans. That sounds almost quaint now. Today, frontier models produce work that is genuinely close to what strong developers produce themselves, and the iteration loops are getting tighter every few months. The implication of this is straightforward. If any team can build any software product quickly and cheaply, then software is not a defensible business anymore. The value has to come from somewhere else. It comes from the users you have, the liquidity you sit on top of, and the rails that actual commerce flows through. That is what Based has been building. And it is why the next phase looks the way it does. The actual shift that is coming Here is what we believe will happen over the next 6 months, and what we are positioning for: 1. The next wave of users won’t be human Everyone will have at least one agent running alongside them handling tasks, making decisions, executing transactions. Companies will run fleets of agents working concurrently. The number of "users" on any financial platform will multiply, but most of them won't have names. 2. AI inference usage will increase dramatically from where it is today. Right now, most AI inference usage is concentrated around chat apps and, more recently, coding workflows. That will change. We are going to start seeing collaborative agents automate more parts of work, consumption, finance, and personal decision-making. The amount of AI-inference spending required to support that world will rise materially. 3. Spending is the next pillar that gets disrupted Programming was one of the first domains to get reshaped in a visible way. Spending is next. We believe AI agents will increasingly compute, compare, aggregate, and execute commerce decisions on behalf of users. Over time, AI will compress consumer decision-making itself; finding better prices, better routes, better timing, and more efficient actions. The question worth asking is: where does all of that activity settle? Who owns the rails? Here is what we are going to do The goal is for Based to be the financial execution layer for both humans and agents. Not a wallet. Not a trading app. The system where economic intent, whether it comes from a person or an agent acting for that person, gets turned into action. Here is how we get there. Build the inference layer. If agents are going to operate at scale, they need reliable access to intelligence. That means inference has to become easy to consume, easy to pay for, and easy to embed into workflows (it needs to flow like liquidity). Based has already built AI inference infrastructure (ai.based.one) that can be natively used by both agents and humans. More importantly, payments for this infrastructure have been designed to settle through Hyperliquid and Based Pay, our TradFi payment system. We have already done this. Drive real usage on top of it. Infrastructure without usage is just overhead. We are releasing consumer products that sit on top of the inference layer and generate compounding demand. Product usage drives inference usage. Inference usage strengthens the infrastructure. That loop is what turns an infrastructure bet into a real business. Own the commerce interface. The long-term opportunity is not merely selling access to intelligence. It is owning the interface where intelligence meets action. If AI becomes responsible for more decision-making, then the most valuable layer will not just be the model, or the app, or the wallet in isolation. It will be the system that can take an intent and translate it into execution across trading, payments, purchasing, and financial actions. Expand what "Trade Everything, Spend Everywhere" actually means. When we came up with that phrase, it described a product. Now it describes something larger. Trading is not just perps and spot. It is any decision with an economic outcome that can be turned into an executable action. Spending is not just cards and checkout. It is any transfer of value, regardless of whether the entity initiating it is a human or an agent. Intelligence is not a chatbot bolted onto a wallet. It is the layer that sits inside the commerce stack and optimizes how capital moves through it. When commerce becomes programmable, the companies that win will be the ones that already understand liquidity, settlement, incentives, and distribution as a single system. That is what we have been building. Why BASED We build around one of the most powerful ideas in crypto: that open financial rails enable faster experimentation and stronger alignment than closed systems do. We are making a clear bet on two things. First, that Hyperliquid becomes the dominant chain for AI commerce. The team is building toward housing all of finance on a single, fast, neutral chain. If they get there, it becomes the natural settlement layer for a world running on programmatic transactions. We have built most of our infrastructure there already. There is no comparable alternative. Second, that agentic commerce is real and coming faster than most people think. OpenClaw gave an early glimpse of what it looks like when agents start replacing humans as the primary users of financial systems. That future is not theoretical for us. We have been building with agentic tooling for longer than it has been fashionable to talk about it. We were early on Hyperliquid. We were early on agentic infrastructure. Being early is the only edge that consistently compounds. Why this moment Software is getting cheaper to build. Intelligence is getting cheaper to access. The window to build a defensible position around liquidity, users, and commerce rails is not permanent. We have been in the right places early before. We intend to do it again. The TGE is not just a financial event. It is the moment when the people who built this community with us get a real, structural stake in what comes next. We do not just want to build products for our users. We want to build the future with them. So in short, the Based Master Plan, Part 2: Build the payment and settlement rails for AI inference Release consumer products that drive compounding usage on top of them Own the interface where intelligence meets financial execution Make sure the people who built this with us share in what it becomes The future is Based. p.s: this article is also published on Based Page based-master-plan.based.page. I one-shotted it with Based AI by the way.

x.com/i/article/2031…

Introducing Based Pages, agentic page deployments for the AI era. We built BasedAI to give agents the ability to think. Based Pages is the next piece: a native deployment layer where agent output goes from prompt to live URL in seconds, with no pipeline, no infrastructure setup and no friction between what an agent builds and the world being able to use it. Every page deploys instantly to its own subdomain, settles via x402 on Hyperliquid, and works with any agent or workflow. Try it now: based.page Check out the demo: introducing.based.page The future is Based.

Introducing Based AI, the first commoditised AI inference gateway on @HyperliquidX AI agents are going to make most future spending decisions and to do so, they need intelligence. The question is how that intelligence gets priced, delivered, and settled at scale as agentic commerce demand grows. Based AI is our answer. A single gateway to all AI models, where inference is consumed on a pay-as-you-use basis and settled via x402 micro-transactions on Hyperliquid, with privacy-first infrastructure that stores nothing and retains no logs. If you are building agents on Hyperliquid, plug in today. Explore BasedAI: ai.based.one The future is Based.