Based Referral Code: AXIOM
10% Point Bonus

What you get with referral code AXIOM

Based referral code AXIOM gives every new trader a 10% point bonus on all perpetual trading activity. Points are the core incentive layer of the Based protocol — they accrue continuously as you trade, and the more you accumulate, the greater your share of future rewards distributions, liquidity mining programs, and protocol governance allocations.

A 10% bonus might sound modest, but it compounds meaningfully over time. If you trade $50,000 per month on Based, you earn 10% more points than a trader doing the same volume without a referral code. Over the course of a full trading season, that advantage translates directly into a larger slice of any rewards pool. Early adopters who activate their bonus through the AXIOM referral link and maintain consistent volume are the most likely to maximize their cumulative point total before any snapshot or distribution event.

Points accumulate from day one

No waiting period: The moment you connect through app.based.one/r/AXIOM and place your first trade, your point bonus is active. There is no minimum volume threshold, no lock-up period, and no need to hold a specific token. The referral code AXIOM simply boosts every point you would have earned by 10% from the very first transaction.

Points and protocol rewards

Earn as the protocol grows: Based's points system is designed to reward early and consistent traders. As the protocol expands its market listings, deepens liquidity, and grows its user base on Base, the value of accumulated points is expected to increase relative to later participants. The 10% bonus from referral code AXIOM gives you a structural edge in this accumulation race compared to traders who joined without a code.

No gas overhead for the bonus

Points are tracked off-chain: The 10% point multiplier from code AXIOM does not require any additional on-chain transactions or gas spend. Your bonus is applied automatically by the Based protocol's points engine when your wallet is registered under the AXIOM referral. Every trade you make through the standard Based interface earns boosted points without any extra steps.

How to apply the referral code

1. Open Based through the referral link Navigate to app.based.one/r/AXIOM. The /r/AXIOM path automatically registers the referral code against your wallet address when you connect for the first time. Do not navigate away from this URL before connecting your wallet.
2. Connect an EVM-compatible wallet Click "Connect Wallet" and select MetaMask, Coinbase Wallet, Rabby, Rainbow, or any WalletConnect-compatible wallet. Based runs on Base — a fully EVM-compatible Layer 2 — so any wallet you already use for Ethereum works without additional configuration. If your wallet does not have Base added as a network, the Based interface will prompt you to add it automatically.
3. Bridge or deposit USDC on Base To trade on Based you need USDC on the Base network. If your USDC is on Ethereum mainnet, Arbitrum, Optimism, or another chain, use the official Base Bridge at bridge.base.org or a third-party aggregator such as Stargate Finance or Across Protocol to transfer your funds. Gas on Base is a fraction of a cent, so the only meaningful cost is the source chain bridge fee. Coinbase users can also withdraw USDC directly to Base from their Coinbase account at zero fee.
4. Trade and earn your 10% point bonus Once your wallet is funded and you've connected through the AXIOM referral link, open any perpetual position. Your 10% point bonus from referral code AXIOM is immediately active — every trade earns 10% more points than you would accumulate without the code. Track your points balance directly in the Based interface and watch your total grow with every trade.

Based fee structure

Based uses a competitive fee schedule designed to attract both retail traders and professional market makers on the Base chain. Fees are paid in USDC and are lower than most Ethereum mainnet DEXes thanks to Base's negligible gas costs. The table below shows the standard fee tiers on Based.

Funding rates on Based perpetuals are determined by the difference between the perpetual price and the spot index price, just like on centralized exchanges. When the perpetual trades above spot, longs pay shorts. When it trades below, shorts pay longs. The rate converges the perpetual price back toward spot over time through continuous market dynamics.

Gas costs on Base vs Ethereum mainnet

One of Based's most significant competitive advantages is its deployment on Base, where gas costs are a small fraction of those on Ethereum mainnet. On Ethereum L1, a single perpetual trade might cost $5–$50 in gas during high congestion. On Base, the same transaction costs well under a cent. This makes frequent trading, smaller position sizes, and active rebalancing strategies economically viable on Based in a way that is simply not possible on mainnet DEXes.

This gas efficiency, combined with the 10% point bonus from referral code AXIOM, makes Based an extremely attractive venue for traders who want to maximize their points per dollar of trading cost. Your effective cost per point earned is lower on Based than on any equivalent Ethereum mainnet protocol.

Based vs GMX and Avantis on Base

Based operates in a competitive landscape of decentralized perpetuals DEXes, with GMX and Avantis being two of the most relevant points of comparison. Here is how Based stacks up across key dimensions.

Based vs GMX

Chain and cost: GMX is the dominant decentralized perpetuals protocol on Arbitrum, with deep liquidity and a well-established GLP/GM liquidity model. However, GMX operates on Arbitrum and Avalanche rather than Base, which means its user base and ecosystem integrations are distinct. Based on Base benefits from Coinbase's distribution, the growing Base DeFi ecosystem, and near-zero gas costs that make it accessible to a broader range of traders. GMX offers referral fee discounts, while Based's AXIOM code provides a 10% point multiplier that can translate into protocol rewards as the ecosystem matures.

Architecture difference: GMX uses a pooled liquidity model (GLP for v1, GM pools for v2) where liquidity providers are the counterparty to traders. Based uses an on-chain orderbook where traders match directly against other traders and market makers. The orderbook model offers more transparent price discovery and avoids the price impact mechanics of pooled liquidity models at scale.

Based vs Avantis

Shared chain, different positioning: Avantis is Based's most direct competitor — both are perpetuals DEXes running on Base. Avantis launched earlier and built an initial user base within the Base DeFi community. Based differentiates through its interface design, fee structure, and active points program with bonuses like the AXIOM referral code's 10% multiplier. Traders who are considering both platforms should evaluate current liquidity depth, available markets, and the relative value of each protocol's incentive programs before committing volume to either.

For traders who want to maximize points earnings on the Base chain, Based's AXIOM referral code provides a clear and measurable advantage: every trade earns 10% more points than trading without a referral, making it one of the most straightforward incentive boosts available in the Base DeFi ecosystem today.

Based protocol features

Based is built from the ground up to take advantage of Base's unique position as Coinbase's official Layer 2 network. The protocol combines the speed and cost advantages of the Base chain with a trading interface designed to match the quality of centralized perpetuals venues.

Base chain: Coinbase's Layer 2

Base is an OP Stack rollup developed and maintained by Coinbase, one of the largest and most regulated cryptocurrency exchanges in the world. The chain launched in 2023 and quickly became one of the fastest-growing Layer 2 networks by total value locked and daily transactions. By building on Base, Based inherits several structural advantages: Coinbase's distribution network, Base's rapidly growing DeFi ecosystem, and the security guarantees of an optimistic rollup that settles to Ethereum mainnet.

The Base chain processes transactions in seconds and confirms them with near-instant finality for practical purposes. Combined with its sub-cent gas fees, this makes Base one of the best execution environments for high-frequency perpetual trading available anywhere in the blockchain ecosystem.

On-chain orderbook architecture

Transparent and auditable: Based uses an on-chain orderbook model where every order, fill, and cancellation is a verifiable blockchain transaction. Unlike AMM-based or pooled-liquidity perpetuals models, an orderbook DEX provides price discovery through the interaction of actual buy and sell orders. This means the spread you see is a genuine reflection of supply and demand, not an algorithmic approximation. You can also independently verify that your orders were handled correctly by inspecting the Base chain state.

USDC settlement

All positions denominated in USDC: Based uses Circle's USDC as its sole settlement currency. USDC on Base is natively supported by Circle's Cross-Chain Transfer Protocol (CCTP), meaning transfers from other chains can settle quickly and at low cost. Denominating in USDC eliminates the ETH price exposure that comes with ETH-collateral DEXes — your collateral maintains stable purchasing power regardless of ETH price movements while your positions are open.

Leverage and margin modes

Flexible position management: Based supports both cross-margin and isolated margin modes. Cross-margin uses your entire account balance as collateral across all positions, while isolated margin caps your risk to the collateral allocated to a specific position. Maximum leverage varies by market — major pairs like BTC/USD and ETH/USD typically support higher leverage than smaller-cap assets. Always confirm the leverage parameters for a specific market before opening a position.

Mobile-friendly interface

Designed for all devices: Based's trading interface is fully responsive and works on mobile browsers, including WalletConnect integrations for connecting mobile wallets. This matters on Base, where Coinbase Wallet's mobile app is a primary entry point for new users migrating from centralized exchanges. You can place, modify, and close positions from your phone with the same precision as the desktop interface.

About Based

Based (branded as BasedApp at app.based.one) is a decentralized perpetual futures exchange built natively on the Base blockchain. The protocol launched as part of the explosive growth of the Base DeFi ecosystem following Coinbase's introduction of its L2 network to the broader crypto community in 2023.

The name "Based" is a deliberate play on both the colloquial internet term for something admirable and authentic, and a literal reference to its home chain. The branding positions the protocol as a native member of the Base ecosystem — not a port from another chain, but a protocol designed specifically to take advantage of what Base offers: low fees, fast transactions, Coinbase's distribution, and access to a rapidly growing user base of crypto-curious retail traders.

Based operates as a non-custodial protocol, meaning no company or entity ever holds users' funds. All positions, collateral, and settlements are handled by the protocol's smart contracts on Base. The team behind Based has focused on building a clean, fast trading interface that reduces the friction typically associated with decentralized exchanges, making it approachable for traders migrating from centralized platforms like Coinbase, Binance, or Bybit.

The protocol's points program, activated through referral codes like AXIOM, is part of Based's strategy for growing its trader base during the early adoption phase. By rewarding early, consistent traders with bonus points that may translate into future protocol rewards, Based creates aligned incentives between the protocol's growth and its most active users. Traders who maximize their points accumulation during this period — including the 10% bonus from referral code AXIOM — are positioned to benefit the most as the protocol matures.

Based continues to expand its market listings, improve its interface, and deepen liquidity as the Base chain ecosystem grows. The combination of Base's technical advantages and Based's focused execution on the perpetuals use case has made it one of the most-watched new protocols in the Base DeFi space.

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