PANews reported on September 8 that according to official news from Ethena Labs, it has made a strategic investment of millions of dollars in Based, an important participant in the Hyperliquid ecosystem, and reached a partnership.

This partnership will promote the adoption of USDe, USDtb, and other unreleased Ethena products on Hyperliquid. Furthermore, Based plans to support USDe and USDtb as payment options on its debit card and embed savings functionality to further expand product use cases. Notably, this investment will exclusively benefit sENA token holders, with future sENA stakers receiving exclusive Based Points rewards.

It is reported that Based is the largest builder code platform in the Hyperliquid ecosystem, accounting for approximately 7% of the current perpetual contract trading volume.