Based has emerged as the top revenue-generating builder on Hyperliquid, amassing $11.5 million since October, according to OAK Research. Over the past 30 days, Based processed $6.96 billion in transactions, surpassing Phantom's $5.29 billion and Insilico's $4.25 billion. Supported by Ethena, Based's success is attributed to its direct integration with Hyperliquid's trading interface, user-friendly mobile app, and integration with credit card and HIP-3 markets.