Glossary
Based
Internet slang of approval — used in crypto to describe takes, positions, or projects that the speaker enthusiastically endorses, often counter to mainstream opinion.
"Based" entered internet slang as a positive descriptor for opinions or positions that the speaker considers correct and unapologetic — particularly when those positions go against mainstream consensus. Crypto has thoroughly adopted the term.
A "based take" is one the community endorses; a "based move" is a well-played trade or strategy. The opposite is "cringe". Coinbase's Base L2 deliberately leaned into the term as part of its positioning, with the community calling it "Based" affectionately.