Base protocol Limitless raises $4M, backed by Coinbase Ventures and Arthur Hayes

Limitless, a trading prediction market built on Base, raised $4 million in a round led by Coinbase Ventures.

Limitless, a price prediction platform on Base (BASE), is attracting attention due to its high user interest. On Tuesday, June 1, the protocol raised an additional $4 million in investment in a funding round led by Coinbase Ventures. This latest round brings Limitless’ total funding to $7 million.

1confirmation, Collider, Node Capital, and Paper Ventures were among the other investors. At the same time, Maelstrom, which is Arthur Hayes’ family office, also joined the funding round, while Hayes joined as an advisor to the firm.

The firm has raised the capital in anticipation of its token generation event. At the same time, it has unveiled a points program targeted at its most active users. Users can earn points by using its services, providing liquidity, and referring other users to the platform.

In an effort to boost engagement, Limitless will distribute the tokens to the most active users through an airdrop event.

Limitless achieves over $250 million in volume

The investor interest came partially due to significant engagement with the Limitless platform. So far, investors have made $250 million in bets on the platform. Part of the reason for this, according to Limitless, is the focus on ease of use and user experience. For this reason, Limitless also released a new mobile-first trading experience.

“The future of trading is easy, fast, and powered by an army of token holders. We’re excited to bring this vision to reality,” said CJ Hetherington, CEO at Limitless Labs.

Limitless is a prediction market, enabling users to bet on short-term price movements in crypto. This includes bets on prices in minutes, hours, or days. According to the firm, this creates a new, user-friendly way to trade in the crypto market.