Based is a recent word used for being yourself and not caring what others think of you, to carry yourself with swagger. That usually ends up being blind with pride (inflated ego, overconfident) and saying something with rudeness (even if it is true). We suggest to avoid a rude delivery of truth/info, therefore to delivery it nicely (even if you are proud of yourself and full of confidence). It is important to differentiate between honesty and being nice-less (an asshole).