Quick take:
- Flood plans to use the new capital to grow their team and expand their integrations with new blockchains and DEXs.
- Flood is currently available on Arbitrum Onem but there are plans to expand to Ethereum Mainnet, Base, and Optimism in Q1 2024.
- The company’s decentralised aggregator platform supports gasless and MEV-free trades.
Flood has announced a $5.2 million seed round led by Bain Capital Crypto. The fundraising also attracted participation from Archetype and Robot Ventures. The decentralised aggregator liquidity protocol plans to use the new capital to grow its team and expand and add integrations with new blockchains and DEXs.
According to Flood’s website, the platform is currently available on Arbitrum Onem but there are plans to expand to Ethereum Mainnet, Base, and Optimism in Q1 2024.
The company offers Flood Optimal Fulfiller, which allows developers to monetize their application’s order flow and provide their users with gasless trading, optimal routing, and the best possible execution quality.
Although the platform supports any token chosen by the trader as long as the fulfiller they choose supports, the Flood Optimal Fulfiller currently supports USDC, USDT, DAI, WETH, WBTC, LINK, GMX, with more tokens scheduled for addition in Q1 2024.
Commenting on his company’s fundraising, Flood’s Co-Founder and CEO, Francesco said in a statement: “Democratization of liquidity and settlement is the next step in a fully accessible cryptocurrency ecosystem. Flood is committed to simplifying the complex world of blockchain trading through innovative means that have yet to be explored by traditional exchanges. We hope that our technology will be a stepping stone into the future adoption of digital assets.”
Alex Evans, Partner at Bain Capital Crypto commented: “We’re extremely impressed with the research and engineering behind Flood’s router. Flood makes optimal trading extremely simple for developers to integrate into any application. We’re excited to partner with the team as they make the best price available to everyone.”
Ash Egan, Founder at Archetype thinks Flood is quickly becoming “a mainstay for scalable and hyper-optimized order execution.” The platform is democratising efficient access to capital for all types of developers and users,” said Egan. “We are ecstatic to publicly announce our partnership with Francesco and the Flood team alongside our friends at Bain Capital.”
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