Chainwire, San Francisco, USA, February 8, 2024
Flood helps dApp developers streamline, own, and monetize their order flow.
Flood, a protocol for order routing, management, and settlement, today announced a $5.2 million seed funding round led by Bain Capital Crypto, with participation from Archetype and Robot Ventures.
Flood provides decentralized application (dApp) developers with a suite of tools to own and manage the entire lifecycle of their application order flow. As the only decentralized exchange (DEX) currently available on the market with operational hooks, the user experience allows traders to settle trades quickly while remaining seamless within the Flood ecosystem.
DeFi’s acceptance of off-chain liquidity sources is increasing as it continues to pursue better pricing and better UX. Flood aims to keep liquidity, applications, and users on-chain by making it easy for new developers to integrate optimal execution and swap pricing into their dApps. This approach not only improves the efficiency and attractiveness of DeFi platforms, but also aligns with the spirit of decentralization by maintaining transaction integrity within the blockchain ecosystem.
Francesco, Flood’s co-founder and CEO, is an engineer by training and has extensive cryptocurrency experience. As a software engineer at UMA, he has contributed to the development of fundamental blockchain-based products throughout his career. Additionally, Flood’s co-founder Jan is an experienced developer in the cryptocurrency space. Jan is the author of Neuronika, a large-scale Rust machine learning library.
“The democratization of liquidity and payments is the next step in a fully accessible cryptocurrency ecosystem,” said Francesco. “Flood is committed to simplifying the complex world of blockchain trading through innovative means not yet explored in traditional exchanges. We hope our technology will serve as a stepping stone for future adoption of digital assets.”
“We are very impressed with the research and engineering of the Flood router,” said Alex Evans, Partner at Bain Capital Crypto. “Flood makes optimal transactions incredibly simple for developers to integrate into any application. We’re excited to work with a team that offers the best prices for everyone.”
Flood will use the new capital to grow its team and expand integrations with new blockchains and DEXes. Currently operating on Arbitrum One, Flood is scheduled to enter the Ethereum Mainnet, Base, and Optimism blockchains in early 2024.
“Flood is quickly resonating into the mainstream for scalable, highly optimized order execution and democratizing efficient access to capital for all types of developers and users,” said Ash Egan, founder of Archetype. “We, along with our colleagues at Bain Capital, are very excited to publicly announce our partnership with Francesco and the Flood team.”
Users can learn more about Flood by visiting Flood.bid.
About the flood
Consisting of innovative liquidity collectors, settlement contracts, internally built, highly optimized solvers, and logic addition hooks, Flood’s protocol provides developers with a customizable toolkit for creating optimal routing systems for their specific needs. Since launching in November 2023, Flood has recorded over $1.3 million in trading volume across nearly 30,000 transactions.
With virtually no initial configuration required, developers can use Flood to monetize the order flow of their applications and provide users with gas-free transactions, optimal routing, and the best execution quality. Flood’s Optimal Fulfiller is also available through FloodSwap, a DEX that has already generated thousands of dollars in surplus for traders. The protocol is currently published on Arbitrum One and is expected to be available on the Ethereum Mainnet, Base, and Optimism in early 2024.
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