0x is taking the flood to PUSH competition to boost the $ 2.3B Dex Aggregator Market component
0x, a decentralized exchange of exchange infrastructure, has announced the acquisition of a rival flood, a step by the firm said it will help compete in the Hyper Competitive Aggregation market.
Decentralized exchange – or Dexs – is a foundation of Defi ecosystem. They let blockchain users change between possessions without the need for a mediator or middleman like a centralized exchange.
Aggregators like 0x’s Act as a one-stop-shop for entrepreneurs, looking for all the Dexs there to find the one that offers the most efficient trading, for a small fee. The competition is fierce and often exists in razor-thin margins.
It was the owner of the flood integration software that motivated the acquisition, Amir Bandeali, CEO of 0x, told CoinDesk in an exclusive interview.
0x uses its own trading simulation technology to check how well the integration works -with the software compared to its competitors, Bandeali said. “We were able to take a look at the flood and run similar types of trials and we were very impressed with the data we saw.”
“Everything has been done from the beginning,” Francesco Baccetti, co-founder and CEO of Flood, told CoinDesk. “We re -write the entire clamp to get the level of performance we have today.”
The acquisition has been first in 0x since the company established in 2017. A spokesman for 0x has refused to share how much it paid for the flood, citing contractual obligations. Baha lifted $ 5.2 million from investors in a February 2024 seed funding.
Dex aggregators are a big business. In the past week, the top 12 combined -with Easy Nearly $ 10 billion worth of volume replacement, around 10% of all on-chain trading, according to data compiled by Fredric Haga, Dune Analytics co-founder.
Aggregators with tradable tokens are appreciated at a combined $ 2.3 billion, according to Data from coingecko.
0x is one of Dex’s oldest aggregators. But this is not the biggest.
In Ethereum and other compatible blockchains, constantly replacing 1inch and cow hold The most trading of the combined, while in Solana, Jupiter is dominant.
Bandeali said he hopes that by incorporating the technologies of the two companies, 0x can win market sharing from larger combined -with both Ethereum and Solana.
‘Niche domain’
Another motivation for acquisition is the team of flood developers.
“This is a pretty niche domain,” said Bandeali, who explains that it is very difficult for his firm to find talented developers who specialize in integrating and trading trading.
Having the right developers is therefore important to the continued success of a combined -with -one.
“It’s simple but it’s really complicated,” he said. “It is becoming more complicated as new chains and new launching tokens.”
The reward for validating the best swaps is great. Cow swap is set to Take This year’s income is nearly $ 11 million, according to Defillama data. .
0x also expanded to other places, such as providing APIs that include this combined -with other products, and trading analytics.
But improving its main integration product -including it, in which the powers exchanged apps such as Coinbase Wallet, Robinhood, Phantom and Farcaster, is still the main focus.
And in getting more complicated during the day, demand for aggregators is likely to continue to rise.
“We’re just trying to abstract the complexity faster than created for our customers,” Bandeali said.
Read more: Dex Aggregator 1inch combines Zksync to boost cross-chain swaps
