0x Acquires Flood to Enhance Position in $2.3 Billion DEX Market
0x Acquires Flood to Strengthen Market Position
- 0x has acquired competitor Flood to enhance its competitiveness in the DEX aggregation market.
- The acquisition aims to leverage Flood's proprietary aggregation software and talented developer team.
- This is 0x's first acquisition since its inception in 2017; financial details were not disclosed.
- Flood previously raised $5.2 million in a seed funding round in February 2024.
- Top DEX aggregators facilitated nearly $10 billion in swap volume last week, representing 10% of on-chain trading.
- Aggregators with tradable tokens have a combined valuation of $2.3 billion.
- 0x seeks to gain market share from leaders like 1inch and CoW Swap on Ethereum and Solana.
- Demand for efficient DEX aggregators is expected to grow as DeFi complexity increases.
- 0x also focuses on expanding APIs and trading analytics alongside improving core aggregation services.