Decentralized finance protocol DFlow raised $5.5 million, in a round led by hiFramework, to bring payment for order flow part of crypto markets. By 0x_tracy.
Decentralized finance protocol DFlow has raised $5.5 million in a financing round led by crypto venture capital firm Framework Ventures, the project said on Tuesday.
DFlow is a DeFi protocol that allows market makers to purchase order flow directly from wallet applications, with the guarantee that the market maker will provide execution at the best price. DFlow defines best price as the lowest public price aggregated against both centralized and decentralized exchanges.
“If you look at equities markets, retail investors don’t trade directly on the NYSE, they trade on Robinhood against market makers, who may hedge on NYSE,” said DFlow founder and CEO Nitesh Nath, who previously worked as a quant researcher at the Chicago-based trading giant DRW. “We’re improving that system in crypto, but the high level ideas are similar.”
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