0x, the decentralized exchange infrastructure powerhouse, has officially announced its acquisition of rival Flood in a strategic maneuver to fortify its position in the fiercely contested DEX aggregator market. The acquisition, unveiled today, aims to leverage Flood’s cutting-edge aggregation software to enhance 0x’s competitive edge amid razor-thin margins and burgeoning swap volumes.
A Perfect Storm in DeFi
Decentralized exchanges, or DEXs, are the lifeblood of the DeFi ecosystem, providing users the autonomy to swap assets sans intermediaries. Aggregators like 0x serve as the linchpin, scouring the DEX landscape to unearth the most cost-effective trades for a nominal fee. The stakes are high, and the competition is relentless. As explored in our recent coverage of restaking’s potential to secure DeFi for institutional traders, the need for secure and efficient trading platforms is more critical than ever.
0x’s CEO, Amir Bandeali, expressed enthusiasm over the acquisition, noting that Flood’s proprietary software was a major incentive. “We were able to take a look at Flood and run similar types of tests, and we were very impressed with the data we saw,” Bandeali shared in an exclusive sit-down with CoinDesk. This endorsement underscores the potential synergies between the two companies and signals a robust path forward for 0x.
Francesco Baccetti, co-founder and CEO of Flood, echoed this sentiment, emphasizing that Flood’s technology was built from the ground up to achieve its current performance levels. “Everything got made from scratch,” he told CoinDesk, highlighting the rigorous development that has gone into their innovative stack.
A Battle for Market Supremacy
This acquisition marks 0x’s first since its inception in 2017, a notable milestone signaling its aggressive strategy to capture more of the $2.3 billion DEX aggregator market. Despite its longevity, 0x isn’t the reigning titan. On Ethereum and Solana blockchains, competitors like 1inch, CoW Swap, and Jupiter claim the lion’s share of trading volume.
Bandeali remains optimistic, believing that by melding Flood’s technology with 0x’s own, the company can challenge these larger aggregators. The lure of increased market share is potent, with DEX aggregators facilitating nearly $10 billion in swap volume over the past week alone, according to data from Fredrik Haga of Dune Analytics. This aligns with broader trends in DeFi, such as the Tokenized Apollo Credit Fund’s debut with a levered-yield strategy, which highlights the innovative financial strategies emerging in the space.
The People Behind the Code
Beyond technology, the acquisition is also a bet on talent. “This is a pretty niche domain,” Bandeali explained, underscoring the scarcity of skilled developers who specialize in aggregation and trade routing. This expertise is indispensable, especially as new chains and tokens proliferate, adding layers of complexity to an already intricate system.
The human element is crucial. As Bandeali candidly put it, “It sounds simple but it’s really complicated.” With the right team, 0x aims to keep pace with the ever-evolving DeFi landscape.
Eyes on the Future
While the financial terms of the acquisition remain under wraps due to contractual obligations, the strategic implications are clear. By enhancing its core aggregation product—already a staple in apps like Coinbase Wallet, Robinhood, and Phantom—0x is positioning itself to thrive in an increasingly convoluted DeFi world.
The company is not resting on its laurels. Beyond aggregation, 0x has ventured into offering APIs and trading analytics, broadening its scope and revenue streams. However, the focus remains on perfecting its flagship product to meet the surging demand for efficient, seamless swaps.
As DeFi continues to expand and mature, the role of aggregators is poised to grow in significance. “We’re just trying to abstract away the complexity faster than it’s created for our customers,” Bandeali remarked, hinting at the ongoing arms race in the DeFi space.
With this acquisition, 0x is not just playing catch-up; it’s laying down the gauntlet. The coming months will reveal how this gamble pays off amid a rapidly shifting market. Will 0x’s strategic play redefine the landscape, or will the incumbents hold their ground? Only time will tell.
Source
This article is based on: 0x Acquires Competitor Flood in Push to Boost Share of $2.3B DEX Aggregator Market
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
