Turtle, the on-chain liquidity distribution protocol, has announced an additional $5.5 million in funding, bringing its total funding to $11.7 million. This latest raise follows a period of significant growth and product expansion for Turtle, which has established itself as Web3’s largest liquidity hub in Crypto. The protocol currently boasts over 358,000 connected wallets and has facilitated more than $5.5 billion in liquidity routed to its partners.
A New Primitive for On-Chain Liquidity
Turtle is dedicated to building the foundational infrastructure that governs how liquidity flows across the Web3 ecosystem. The protocol operates as the first Liquidity Distribution Protocol, effectively connecting capital with various protocols through a transparent, data-driven coordination layer. This layer is designed to curate investment opportunities, consolidate liquidity from multiple sources, and distribute it efficiently across an ever-expanding network of partners.
This systematic approach introduces much-needed structure to a market that has historically been fragmented. Turtle's model aligns the incentives of both liquidity providers and protocols, leading to more efficient and verifiable capital deployment. Essi Lagevardi, CEO of Turtle, emphasized the critical role of liquidity, stating, "Liquidity is the infrastructure everything else runs on. It’s long been opaque, fragmented, and expensive. We’re making liquidity programmable - transparent, efficient, and coordinated - so protocols can attract capital sustainably, and capital providers can deploy it with confidence."
The Three-Pronged Product Strategy
Turtle's product vision is built upon three core pillars that collectively define its comprehensive liquidity distribution network:
1. Curated Opportunities: Boosted Deals, Ecosystem Campaigns, and Web3 CRM
Turtle initially focused on curating the most advantageous earning opportunities within Web3. These opportunities are verified, structured, and designed for seamless and efficient participation. Through its Boosted Deals and large-scale ecosystem campaigns, including initiatives like TAC, Linea Ignition, Katana, and Avalanche, Turtle has been instrumental in helping leading networks bootstrap billions in liquidity via transparent, on-chain coordination.
2. Consolidated Liquidity: Turtle Vaults
Turtle Vaults provide liquidity providers with a mechanism to earn passive, risk-adjusted rewards without the need for manual allocation across numerous different venues. These Vaults serve as the bedrock for larger liquidity campaigns, significantly enhancing capital efficiency, improving risk management practices, and fostering long-term alignment between liquidity providers (LPs) and partner protocols.
3. Distributed Network: Earn Widget and Liquidity Leaderboard
The Earn Widget is a key component that empowers wallets, exchanges, and analytics platforms to seamlessly integrate Turtle's curated opportunities directly into their existing interfaces. This integration provides instant access to attractive yields for a broader user base. Complementing the Earn Widget, the Liquidity Leaderboard tracks wallet activity and social influence through integrations with platforms like Kaito and Cookie3. This feature incentivizes and rewards users and communities that actively contribute to liquidity distribution or refer new participants.
Collectively, these products establish a self-reinforcing distribution loop. They effectively curate, consolidate, and broadcast the most promising opportunities across an increasingly interconnected ecosystem.
Growing Institutional Backing
The recent funding round garnered significant support from a diverse array of institutional investors and angel investors. The following entities participated:
Follow-on Investors:
- •Bitscale VC
- •Theia
- •Trident Digital
Institutional Investors:
- •SNZ HOLDING
- •GSR
- •FalconX
- •Anchorage VC
- •Fasanara Capital
- •NRD
- •Tower 18 Capital
- •Varys Capital
- •Relayer
- •Coinix
- •Flowdesk
- •Wise3
- •JPEG
- •Reflexive
- •Amber
- •Gami Capital
- •Wise3 Ventures
- •and other notable investors.
Founders from:
- •Polygon
- •1inch
- •Gnosis
- •Altlayer.
Angel Investors from:
- •ECHO
- •Spartan
- •Hypernest
- •Sky9
- •Selini
- •Figment Capital
- •Binance
- •and other prominent figures.
Turtle has already garnered backing from over 150 of the world's leading on-chain and most active Liquidity Providers, forming the robust foundation of its liquidity network. The capital raised in this round will be strategically allocated to accelerate the development of Turtle's Earn infrastructure, expand its engineering team, and deepen integrations with protocols and ecosystems across multiple blockchain networks.
About Turtle
Turtle has emerged as Web3’s most significant liquidity hub, connecting over 358,000 wallets and coordinating more than $5.5 billion in provisioned liquidity. In the mere 18 months since its launch, Turtle has fundamentally redefined the dynamics of liquidity movement within Web3. It achieved this by introducing the pioneering Liquidity Distribution Protocol, an on-chain infrastructure designed to monetize activity through sophisticated wallet, vault, and API tracking mechanisms.
Positioned as the central nexus for structuring, packaging, and democratizing access to yield opportunities, Turtle empowers users to engage in best-in-class liquidity campaigns. Simultaneously, it secures preferential terms from its partner protocols. By leveraging the collective bargaining power of its user base and effectively reducing capital acquisition costs for protocols, Turtle has demonstrated its value, generating over $6 million in revenue and proving that sustainable coordination models can outperform short-term incentive-driven approaches.