Turtle Club announced the closing of a $6.2 million seed funding round to advance its on-chain liquidity distribution protocol. The funding round was led by THEIA, with participation from Susquehanna (SIG), Laser Digital, Consensys, Selini, RE7 Capital, L2IV, Archimed Capital, Trident Digital, Bodhi Ventures, Shorewoods, Triton Liquid, AUROS Global, Chorus One, Frachtis, Moonhill Capital, Tulipa Capital, and others. And notable angel investors include Ethereum co-founder Joseph Lubin, Wintermute co-founder Yoann Turpin, and Ryan Fang of Ankr.
What Turtle Club does: Turtle Club enables on-chain liquidity distribution by allowing liquidity providers (LPs) to earn rewards across multiple protocols. And the protocol also helps projects and distribution partners align incentives, create visibility into liquidity costs across chains, establish risk-adjusted benchmarks for protocol categories, and design more sustainable incentive models. The capital providers benefit from transparent metrics that guide strategic deployment.
Since launching in March 2024, Turtle Club reports:
— 315,000+ registered wallets
— $2.3+ billion in total value bootstrapped
— 51 integrated protocols
— $550 million deployed in 45 days via its first chain bootstrapping campaign
What the funding will be used for: The funding supports the project’s mission to improve how liquidity is coordinated and deployed across decentralized finance (DeFi) ecosystems.
Turtle Club will also use the proceeds to expand its engineering team, support new protocol integrations, and grow its distribution network.
KEY QUOTE:
“As liquidity becomes more fragmented across chains and protocols, the need for structured, transparent distribution has never been greater. This round allows us to continue building mechanisms that reward capital providers fairly, help protocols design sustainable incentive programs, and support a more efficient, transparent DeFi liquidity environment. At the end of the day, our mission is simple: deliver the best-quality dealflow and the best possible service to LPs. When you consistently do both, everything else follows.”
Essi Lagevardi, CEO of Turtle Club
