Hashflow
Hashflow is a San Francisco-based DeFi infrastructure company operating an RFQ network that connects aggregators, wallets, and dApps with 25+ market makers across multiple blockchains, delivering zero-slippage, MEV-protected trade execution and over $25 billion in cumulative volume.
- Company typePrivate
- Founded2020
- HeadquartersSan Francisco, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Hashflow does
Hashflow is a San Francisco-based DeFi trading infrastructure company founded in 2020 that operates an RFQ (Request-for-Quote) network connecting takers—DeFi aggregators, wallets, and dApps—with a network of 25+ professional market makers across multiple blockchains including Ethereum, Solana, Arbitrum, Optimism, and Polygon. Its core product, the RFQ Engine, delivers guaranteed exact-price execution with zero slippage and MEV protection, addressing the persistent DeFi pain points of failed trades, front-running, and fragmented cross-chain liquidity. The platform has cumulatively processed over $25 billion in RFQ volume and serves more than 30 integrated protocols.
The product portfolio comprises the RFQ Engine (core protocol), the Hashflow App (retail trading interface), HFT Staking (token staking with rewards), and Hashflow Governance (on-chain voting portal). Distribution is API-first, with self-serve developer onboarding via docs.hashflow.com; end users also access trading directly through the web app. Go-to-market combines product-led growth, developer relations through Discord/Telegram/X, and institutional onboarding of market makers and integrator partners. Security is reinforced through audits by Quantstamp and OpenZeppelin plus a live Immunefi bug bounty.
The business model is anchored on transaction fees from RFQ execution, supplemented by staking-related token economics. Hashflow has raised approximately $29.4 million across seed and Series A rounds, with the July 2022 Series A priced at a $400 million post-money valuation and backed by Electric Capital, Coinbase Ventures, Kraken Ventures, Dragonfly, Wintermute, Jump Crypto, and others. Revenue is not publicly disclosed, and the company operates with an 11–50 person team from San Francisco.
Hashflow firmographics
Firmographics- Name
- Hashflow
- Legal name
- Hashflow
- Website
- https://hashflow.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Hashflow is a San Francisco-based DeFi infrastructure company operating an RFQ network that connects aggregators, wallets, and dApps with 25+ market makers across multiple blockchains, delivering zero-slippage, MEV-protected trade execution and over $25 billion in cumulative volume.
- Ownership category
- akta.pro rank
Hashflow industry classification
Industry- Product category
- Decentralized Exchange Infrastructure
- NAICS
- Commodity Contracts Intermediation (52316)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- DEX Aggregation & On-Chain Execution (routing, RFQ, intent-based trading) (FSAPAEAD)
- akta.pro secondary industries
- Liquidity Infrastructure (RFQ, order-book engines, matching, liquidity-as-a-service) (FSAPADAI), Cross-Chain Trading & Liquidity Routing (multi-chain swaps, bridge-integrated trading) (FSAPADAJ), Liquidity Management & Market-Making Protocols (FSADAMAH)
Keywords
Where Hashflow is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Hashflow business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- RFQ Transaction Fees: Revenue generated from transaction fees on RFQ volume executed through the platform. Market makers provide liquidity and pay fees or the protocol takes a cut on each quote executed.
- Staking Rewards Distribution: HFT token staking generates rewards for participants, with the protocol potentially capturing value through inflationary mechanics or fee distributions from the ecosystem.
Go-to-market motion3 records
Distribution channels3 records
Marketing channels5 records
Hashflow product offering
Product offeringCore offering
Hashflow operates an RFQ (Request-for-Quote) based liquidity layer for decentralized trading, connecting professional market makers with takers through an off-chain pricing engine. The platform eliminates MEV (Maximal Extractable Value) extraction by pricing trades off-chain and settling on-chain, providing guaranteed execution with no slippage. It supports cross-chain swaps across multiple networks and is delivered primarily through an API for integration by wallets, aggregators, and dApps, alongside a consumer-facing trading application.
Product overview
Hashflow is a DeFi trading platform operating as the liquidity layer for decentralized finance. Its core product is the RFQ (Request-for-Quote) Engine, which connects takers (traders) with a network of 25+ top-tier market makers across multiple chains via a single API integration, delivering guaranteed quoted prices with zero slippage and MEV protection. The platform's ecosystem includes the Hashflow App (a user-facing trading interface), HFT Staking (a token staking mechanism for earning rewards), and Hashflow Governance (an on-chain governance portal). Together these products provide end-to-end DeFi trading infrastructure: the RFQ Engine handles price discovery and execution, the App provides end-user access, HFT Staking incentivizes liquidity provision and protocol security, and Governance empowers token holders to steer the protocol's future.
Differentiator
Problem solved
Functional benefit
Products and services
- Hashflow RFQ Engine An off-chain Request-for-Quote trading engine that connects professional market makers with takers, enabling guaranteed-price, MEV-protected trade execution on-chain. Targeted at DeFi aggregators, wallets, dApps, and other protocols that need deep, slippage-free liquidity for their users.
- Hashflow App A consumer-facing trading interface that allows individual users to swap tokens across chains directly against quotes from professional market makers. Targets retail crypto traders seeking slippage-free execution and cross-chain swap capabilities.
- Cross-Chain Swap Service A service enabling token swaps across multiple blockchain networks in a single transaction, leveraging the RFQ engine for guaranteed pricing and MEV protection. Used by individual traders and integrated protocols needing cross-chain liquidity.
Quantifiable outcome
- $25 billion+ in RFQ volume processed
- +3 more outcomes
Companies that use Hashflow
Customer profileSegments2 records
Ideal customer profiles3 records
Hashflow technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Hashflow partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and major.
- ImmuneficoreLeading bug bounty platform for Web3 projects. Hashflow runs a bug bounty program through Immunefi to incentivize security researchers to identify vulnerabilities.
- QuantstampcoreSmart contract security audit firm that has audited Hashflow's codebase. Provides security validation for the protocol.
- OpenZeppelincoreLeading smart contract security library and audit services provider. Hashflow utilizes OpenZeppelin contracts for security best practices.
- 25+ Market MakerscoreNetwork of professional market makers providing liquidity across multiple chains including Ethereum, Solana, Arbitrum, Optimism, Polygon, and more. These market makers compete to provide best prices in the RFQ system.
- 30+ IntegrationsmajorProtocols, aggregators, and dApps that have integrated Hashflow's RFQ engine to access liquidity. Includes wallets and DeFi applications routing trading flow to the network.
Scale indicators6 records
Recent moves6 records
Expansion highlights5 records
Hashflow competitors and assessment
Company assessmentOthers
- Wintermute: One of the largest crypto market makers and a Hashflow backer/integrated liquidity provider. Not a direct competitor, but a critical supply-side participant whose quote quality directly shapes Hashflow's competitive positioning.
Direct peers
- ParaSwap: Multi-chain DEX aggregator offering private market maker routing similar to Hashflow's RFQ network. Targets the same wallets, dApps, and aggregator integrators across Ethereum and L2s.
- CowSwap (Gnosis): Gnosis's flagship MEV-protected DEX aggregator using batch auctions — a direct competitor in MEV-protected, intent-based DeFi execution serving the same integrator and wallet customer base as Hashflow.
- 1inch: Largest DEX aggregator by volume with a growing RFQ/limit-order product (1inch Fusion). Competes head-to-head with Hashflow for aggregator, wallet, and dApp liquidity integrations across chains.
- 0x: Core DEX infrastructure provider whose Matcha front-end and RFQ-style API serve a near-identical use case to Hashflow — aggregating professional market maker liquidity for DeFi integrators.
Broad incumbents
- Uniswap X: Uniswap's RFQ/Dutch-auction product layered on top of the largest DEX by volume. Brings Uniswap's brand, token, and liquidity to the same execution space Hashflow occupies, with vastly greater resources.
- Jupiter: Dominant Solana DEX aggregator that has expanded into RFQ-style execution. While Solana-native, it competes for the same market-maker relationships and integrator mindshare on one of Hashflow's largest chains.
- Kyber Network: Long-standing on-chain liquidity and DEX aggregator protocol now pivoting toward RFQ/limit-order infrastructure (KyberSwap). Competes across multiple chains with Hashflow for aggregator and taker flow.
Emerging players
- Odos: Multi-chain DEX aggregator using a proprietary routing algorithm to source liquidity. Competes with Hashflow for wallet and dApp integrations where execution quality is the primary differentiator.
Regional players
- Velodrome: Optimism-native DEX with MEV-protected execution and its own RFQ-style flow. While Optimism-specific rather than multi-chain, it competes for integrator relationships on a chain where Hashflow is active.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Hashflow social profiles
Digital presenceHashflow financial estimates
Financial estimateRevenue estimate
Valuation estimate
Hashflow leadership team
Management profileNumber of profiles
Profiles3 records
Hashflow funding detail
Funding detailFunding overview
Funding rounds4 records
Investors25 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Hashflow M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Hashflow
What does Hashflow do?
Hashflow operates an RFQ (Request-for-Quote) based liquidity layer for decentralized trading, connecting professional market makers with takers through an off-chain pricing engine. The platform eliminates MEV (Maximal Extractable Value) extraction by pricing trades off-chain and settling on-chain, providing guaranteed execution with no slippage. It supports cross-chain swaps across multiple networks and is delivered primarily through an API for integration by wallets, aggregators, and dApps, alongside a consumer-facing trading application.
Is Hashflow a public or private company?
Hashflow is a private company. It is classified as venture growth investor backed and is currently operating.
When was Hashflow founded?
Hashflow was founded in 2020. It employs 11 to 50 people.
Where is Hashflow based?
Hashflow is headquartered in San Francisco, United States, in the North America region.
How does Hashflow make money?
Two revenue lines are on record. RFQ Transaction Fees are the primary driver. The others are staking Rewards Distribution.
Who are Hashflow's main competitors?
Wintermute is listed as an others. Direct peers are ParaSwap, CowSwap (Gnosis), 1inch and 0x. Broad incumbents are Uniswap X, Jupiter and Kyber Network. Odos is listed as an emerging player. Velodrome is listed as a regional player.
Does Hashflow have an API?
Yes. Hashflow offers a public RFQ (Request-for-Quote) API enabling developers to integrate taker (trading) functionality into their applications. The API provides access to 25+ top-tier market makers across multiple chains, with features including guaranteed exact quoted prices (no slippage), MEV protection, and cross-chain liquidity. Developers can access a single integration to reach the full network of market makers. Developer documentation is at docs.hashflow.com/hashflow.
What industry is Hashflow in?
Hashflow's product category is Decentralized Exchange Infrastructure. Its primary akta.pro industry code is FSAPAEAD, DEX Aggregation & On-Chain Execution (routing, RFQ, intent-based trading), with a secondary code of FSAPADAI, Liquidity Infrastructure (RFQ, order-book engines, matching, liquidity-as-a-service). Its NAICS code is 52316 and its SIC code is 6200.