What Fluidity does

Fluidity Operations LLC is a Brooklyn, New York-based decentralized finance company founded in 2017 to bridge traditional finance and the growing ecosystem of financial applications built on open, decentralized infrastructure. The company built three core offerings: Tokenized Asset Portfolios (TAP), an institutional-facing product providing asset managers and market participants access to low-cost, flexible credit facilities and yield enhancement strategies through tokenized collateral; AirSwap, a decentralized peer-to-peer trading network on Ethereum that enables traders to buy and sell Ethereum tokens instantly or over-the-counter without trading fees; and Fluidity Summit, an annual conference convening key participants in the distributed ledger technology ecosystem. Fluidity operated as a privately held company with 11–50 employees under the legal entity Fluidity Operations LLC, headquartered in Brooklyn.

The underlying technology is Ethereum blockchain infrastructure. TAP employs a novel architecture for introducing high-quality collateral into decentralized credit markets, while AirSwap is structured as a peer-to-peer DEX emphasizing interoperability and fee-free trading. The go-to-market motion is primarily product-led growth: TAP and AirSwap are distributed through dedicated self-serve platforms (tap.fluidity.io, airswap.io) alongside the corporate site (fluidity.io), targeting a horizontal mix of retail token traders, institutional asset managers, and broader DLT market participants globally. Monetization is described as subscription/recurring for TAP credit and yield services and transaction-fee for AirSwap trading, though AirSwap is explicitly stated to operate without trading fees per source, suggesting the model relies on indirect network value capture rather than direct fees.

Fluidity was acquired by ConsenSys, its joint venture partner, on June 22, 2020, with the products and team integrated into the ConsenSys ecosystem. Pre-acquisition, the company received high-profile earned media coverage (Harvard Business Review case study in 2018, Bloomberg, Financial Times, MIT Technology Review, CoinDesk, CNBC, Stanford Journal of Blockchain, Messari), but disclosed no meaningful outside funding and no revenue, indicating a small operating footprint relative to the ambition of its product roadmap.

Name

Fluidity

Legal name

Fluidity Operations LLC

Website

https://fluidity.io

Company type

Private

Founded year

2017

Operating status

Acquired

Headcount range

11–50 employees

Short description

Brooklyn-based decentralized finance company founded in 2017 that built TAP for institutional credit and yield strategies, AirSwap for fee-free peer-to-peer Ethereum token trading, and the Fluidity Summit industry event; acquired by ConsenSys in June 2020.

Ownership category

akta.pro rank

Product category

Decentralized Finance Infrastructure

NAICS

Securities and Commodity Exchanges (52321), Other Financial Vehicles (52599)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)

akta.pro primary industry

Institutional DeFi & On-Chain Liquidity Infrastructure (Permissioned DeFi, Lending) (FSAGAMAG)

akta.pro secondary industries

Liquidity Provision & Market Making Protocols (AMMs, concentrated liquidity, LP tooling) (FSAPAEAF), Money Markets & Collateralized Debt Positions (CDPs) (FSADAMAM), Yield Aggregators & Strategy Vaults (FSADAMAF)

Keywords

• Decentralized finance
• Peer-to-peer trading
• Tokenized assets
• Ethereum blockchain
• Credit facilities

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Tokenized Asset Portfolios (TAP): Revenue generated from credit facilities and yield enhancement strategies provided to asset managers and market participants in the decentralized finance ecosystem.
2. AirSwap Trading Network: Peer-to-peer trading network operating without trading fees, monetizing through network effects and transaction volume in the Ethereum token ecosystem.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Fluidity develops decentralized finance (DeFi) infrastructure on Ethereum that bridges traditional finance and open, decentralized systems. Its core offerings are Tokenized Asset Portfolios (TAP), which deliver low-cost credit facilities and yield enhancement strategies to asset managers via high-quality collateral, and AirSwap, a decentralized peer-to-peer trading network that enables instant or over-the-counter Ethereum token trading without trading fees.

Product overview

Fluidity is a company focused on connecting traditional finance and decentralized financial applications built on open, decentralized infrastructure. The company's portfolio consists of three main offerings: Tokenized Asset Portfolios (TAP), which provides credit facilities and yield enhancement for asset managers; AirSwap, a peer-to-peer Ethereum token trading network; and Fluidity Summit, an annual industry conference. Fluidity was acquired by ConsenSys in June 2020.

Differentiator

Problem solved

Functional benefit

Brands

• AirSwap: A decentralized, peer-to-peer trading network powered by Ethereum where traders can buy and sell tokens instantly or over-the-counter without trading fees.
• TAP
• Fluidity Summit

Products and services

• Tokenized Asset Portfolios (TAP)

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators2 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Uniswap: Leading Ethereum-based decentralized exchange. Directly competes with AirSwap for Ethereum token trading, but uses an AMM model versus AirSwap's P2P design, and has substantially deeper liquidity and volume.
• 0x Protocol: DEX infrastructure protocol enabling P2P and OTC token trading on Ethereum. Closely comparable to AirSwap's architecture and target use case of peer-to-peer/OTC Ethereum trading with relayer-based execution.
• Aave: Decentralized non-custodial lending and credit market protocol on Ethereum. Directly competes with TAP in providing institutional and crypto-native credit facilities via overcollateralized lending pools.
• Compound: Ethereum-based money market protocol for algorithmic, permissionless lending and borrowing. Closely comparable to TAP's credit-facility and yield-enhancement use cases, though Compound is permissionless public DeFi versus TAP's institutional positioning.
• MakerDAO: Decentralized credit protocol issuing DAI against crypto collateral via Collateralized Debt Positions (CDPs). Comparable to TAP's collateralized lending and on-chain credit origination model.
• Curve Finance: DEX specialized in stablecoin and like-asset swaps using concentrated-liquidity AMMs. Competes for Ethereum DEX trading flow alongside AirSwap, with deep liquidity and significant institutional usage.
• Balancer: Multi-asset AMM-based DEX on Ethereum offering customizable liquidity pools and token swaps. Overlaps with AirSwap in the Ethereum DEX space, with a different (AMM) execution model.
• Bancor: On-chain liquidity network for tokens with automated market making and single-sided liquidity provision. Comparable to AirSwap as an Ethereum-based DEX, with overlapping trading and token-liquidity use cases.

Emerging players

• Yearn Finance: DeFi yield aggregator automating strategies across lending and liquidity protocols. Comparable to TAP's yield-enhancement value proposition, though distributed to retail DeFi users rather than institutional asset managers.
• Maple Finance: Institutional-grade DeFi credit protocol offering undercollateralized lending pools to vetted borrowers. Comparable to TAP's positioning as a permissioned, institutional DeFi credit venue serving professional asset managers.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks2 records

Key highlights6 records

Customer concentration

• Xx.com/fluidityio
• Facebookfacebook.com/fluidityio
• LinkedInlinkedin.com/company/fluidityio

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fluidity