TxnLab

What TxnLab does

TxnLab, Inc. is a privately held Delaware corporation founded in 2021 that builds applications, developer tools, and SDKs for the Algorand blockchain ecosystem. Its product portfolio centers on three core applications: NFDomains, a decentralized naming protocol for registering, trading, and managing .algo domain names that maps human-readable identifiers to Algorand wallet addresses and supports W3C DID and DNS resolution via nfd-did and nfd-coredns; Haystack, a web and mobile DeFi application for token swapping, earning, yield via HAY utility-token staking, and PvP prediction markets using a parimutuel pooling model differentiated from order-book alternatives like Polymarket and Kalshi; and Réti Pooling, a protocol for creating and managing Algorand staking pools that participate in consensus. Supporting these apps is a suite of open-source developer infrastructure, including the Haystack Router (a liquidity aggregator and smart-order router), the Haystack Router SDK and nfd-sdk, the use-wallet and use-wallet-ui libraries for Algorand wallet integration, and the "skills" package of AI-agent-callable capabilities, plus utilities such as batch-asset-send for airdrops.

The company's monetization is primarily transactional: it captures fees from NFDomains registration and secondary-market trading and from Haystack trading, staking, and prediction-market activity, with HAY staking introduced in November 2025 adding a yield-based revenue lever. TxnLab does not publish pricing tiers and operates a self-serve, product-led and community-led go-to-market, distributing through app.nf.domains, hay.app, reti.nodely.io, open-source GitHub repositories, Medium publications, Discord, X, LinkedIn, and the Coinbase Quest program (since August 2024). Its customer base is horizontal and long-tail, comprising individual Algorand users registering or trading NFDs, Algorand DeFi users consuming Haystack and Réti, and developers integrating TxnLab SDKs into third-party dApps.

The company is operated by three co-founders — Patrick Bennett (CEO & Lead Back End/Contract Engineer), John Mizzoni (CFO & Junior Front End Engineer), and Doug Richar (Lead Front End Engineer & Designer) — with headcount disclosed in the 1–10 range. TxnLab raised a $1.25 million seed round in January 2022 led by Borderless Capital and GoldenTree Asset Management and received an Algorand Foundation grant the same month; no subsequent priced funding has been disclosed. Web3Auth is integrated for decentralized identity login, and TxnLab serves a global market from the United States with no disclosed enterprise customers or revenue figures.

Name

TxnLab

Legal name

TxnLab Inc.

Website

https://txnlab.dev

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

TxnLab builds applications, tools, and SDKs for the Algorand blockchain ecosystem, including NFDomains (a .algo naming protocol), Haystack (a mobile DeFi app with HAY token), and Réti Pooling (a staking-pool protocol), serving Algorand end users, DeFi participants, and developers.

Ownership category

akta.pro rank

Product category

Blockchain Infrastructure Software

NAICS

Software Publishers (5132), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Services-Prepackaged Software (7372)

akta.pro industry

PRIMARYFSAPAAAH

Smart Contract Developer Platforms & Tooling (SDKs, APIs, frameworks, indexing)

Financial & Insurance/Blockchain & Web3/Blockchain Infrastructure & Protocols (L1/L2/L3s, consensus, scaling)

SECONDARYFSADABAC

DEX Aggregators & Smart Order Routing

Financial & Insurance/Crypto & Digital Assets/Decentralized Exchanges (DEX) & On-Chain Trading

SECONDARYFSADAHAJ

Staking Infrastructure & Validator Enablement (Middleware, Slashing Protection, MEV Relays)

Financial & Insurance/Crypto & Digital Assets/Crypto Asset Management, Indexing & Staking-as-a-Service

Keywords

• Algorand blockchain tools
• Decentralized naming service
• DeFi staking pools
• Wallet integration SDKs
• Token swapping protocol

GTM type

B2C

Offering type

Software

Cost components

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

Revenue model

1. NFDomains Trading: Protocol for registering, trading, and managing .algo domain names. Revenue likely generated through transaction fees on domain trades and registration fees.
2. Haystack DeFi Services: Token swapping, earning, and dropping services. Revenue generated through trading fees and token mechanics associated with HAY utility token.
3. Web3 Authentication Services: Integration with Web3Auth for decentralized identity infrastructure. While not directly monetized, enables user acquisition and service usage.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

TxnLab builds applications, protocols, and developer tooling for the Algorand blockchain ecosystem. Its core offerings are NFDomains (a decentralized naming protocol for registering, trading, and managing .algo human-readable domains), Haystack (a web and mobile DeFi app for swapping, earning, dropping tokens and PvP prediction markets via parimutuel pooling), and Réti Pooling (a protocol for creating and managing Algorand consensus staking pools). The HAY utility token powers the Haystack DeFi ecosystem.

Product overview

TxnLab is a blockchain infrastructure company that builds applications and tools for the Algorand ecosystem. The product portfolio consists of three core consumer-facing apps—NFDomains (a naming protocol for .algo domains), Haystack (a mobile-native DeFi app for token swapping, earning, and prediction markets), and Réti Pooling (a staking pool protocol)—supported by a suite of developer tools including SDKs (Haystack Router SDK, nfd-sdk, use-wallet), infrastructure plugins (nfd-coredns, nfd-did), AI agent skills, and utility tools (use-wallet-ui, batch-asset-send). The HAY utility token powers the Haystack DeFi ecosystem.

Differentiator

Problem solved

Functional benefit

Brands

• NFDomains: A protocol for registering, trading, and managing .algo domains on the Algorand blockchain.
• Haystack
• Réti Pooling

Products and services

• NFDomains A decentralized naming protocol for registering, trading, and managing .algo domain names on the Algorand blockchain. Allows individual users and wallet holders to associate human-readable names with their Algorand wallet addresses for easier transactions and decentralized identity.
• Haystack A web and mobile decentralized finance (DeFi) application enabling individual users to swap, earn, and drop tokens on Algorand. Includes PvP prediction markets using parimutuel pooling, HAY staking for yield, and token swapping capabilities.
• Réti Pooling A protocol for creating and managing staking pools to participate in Algorand consensus. Enables individual ALGO holders to pool their stake for consensus rewards without running their own participation node.
• Haystack Router SDK TypeScript/JavaScript SDK for smart order routing and DEX aggregation. Enables developers to integrate liquidity aggregation and smart order routing into their applications on Algorand.
• nfd-sdk JavaScript SDK for minting and managing NFDs (Non-Fungible Domains / .algo names). Enables developers to programmatically create, trade, and manage .algo blockchain domain names.
• use-wallet

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability1 record

Feature8 records

Partnerships

One partnership is on record.

• CoinbasecoreGTM or Marketing Partner · 23 August 2024NFDomains included in Coinbase Quest program for Algorand. The program teaches Coinbase users about Algorand while rewarding them for completing on-chain activities.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Regional players

• AlgoExplorer: AlgoExplorer is the primary Algorand blockchain explorer and indexer. Adjacent to TxnLab's ecosystem role as foundational Algorand infrastructure, with some overlap in developer-facing data and tooling services.
• Pera Wallet: Pera Wallet is the most-used Algorand mobile wallet. Comparable ecosystem-adjacent product to TxnLab's use-wallet (Algorand wallet integration library), with overlapping user base on Algorand though Pera is a consumer wallet product rather than a developer SDK.

Direct peers

• 1inch: 1inch is a leading multi-chain DEX aggregator with smart order routing. Directly comparable to Haystack Router in product mechanics (liquidity aggregation, smart order routing), though 1inch operates across many chains while Haystack Router is Algorand-focused.
• Ethereum Name Service (ENS): ENS is the dominant blockchain naming service mapping human-readable names to wallets on Ethereum. Directly comparable to NFDomains in product mechanics (registering, trading, resolving names) and use case (wallet identity), though on a different L1.
• AlgoFi: AlgoFi is a leading Algorand-native DeFi protocol offering lending, borrowing, swapping, and liquid staking. Comparable to TxnLab's Haystack as Algorand DeFi infrastructure competing for the same DeFi user base and liquidity.
• Unstoppable Domains: Unstoppable Domains provides blockchain-based naming services across multiple chains. Comparable to NFDomains as a domain registration and management product; Unstoppable's multi-chain footprint is a strategic contrast to TxnLab's Algorand-only focus.
• Folks Finance: Folks Finance is a major Algorand DeFi platform offering lending, borrowing, perpetual trading, and liquid staking. Directly competes with Haystack (swapping/DeFi) and Réti Pooling (staking) for Algorand DeFi users and capital.
• Rand Labs: Rand Labs is a core Algorand development company building infrastructure, developer tooling, and applications. Comparable to TxnLab as an Algorand-specialist builder of developer tools and ecosystem infrastructure.
• Jupiter Aggregator: Jupiter is the dominant DEX aggregator on Solana with routing and swap infrastructure. Comparable to Haystack Router as a single-L1 DEX aggregator and to Haystack as a DeFi super-app with staking, swapping, and prediction features.

Emerging players

• Reach.sh: Reach.sh is a JavaScript-based smart contract development platform for Algorand. Comparable to TxnLab's nfd-sdk and use-wallet as Algorand developer tooling, though Reach focuses on smart contract authoring while TxnLab focuses on naming, wallets, and DeFi infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/txnlab
• LinkedInlinkedin.com/company/txnlab-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

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 TxnLab