Announcing our $2M seed round to advance MEV and OFAs infrastructure

We started building our first searcher in 2020, before the DeFi summer.

A small team of a few people worked days and nights testing endless hypotheses, polishing the code, and researching new opportunities brought to us by the growing adoption of DeFi protocols.

Back then, there was barely any information on building on-chain trading algorithms, running simulations, what MEV is, and how to compete with other searchers. Many decisions were made based on assumptions while finding alpha was tough — you had to create it yourself from scratch.

Nevertheless, it was a fun time — eventually, we developed and deployed several strategies, which surprised us with the outcomes throughout 2020–2022.

We’ve been watching the development of the DeFi market, the MEV evolution on Ethereum, its birth on other chains, and growing competition among searchers.

Current design of MEV supply chain and high competition led to most trading profits landing in the pockets of miners/validators while transaction originators, who created that MEV, get nothing.

Today, we announce the completion of a $2 million seed funding round led by Jump Crypto, with participation from Delta Fund, Everstake Capital, and angel investors.

Our goal is to help transaction originators get ownership of the order flow they create and have the option to monetize it via a system of on-chain order flow auctions (OFAs).

More details on our vision can be found in our recent blog.

The funds will be used to advance the development of Kolibrio’s flagship product — BEV Relay, an on-chain marketplace connecting node providers, wallets, and dapps with algorithmic trading bots known as searchers.

The funding round marks a significant milestone for Kolibrio and demonstrates the growing demand for solutions to the MEV problem.

With the support of Jump Crypto, Delta Blockchain Fund, and Everstake Capital, we are well-positioned to bring our innovative technology to a growing market and help shape the future of DeFi.

Please visit the company website, and follow us on Twitter or Linkedin for more information.