Turtle is a decentralized finance (DeFi) protocol headquartered in Zug, Switzerland, that functions as an on-chain liquidity distribution network. The platform is designed to structure and coordinate the movement of capital across the Web3 ecosystem by connecting liquidity providers with protocols in need of liquidity. [1] [2]
Turtle positions itself as a foundational coordination layer for on-chain capital, aiming to address the issues of liquidity fragmentation and inefficiency within DeFi. The protocol's core mission is to make liquidity programmable, transparent, and efficient. By doing so, it seeks to create a more sustainable environment where protocols can attract capital and liquidity providers (LPs) can deploy their assets with greater confidence and clarity. The platform serves three primary user groups: LPs seeking enhanced and risk-adjusted yield opportunities, DeFi users who require transparency in on-chain activities, and institutions looking for structured access to DeFi returns. [1] [2]
The network functions by aggregating high-quality yield opportunities from various protocols and blockchains into a single hub. Users can browse, compare, and invest in different strategies, such as liquidity pools and vaults, based on metrics like Total Value Locked (TVL) and Annual Percentage Rate (APR). The platform's infrastructure is designed to consolidate capital from individual and institutional LPs and then efficiently distribute it to integrated partner protocols. This model is intended to align incentives between capital suppliers and capital seekers. As of October 2025, the platform reported having connected over 358,000 wallets, coordinated the routing of more than $5.5 billion in provisioned liquidity to its partners, and generated over $6 million in revenue. [1] [3]
In a statement regarding the project's goals, Turtle CEO Essi Lagevardi commented:
”Liquidity is the infrastructure everything else runs on. It’s long been opaque, fragmented, and expensive. We’re making liquidity programmable - transparent, efficient, and coordinated - so protocols can attract capital sustainably, and capital providers can deploy it with confidence.” [1]
The official X (formerly Twitter) account for Turtle was established in March 2024. The platform launched approximately one month later, around April 2024. In the 18 months following its launch, the project focused on building its user base and integrating with various DeFi protocols and blockchain ecosystems. [2] [1]
A significant milestone occurred on October 20, 2025, when Turtle announced it had closed a strategic funding round of $5.5 million, bringing its total capital raised to $11.7 million. This funding was earmarked for the expansion of its liquidity network and product infrastructure.
Coinciding with its growth, the project prepared for the launch of its native token, $TURTLE. On October 16, 2025, an eligibility checker for the token's airdrop was released. The airdrop itself was scheduled for October 22, 2025, as one of the initial projects featured on the Binance Alpha platform. [1] [2]
Turtle's platform is built around a three-pillar product strategy designed to create a self-reinforcing loop for liquidity curation, consolidation, and distribution. [1]
This pillar focuses on sourcing, structuring, and presenting high-quality yield opportunities from across the DeFi landscape. The goal is to provide users with a vetted selection of options, reducing the complexity and risk associated with navigating the space independently. Products within this category include:
The second pillar is centered on aggregating capital from LPs for efficient deployment into the curated opportunities. The primary product in this category is Turtle Vaults. These vaults allow users to deposit assets to earn passive, risk-adjusted rewards without needing to actively manage their positions or allocations across different protocols. The vaults serve as the foundational infrastructure for larger ecosystem campaigns, enabling better capital efficiency and more sophisticated risk management for both users and partner protocols. [1]
The third pillar aims to extend the reach of Turtle's curated opportunities beyond its native application. This is achieved through tools that allow third-party platforms to integrate Turtle's offerings, effectively broadcasting them to a wider audience. Key products include:
In addition to these core pillars, the Turtle application includes features such as an integrated token Swap function, a Treasury section for managing protocol funds, and a Deals section for exclusive opportunities. [3]
Turtle has a native utility and governance token with the ticker $TURTLE. The token is designed to play a central role in the protocol's ecosystem. [2]
To distribute the token to its community and early users, Turtle initiated an airdrop campaign in October 2025. An online eligibility checker was launched on October 16, 2025, allowing users to verify their qualification for the airdrop. The project was also announced as one of the first to be featured on Binance Alpha, a platform for new projects. The $TURTLE airdrop was scheduled to be claimable on October 22, 2025, with eligible users able to use Binance Alpha Points to claim their tokens. [2]
As of October 2025, Turtle has raised a total of $11.7 million in funding across multiple rounds. The capital has been raised from a wide range of institutional investors, venture capital firms, and angel investors from prominent Web3 projects. [1] [2]
The round saw participation from a diverse group of investors, including:
This list includes both new and follow-on investors, with Bitscale VC, Theia, and Trident Digital noted as having participated in previous rounds. [1] [2]
Turtle operates as an aggregator, integrating with numerous DeFi protocols and blockchains to source its yield opportunities. The platform supports multiple chains, including Ethereum, Avalanche, and Linea. [3]
Its partners and the protocols from which it sources vaults and liquidity pools include:
The platform supports a wide range of crypto assets, including stablecoins like USDC and USDT, major assets such as WETH and WBTC, and liquid staking or restaking tokens like weETH. [3] [2]
The leadership team at Turtle includes: