Glitter Finance

★ Business
OverviewGlitter Finance OÜ is an Estonian blockchain technology company founded in March 2021 and headquartered in Tallinn (Tartu mnt 67/1-13b, Tallinn, 10115, Estonia), Hayu County. Led by CEO David Dobrovitsky, Chief Strategy Officer Gelena Dobrovitsky, and COO Khalid Mamoun Ibrahim Hassan, the company focuses on addressing capital inefficiencies across blockchain ecosystems through cross-chain bridges and decentralized finance (DeFi) solutions. Glitter Finance provides Glitter cross-chain bridge (supports USDC, EUROC, and XGLI tokens), Glitter Widget (front-end integration tool), Glitter Explorer (transaction tracking), and cross-chain arbitrage and clearing bots, supporting interoperability with Algorand, Solana, Ethereum, and other networks. As of June 2025, Glitter's LinkedIn page has 1,095 followers, and Account X (@GlitterFinance) is active in the Web3 community. The company closed a $3 million seed round in November 2021 and was named one of the "37 Crypto Startups to Watch in 2022" in 2022 (). Glitter is a member of the Estonian Crypto Valley community and participates in Web3 interoperability initiatives, but did not disclose the identity of a specific industry association. Details about the registered capital, shareholding structure and advisory team were not publicly disclosed.

★ Regulatory
InformationGlitter Finance, as an Estonian registered limited liability company (OÜ), is subject to the EU Anti-Money Laundering Act (AMLD5) and the Estonian Money Laundering and Terrorist Financing Prevention Act. Its cross-chain bridges and token transactions may be regulated by the European Union's Markets in Cryptoassets Regulation (MiCA). However, the public information does not disclose specific regulatory numbers or official filing information. Glitter's cross-chain bridge adopts a non-custodial model, where users manage assets through a blockchain wallet, and the platform does not hold funds, reducing compliance risks. Glitter has partnered with Circle to develop a USDC-native cross-chain bridge to ensure that transactions meet Circle's compliance standards (). In 2024, the company passed the CertiK security audit, verifying the security of smart contracts and bridges, in compliance with the European Data Protection Regulation (GDPR). Regarding the specific KYC or AML process, public information is not disclosed.

★
Trading productGlitter Finance does not provide traditional financial trading products, but instead supports the interoperability of crypto assets and DeFi investment through cross-chain bridges. The core trading categories include:

1. XGLI tokens: native cross-chain tokens (based on Solana, Algorand, Ethereum) for bridging, governance and arbitrage, issued through IDO in March 2022, The price is $0.00606 with a daily trading volume of $22,161 (as of June 2025).

2. USDC/EUROC cross-chain swap: supports cross-chain transfers of native stablecoins without wrapping tokens, and will be launched in 2022, covering Solana, Algorand, and Ethereum ().

3. NFT Trading: Supporting NFT minting and trading, launched in 2023, planned to be integrated into cross-chain bridges.

4. Arbitrage & Liquidation: Optimize DeFi yields through cross-chain arbitrage and liquidation bots, developed in 2023.

Glitter's services are limited to crypto assets and do not involve traditional financial assets (such as forex, stocks, or CFDs). As of 2024, cross-chain trading volume or total value locked (TVL) is not publicly disclosed ().

★ The trading software
Glitter Finance provides a Web3-based cross-chain platform, accessed through web pages and APIs, and its core products include:

1. Glitter cross-chain bridge: Native cross-chain swaps for USDC, EUROC and XGLI, launched in 2022 and expanded to seven chains (Algorand, Solana, Ethereum, etc.) in 2023.

2. Glitter Widget: Front-end integration tool to simplify cross-chain bridge access, launched in 2022, mobile-ready ().

3. Glitter Explorer: Real-time tracking of cross-chain transactions and asset movements, support transaction ID query and CSV export, launched in 2022 ().

4. Glitter SDK: An open-source software development kit that supports the rapid integration of cross-chain functions of the protocol, released in 2022 ().

5. Arbitrage & Clearing Robots: Automated Cross-Chain Arbitrage & Clearing Tools, Pilot 2023 ().

The platform integrates with the blockchain network through REST APIs and Web3.js to support smart contract transactions. The user interface is available in English and has a beginner-friendly design. In 2024, Glitter will optimize Explorer and add the Ecosystem Transaction Filtering feature ().

★
Deposit and withdrawal methodsGlip uses a non-custodial model, and users manage cryptocurrencies and NFTs through Glip Wallet. The deposit and withdrawal process includes:

1. deposit: users convert fiat currency into tokens (such as ETH, USDT) through exchanges (such as Binance) and transfer them to Glip Wallet, which will be supported in 2022.

2. Withdrawals: Users can transfer tokens or NFTs to exchanges or external wallets to exchange for fiat currency, which will be launched in 2022.

3. Rewards: Earn tokens/NFTs through quests or BTX games, stored in Glip Wallet, launching in 2023.

4. Fees: Transactions only involve blockchain gas fees, Glip does not charge additional commissions, and live streaming revenue may be deducted from the platform's share (the specific rate is not disclosed).

Users can manage their balance through the app dashboard and need to connect to a MetaMask or Keplr wallet. The exact limit was not disclosed.

★ Customer SupportGlip
provides support for players, creators, and developers, including:

1. Online support: Assist with tasks via X, Telegram, Discord, and in-app chat, Wallet and live streaming issues.

2. Help Center: Recording, live streaming, tasks, and NFT tutorials are available, and will be available in 2022.

3. Community Engagement: Share Web3 gaming and P2E guides via LinkedIn (7,963 followers, as of June 2025) and Medium blogs, and release BTX tutorials in 2024.

Glip hosts events such as the BTX playtest in June 2023 (10,000 users) and the hackathon in October 2024. Customer feedback indicates that the recording function is stable, but the audio delay and BTX control need to be improved. The response time was not disclosed.

★ Core Business &
ServicesGlip's core business is to provide Web3 and P2E gamers with recording, live streaming, and reward tools, and build a gamification ecosystem. Key services include:

1. Glip mobile app: supports 60 FPS recording, live streaming, task rewards, and NFT trading, launched in 2021, with a new live overlay feature added in 2024.

2. Glip Wallet: A digital wallet that manages tokens and NFTs on Ethereum, BSC, Polygon, and other networks, launched in 2022, supporting staking and transfers.

3. BTX Battle Xtreme:P 2E anime shooter game, launched in June 2023, 10,000 users, an average of 20 minutes of game time per day, supporting NFT minting and task rewards.

4. Quest & Reward System: Players earn tokens and NFTs through in-game quests and streams, launched in 2022 and expanded to BTX in 2023.

5. NFT platform: supports the creation and trading of NFTs in BTX games, which will be launched in 2023 and plans to expand to other games.

Clients include gamers (teens and young adults), content creators, and Web3 developers in 100 countries. Glip launched a recording tool in 2021, a wallet in 2022, and BTX in 2023. As of 2024, 1 million monthly active users.

★ Technical
InfrastructureGlip's technical infrastructure is based on blockchain, cloud computing, and gaming technology to build a Web3 gaming ecosystem. Key features include:

1. blockchain integration: support for networks such as Ethereum, BSC, Polygon, and other networks, management of tokens and NFTs through CosmWasm or Solidity smart contracts, deployed in 2022.

2. Glip Wallet: Based on Web3.js, it supports MPC and AES-256 encryption, will be launched in 2022, and NFT storage will be added in 2024.

3. Recording & Live Streaming: React Native (mobile) and FFmpeg (recording), 60 FPS and no watermark video, optimized for 2021.

4. API interface: Connect blockchain, YouTube, Twitch, and Amplitude (analytics) via REST API, launched in 2022.

5. Cloud infrastructure: 99.9% availability through AWS, support for high-concurrency recording and live streaming, and will be launched in 2021.

Glip optimizes NFT storage with IPFS, with plans to support Solana in 2024. The exact server location was not disclosed.

★
Glip is required to comply with the Financial Crimes Enforcement Network (FinCEN) cryptoasset regulations and the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) requirements, but does not disclose a specific regulatory number. Risk control measures include:

1. transaction monitoring: detect abnormal transactions through on-chain analysis to prevent fraud, implemented in 2022.

2. Data security: AES-256 encryption, MPC technology, and social login (OAuth) to protect user data, optimized in 2024.

3. User privacy: GDPR and U.S. data protection laws that allow users to revoke social permissions, updated in 2024.

Glip's non-custodial wallet puts control of assets in the hands of users, reducing compliance risk. In 2024, the platform analyzes user behavior and optimizes the experience through Amplitude and Mixpanel. Regarding third-party security audits, public information is not disclosed.

★ Market Positioning & Competitive
AdvantageGlip is positioned in the Web3 gaming and P2E ecosystem, with the goal of engaging players and creators through recording, live streaming, and rewards. Competitive advantages include:

1. gamification rewards: players earn tokens and NFTs through quests and P2E games, enabled in 2022.

2. High-performance recording: 60 FPS, no watermark recording, launched in 2021, with over 10 million downloads.

3. Multi-chain support: Glip Wallet is compatible with Ethereum, BSC, and Polygon, and will be launched in 2022.

4. Community size: 1 million monthly active users, covering 100 countries, 2024 data

Compared to competitors such as GameFi, WAX, Glip's recording tool and BTX game's anime style offer a differentiating edge and appeal to younger players.

★ Customer Support & EnablementGlip
empowers players and creators through multiple channels, including:

1. Technical Support: Recording, streaming, wallet, and task guidance are available, via Discord and in-app chat.

2. Educational content: Share P2E, NFT, and live tutorials through Medium and the official website, and release a BTX guide in 2024.

3. Community events: BTX beta in June 2023 (10,000 users), hackathon in October 2024.

Glip has partnered with creators to optimize live streaming, adding overlays and chats in 2024. Customer feedback indicates that the recording is stable, but the audio delay and BTX control issues need to be addressed. By 2024, the number of users will reach 1 million.

★ Social Responsibility & ESG
Glip empowers players financially through P2E rewards and NFT trading, promotes Web3 adoption, and embodies social inclusion. In 2024, the company will support a game education project in primary and secondary schools in India to promote financial literacy. Glip uses Ethereum (PoS mechanism) and Polygon (low-energy chain) to reduce its carbon footprint and indirectly contribute to environmental sustainability. The platform's task reward mechanism encourages community participation and improves governance transparency. Public information on specific carbon footprints or ESG initiatives is not disclosed.

★ Strategic Partnership Ecosystem
Glip has partnered with a number of Web3 and gaming organizations, including:

1. SupraOracles: June 2023 collaboration to support on-chain data for BTX games.

2. Cricinshots: June 2023 to jointly promote Web3 games.

3. Yumon: Collaboration in June 2023 to enhance NFT functionality.

4. CashEsports: Support for esports missions in June 2023.

5. MagicCraft: Co-development of P2E content in June 2023.

Glip expands its reach with India Blockchain Week (IBW'23) and Korea Blockchain Week (KBW'23) events, hosting the Web3 Games Breakfast in September 2023. Terms of cooperation were not disclosed.

★
Financial healthGlip's financial information is not fully disclosed. In 2022, the company closed a $2.5 million seed round from investors including Hashed, Arrington Capital, Forward Analytics and SBX Capital. As of 2024, the total amount raised will reach $4.345 million. The revenue mainly comes from task reward sharing, NFT transaction fees, and SaaS subscriptions (developer tools). The Glip app has more than 10 million downloads and 1 million monthly active users, demonstrating business stability. 10,000 users of BTX games (June 2023) contribute additional revenue. There is not enough publicly available information on specific revenues or profitability.

★ Development Milestones

1. July 2020: The company was founded and Glip mobile app development was launched.

2. 2021: Launched the Glip app with 60 FPS recording and live streaming, with 5 million downloads.

3. 2022: Completed a $2.5 million seed round and launched Glip Wallet.

4. June 2023: Launch of BTX Battle Xtreme, 10,000 users, partnership with SupraOracles, etc.

5. September 2023: Sponsored India Blockchain Week (IBW'23) with 1 million monthly active users.

6. 2024: The app will be updated to version 4.3, adding live overlays, and Solana will be supported.

★ Future Roadmap
Glip plans to expand its P2E game portfolio, launch new anime-style games in 2025, and optimize Glip Wallet's DeFi and NFT features. The company expects to increase its user base through partnerships with Web3 projects (such as the Solana ecosystem) and traditional game developers. Glip may launch DAO governance to enhance community engagement and expand token use cases to education and charity. The app will integrate AI recommendation tasks to optimize the player experience. Specific plans were not disclosed. Glip's long-term goal is to become a global leader in Web3 gaming and P2E.