# Fluid (FLUID): D-Score 36/100 — Centralized Leaning

**BlockIndex D-Score: 36/100 (Centralized Leaning).** Fluid (FLUID) is a Layer 1 cryptocurrency using PoS consensus. Fluid: Rebranded Instadapp ERC-20 DeFi protocol offering lending, vaults, and DEX functionality with multi-chain TVL.

_Source: https://blockindex.ai/coin/fluid · Data by BlockIndex.AI · Updated 2026-06-19_

## D-Score breakdown (0-100, higher means more decentralized)
| Component | Score |
| --- | --- |
| Overall D-Score | 36 |
| Node distribution | 0 |
| Initial distribution | 0 |
| Governance | 20 |
| Age and history | 11 |
| Autonomy | 5 |

## Key facts
- Layer: Layer 1
- Consensus: PoS (N/A)
- Launch: Other (2021)
- Founder: N/A
- VC funded: No
- Max supply: N/A
- Circulating: 78,696,997

## Market data (as of 2026-06-19)
- Price: $0.99
- Market cap: $77.97M
- 24h volume: $2.3M
- 24h change: -9.20% · 7d change: -9.65%

## About
Fluid (FLUID), formerly known as Instadapp (INST), is a composable DeFi protocol and multi-product platform that aggregates lending, vaults and DEX functionality into a modular suite of products. The protocol surfaces multiple product modules including Fluid Lending, Fluid DEX, Fluid Lite (Lite Vaults) and Fluid DEX Lite, enabling users and developers to access aggregated lending markets, automated vault strategies, and swap execution across integrated liquidity sources. The rebrand from Instadapp to Fluid in December 2024 marks an evolution of the project identity and consolidates its multi-chain DeFi positioning as reflected in the dataset.

Technically, Fluid is an Ethereum-native ERC-20 token that powers protocol and governance flows while the protocol itself operates as an application layer on Ethereum and across multiple chains via integrations. Fluid’s architecture emphasizes composability: vault and lending modules interact with on-chain liquidity and borrowing markets while DEX modules capture swap fees. The token contract (0x6f40d4a6237c257fff2db00fa0510deeecd303eb) and protocol adapters are referenced in DefiLlama and CoinMarketCap snapshots included in the provided files. The summary materials highlight multi-chain activity and TVL aggregation across Ethereum, Plasma, Arbitrum, Base and Polygon, rather than a bespoke consensus layer controlled by the project.

From an economic and product standpoint, Fluid captures revenue from swap fees, lending interest and vault performance fees. DefiLlama snapshots included in the dataset show substantial Total Value Locked (TVL ≈ $1.881b) distributed across several chains, and protocol-level snapshots report treasury balances and annualized fees. Tokenomics snapshots list a total supply of 100,000,000 FLUID with a circulating supply around 77,249,828 FLUID (≈77.25% of max supply) in the supplied market snapshots. The dataset does not provide a full allocation table or an on-chain vesting schedule in the supplied files, though DefiLlama references treasury holdings and circulating snapshots that inform the public supply metrics.

Governance for Fluid is referenced via Instadapp governance resources (gov.instadapp.io) and the rebrand discussion appears in governance channels captured in the dataset. The provided materials indicate a governance forum and treasury activity, suggesting governance processes and treasury stewardship are part of the protocol’s management posture; however, the dataset lacks a complete specification of voting mechanics, quorum rules, or an explicit DAO constitution. Organizational details such as founders, executive team members, HQ and formal legal entity information are not present in the provided files. The summary is therefore constrained to the explicit content of the supplied dataset and excludes extrapolations beyond the available sources.

## Links
- Website: https://instadapp.io/
- Whitepaper: N/A
- GitHub: N/A

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About the D-Score: BlockIndex.AI rates decentralization from 0 to 100 across node distribution, initial distribution, governance, age and history, and autonomy. Methodology: https://blockindex.ai/dscore