Enables ionotropic glutamate receptor binding activity and protease binding activity. Predicted to be involved in several processes, including positive regulation of cell-cell adhesion; positive regulation of cellular component organization; and protein localization to membrane. Predicted to act upstream of or within axonogenesis and regulation of Rho protein signal transduction. Located in caveola. Part of flotillin complex. Is active in GABA-ergic synapse; glutamatergic synapse; and presynaptic active zone. Orthologous to human FLOT1 (flotillin 1). [provided by Alliance of Genome Resources, Apr 2022]