If by "suitable for commercial projects" you mean if you can legally use it, then it's "yes".
Flyway Community Edition is designated as 'freeware' (as per Redgate's software editions page). Freeware is further defined in the Subscription EULA License which can be found here.
Answers
Flyway Community Edition is designated as 'freeware' (as per Redgate's software editions page). Freeware is further defined in the Subscription EULA License which can be found here.
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Redgate Software