1inch unleashes a horse and intends to conquer DeFi

Partnership in ruins – Platform launched in May 2019 1 inch quickly became the benchmark for DEX aggregators. Thus, it is connected to many decentralized exchange platforms so that you can always get the best rates. Now 1inch is expanding partnerships to provide better cross-chain integration with DeFi.

1 inch x bridge

Debridge this protocol is called cross chain allows you to transfer funds between different blockchains. Among the supported chains we find Ethereum, Arbitrum, Polygon, BNB Smart Chain and Heco.

On Wednesday, March 16, deBridge announced partnership with 1inch protocol, which allows a significant change in the protocol. Thus, deBridge users will now be able to perform cross-chain swaps in a single transaction :

“The deBridge infrastructure is used to transfer assets and data for a 1-inch router that executes transaction data and exchanges liquidity for the target asset.»

This service significantly reduces transaction costs. Indeed, instead of doing a swap and then sending funds (or vice versa) through a bridge, deBridge allows you to combine these two actions in one transaction.

Bridge 1inch partnership announcement image.
Bridge 1inch partnership announcement image.

>> Start your DeFi adventure by buying your first cryptocurrencies on FTX, one of the reference platforms! (affiliate link) <

1 inch x CoolWallet

The day after the deBridge partnership was announced, 1inch announced a second partnership, this time with a hardware wallet. cool wallet. In practice, this partnership is part of the process of integrating CoolWallet into the DeFi ecosystem.

Thus, CoolWalet hardware wallet users will now be able to access to decentralized exchanges through the aggregator 1inch.

To do this, they will be able to access functionality through the CoolBitX app, allowing them to manage the funds present in the hardware wallet:

“Users of the CoolBitX app will be able to securely exchange one cryptocurrency for another at the best prices on the market right in their app.»

Obviously, the whole process is carried out in a decentralized manner and without permission.

CoolWallet 1inch partnership announcement image.
CoolWallet 1inch partnership announcement image.

2022 in starting blocks

Since the beginning of 2022, 1inch has multiplied the evolution of its protocol.

So, at the beginning of the year, the protocol announced the deployment of a 1-inch instance on the Avalanche blockchain. This deployment allows 1 inch scaling across 7 different blockchains.

In addition, in early February, the platform announced the launch of its Earn service, which allows stablecoin liquidity providers to receive income in the amount of 5 to 10% per annum.

Most recently, 1inch introduced a new feature: peer-to-peer exchanges. Thus, the platform offers decentralized exchanges between users, bypassing the liquidity in the chain.

1Inch is expanding the capabilities of its aggregator more and more and seems to want to innovate in the DeFi sector. If you also want to get started and experiment with the different services that exist out there. You will have to start by buying your first cryptocurrencies on a centralized exchange. What could be better than going through a reference platform that guarantees you maximum security? In this case, we recommend FTX! Register and buy your first cryptocurrencies there! (affiliate link)

Leave a Comment

Your email address will not be published.