Share this article
Polygon lands another massive integration: 1inch Network has launched on the scaling solution.
1inch DEX Launches on Polygon
1inch Network, the popular protocol that aggregates some of DeFi’s most essential projects in one app, has gone live on Polygon.
In the Age before #Crypto, the world was shrouded by fog. But then there was Fire. And with Fire came disparity. And #ETH with #BSC were born.
The 3rd world had always been a tale of ancient #degens. But the truth appeared before #1inch mascot in the form of a green portal. pic.twitter.com/2V6WHp0EnD
— 1inch Network (@1inchNetwork) May 13, 2021
The move will initially allow users to access liquidity from Curve, SushiSwap, QuickSwap, Aave V2, and Cometh via Polygon, with more sources to be added at a later date.
Polygon is one of Ethereum’s top scaling solutions. It’s had a big year so far, integrating the likes of Aave, Curve, and SushiSwap. Transactions on the network have also exploded, while its native MATIC token has recently risen above $1 (it started the year at $0.18). It has its own Proof-of-Staker consensus algorithm and acts as a sidechain to Ethereum mainnet, processing transactions at a fraction of the cost. It costs less than a cent, paid in MATIC, to process a transaction. Polygon is also targeting sustainability in the NFT space, recently collaborating with Cent, a platform for tokenizing tweets.
Sergej Kunz, the co-founder of 1inch Network, explained that the project’s community had called for the integration. In a blog post announcing the update, he said:
“After the 1inch Network expanded to Binance Smart Chain, there was a massive request from the community to make Polygon available for swapping via 1inch. Currently, the 1inch Aggregation Protocol is already deployed on Polygon, while the 1inch Liquidity Protocol and the 1inch Governance Protocol are expected to expand over to Polygon in the upcoming few weeks.”
1inch went live on Binance Smart Chain in February amid surging gas fees on Ethereum. The price of using DeFi’s base layer has been creeping up again over the last few days, helped by ETH’s record prices and a frenzy for so-called “dog coins.” Now that the popular aggregator has gone live on Polygon, users will have another affordable alternative.
Disclosure: At the time of writing, the author of this feature owned ETH, CRV, AAVE, and MATIC. They also had exposure to SUSHI in a cryptocurrency index.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
1inch Exchange Goes Live on Binance Smart Chain
Decentralized exchange (DEX) aggregator 1inch Exchange has launched its service on Binance Smart Chain (BSC). 1inch Expands to Binance Smart Chain 1inch Foundation has deployed its DEX aggregator and liquidity…
Polygon Transactions Explode After DeFi Expansion
Polygon’s on-chain activity suggests exponential growth over the last month, largely driven by DeFi projects expanding to the platform. Polygon Experiences DeFi Growth As Ethereum faces scaling issues and high…
What Are Non-Fungible Tokens (NFTs)?
Tokenization is well-suited for commodities like fiat currencies, gold, and physical land. A fungible asset’s representation on blockchain makes commodities tradable 24/7 via borderless and frictionless transactions. Fungible goods are…
Behind Polygon’s Mission to Become the “AWS of Ethereum…
Ethereum’s exorbitant gas fees have made headlines all year long. But for every bottleneck lies a business. And one fast-rising star in the scalability race is Polygon (previously Matic), a…
Be the first to comment