Share this article
The decentralized exchange aggregator 1inch has launched on Avalanche and Gnosis Chain.
1inch Grows Multi-Chain Presence
1inch Network has announced another expansion.
The decentralized exchange aggregator has deployed its contracts on Avalanche and Gnosis Chain.
Launched in August 2020, 1inch is DeFi’s top decentralized exchange aggregator in terms of daily volume. By aggregating multiple decentralized exchanges on any one blockchain, the platform allows users to find the most favorable rates for swapping DeFi tokens.
According to Dune Analytics, 1inch has handled about $357.7 million in trading volume in the last 24 hours, far surpassing competitors like 0x, DODO, CowSwap, ParaSwap, Tokenlon and MistX.
1inch initially launched on Ethereum and has since expanded to several networks that offer compatibility with the Ethereum Virtual Machine, including Binance Smart Chain, Polygon, Arbitrum, and Optimism. Avalanche and Gnosis Chain (formerly known as xDai Chain) are the latest two additions to 1inch’s list of supported networks. As with the previous deployments, both networks are EVM-compatible.
1inch is hoping that moving to Avalanche and Gnosis will help the project acquire users and grow its multi-chain presence. In a Thursday press release, 1inch co-founder Sergej Kunz said that the move would “offer 1inch users more options for cheap and fast transactions.”
Of the two new networks, Avalanche has more on-chain activity across a range of DeFi applications. According to data from DeFiLlama, the total value locked on Avalanche is currently $10.48 billion.
1inch will integrate many of the leading protocols running on Avalanche, including Aave, Curve, Trader Joe, Sushi, Pangolin, YetiSwap, Elk Finance, KyberSwap, Lydia Finance, Baguette, Canary Exchange, OliveCash, and WAVAX.
On Gnosis Chain, meanwhile, 1inch will integrate Curve, Sushi, Elk Finance, Honeyswap, LevinSwap, Swapr, Symmetric, and wxDai. Gnosis Chain, which acts as an Ethereum sidechain, has seen significantly less adoption than Avalanche. According to DeFi Llama, the total value locked on the network is around $206.6 million today.
Disclosure: At the time of writing, the author of this piece owned ETH, MATIC and other cryptocurrencies.
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…
1inch Expands to Ethereum Layer 2 Solution Optimism
1inch has launched on Optimistic Ethereum, Optimism’s Layer 2 scaling solution. 1inch Heads To Layer 2 1inch has deployed its code on Optimistic Ethereum, Optimism’s Layer 2 scaling solution. The decentralized…
Web3 – What it is, What it Means, and How We’ll Transition
We are at the dawn of a new era of the internet. Bit by bit, this new digital world, and all that it enables, will slowly become a part of…
Ethereum DEX Aggregator 0x Launches on Polygon
0x has expanded to the Polygon network. 0x Adds Support for Polygon 0x, one of Ethereum’s top decentralized exchange aggregators, has launched on Polygon. 0x first launched its Application Programming…