In a strategic expansion within the decentralized finance (DeFi) ecosystem, the 1inch Network has deployed its protocols on the Avalanche and Gnosis Chain blockchains. This move underscores 1inch's commitment to enhancing cross-chain interoperability and providing users with cost-efficient, high-speed transaction options.
Key Deployments: Avalanche and Gnosis Chain Integration
1inch Aggregation Protocol on Avalanche
- Purpose: Facilitate optimized token swaps by aggregating liquidity from multiple decentralized exchanges (DEXs) like Trader Joe and SushiSwap.
Features:
- Access to 1inch Limit Order Protocol v2.
- Integration with Aave v2 for lending/borrowing.
- Support for Avalanche-native protocols (e.g., YetiSwap).
1inch Limit Order Protocol on Gnosis Chain
- Purpose: Enable advanced order types (e.g., limit orders) with minimal fees.
Features:
- Compatibility with Gnosis-based DEXs like Honeyswap and Levinswap.
- Gasless swaps for converting tokens into ETH.
👉 Explore how 1inch is revolutionizing DeFi
Why Avalanche and Gnosis Chain?
- Avalanche: Known for its sub-second finality and scalability, it hosts over $10.4 billion in TVL, making it a DeFi hotspot.
- Gnosis Chain: A fork-less Ethereum sidechain with $22 million TVL, offering low-cost transactions and EVM compatibility.
Sergei Kunz, 1inch co-founder, emphasized:
"Our expansion to these chains aligns with our mission to deliver the best trade execution across blockchains while reducing costs."
Recent Developments: Limit Order Protocol v2 and Funding
- Limit Order Protocol v2: Launched in December 2021, it processes gasless ETH swaps and has handled $3 billion in trades historically.
Series B Funding: Raised $175 million to bridge institutional players into DeFi, as noted by Kunz:
"1inch aims to be the gateway for traditional finance entering DeFi."
FAQ Section
What is 1inch’s primary goal?
To aggregate liquidity across DEXs, ensuring users get optimal trade rates with low fees.
Which protocols are available on Avalanche via 1inch?
Aave v2, SushiSwap, Trader Joe, and 1inch Limit Order Protocol v2.
How does Gnosis Chain benefit from this integration?
Users gain access to 1inch’s aggregation tools and limit-order features tailored for low-fee environments.
👉 Discover more about cross-chain DeFi innovations
Conclusion
1inch’s expansion to Avalanche and Gnosis Chain reflects its focus on scalability and user-centric solutions. With its upgraded protocols and institutional funding, 1inch is poised to shape the future of multi-chain DeFi.