1inch, a prominent player in the realm of decentralized finance (DeFi), has introduced a new upgrade aimed at boosting efficiency and cutting down on transaction expenses for its users. This update, tailored to enhance the 1inch Swap and limit order functionality, pledges savings of up to 16 percent on transaction fees.
The upgrade brings forth several significant enhancements. Firstly, 1inch’s renowned swap router, celebrated for its optimizations, has undergone further refinement, resulting in a reduction of gas usage by up to 16% across common routes, particularly leveraging protocols like Uniswap v2 and v3.
1/ 🎉 Hey #1inch fam, big news! 🚀 We've unleashed a significant upgrade: swaps and limit orders now up to 16% cheaper.
But wait, there's more – we've loaded up on features to turbocharge your trading experience.
Welcome to the new era of #DeFi trading! 😎 pic.twitter.com/fdS1cr2yR4
— 1inch Network (@1inch) March 1, 2024
Moreover, the upgraded Limit Order Protocol amalgamates traditional limit orders with high-performance RFQ (Request for Quote) orders into a single, lightweight protocol. This redesign enhances gas efficiency by 14% for limit orders and 3% for RFQ-like orders, offering users a more seamless and adaptable trading experience.
3/ ⚙️ One of the core improvements: #1inch's swap router now slashes gas usage by up to 16% on common routes, notably via #Uniswap v2/v3 & @CurveFinance protocols.
Our swap router has been known for its incredible optimizations, ranking as the most optimized on the market. pic.twitter.com/gXVpnqnpEc
— 1inch Network (@1inch) March 1, 2024
Sergej Kunz, co-founder of 1inch, emphasized the company’s commitment to innovation and user empowerment, stating their belief in consistently pushing the boundaries of the DeFi landscape. He also highlighted the platform’s dedication to optimizing transactions and fostering a more inclusive DeFi ecosystem.
Additionally, the updated protocols now fully support the existing permit2 feature, enabling users to engage in trades without the need for token approval if they have previously traded the same coin on any other DeFi project. This not only simplifies the trading process but also enhances security by reducing the number of approvals required, thereby minimizing potential attack vectors.
Looking forward, 1inch strategically plans to implement a series of upgrades to its Fusion feature. These forthcoming enhancements aim to strengthen and solidify the platform’s position as a leading provider of optimized solutions for swaps and limit orders within the dynamic DeFi market landscape. By continuously refining and innovating its offerings, 1inch remains committed to maintaining its leadership position and meeting the evolving needs of its users.
In summary, the latest upgrade from 1inch marks a significant stride towards enhancing efficiency and lowering transaction costs for users engaged in decentralized finance activities. Whether executing swaps or limit orders, 1inch continues to innovate to provide its users with the most optimized solutions available in the market.
