Expanding the DeFi Universe
In an exciting turn of events, the 1inch Network has announced its upcoming integration of the 1inch Aggregation Protocol and the 1inch Limit Order Protocol on Avalanche and Gnosis Chain, previously known as the xDai Chain. This move is part of 1inch’s larger strategy to enhance its footprint in the fast-evolving decentralized finance (DeFi) landscape.
Why Avalanche and Gnosis Chain?
Avalanche is gaining traction as a cross-chain network with a Total Value Locked (TVL) of an impressive $10.4 billion, according to DeFi Llama. Despite some vulnerabilities highlighted by recent events, the potential for growth is undeniable. Users of the 1inch Network can relish lightning-fast and budget-friendly transaction options through this integration.
The Voices Behind the Vision
“1inch’s main goal is to offer users the best deals across the blockchain space,”
— Sergej Kunz, Co-founder of 1inch Network
Sergej Kunz emphasizes the importance of choice in the DeFi world, indicating that the launch will provide users with a plethora of options. It almost sounds too good to be true. Who wouldn’t want to have their cake and eat it too, especially if it’s sprinkled with some solid crypto frosting?
An Array of Available Protocols
Upon launch, users will have immediate access to a variety of protocols on Avalanche like:
- 1inch Limit Order Protocol
- Aave
- Baguette
- Canary Exchange
- Pangolin
- SushiSwap
- Trader Joe
On the Gnosis Chain front, users will also find:
- 1inch Limit Order Protocol
- Elk Finance
- Honeyswap
- Levinswap
- SushiSwap
A Glimpse into the Future
The total value locked on Gnosis Chain at publication was $22 million, showing that while smaller than Avalanche, it is not to be underestimated. Curve v1 stands as the largest decentralized exchange (DEX) on Gnosis, showcasing the diversity and possibilities that this chain can bring to the table.
With these developments, the 1inch Network is not just riding the DeFi wave; it’s propelling it forward!
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