- 1inch deployed aggregation and limit order protocols on Base, supported by Coinbase, to expand in DeFi.
- Teaming with Base grants access to Coinbase’s products, increasing influence.
On Thursday, August 24th, 1inch revealed in a blog post its deployment of the aggregation protocol and limit order protocol on the Base network, an initiative supported by Coinbase. The project aims to broaden its presence in decentralized finance (DeFi).
1/ A new adventure begins 🙌
🦄 Our mascot, guided by #DeFi and #Web3 vibes, has again discovered a circular blue portal.
Join us as #1inch embarks on the next chapter of its thrilling journey, reshaping the industry’s future!
And remember to welcome @BuildOnBase! pic.twitter.com/6IPVx5Py3S
— 1inch Network (@1inch) August 24, 2023
Sergej Kunz, co-founder of 1inch Network, conveyed his enthusiasm for this progress. Furthermore, Kunz underscored Base’s prospects, accentuating its endorsement by Coinbase as a Layer-2 (L2) solution. He also emphasized the resonance of values between 1inch Network and Base, both driven by the common objective of introducing fresh participants to the blockchain realm.
Apart from providing increased security, stability, and scalability for decentralized applications, Base operates as an Ethereum Layer-2 solution. Unlike comparable solutions, this technology incorporates an Ethereum Virtual Machine (EVM) at a cost-effective rate. This advancement could prove advantageous for developers searching for dependable frameworks.
Leveraging Coinbase’s Ecosystem
Teaming up with Base provides access to Coinbase’s diverse products and user-friendly avenues for cryptocurrency purchases. This collaboration allows projects hosted on Base to tap into Coinbase’s extensive user base, potentially expanding their influence.
Base achieved a pivotal milestone on August 9th as it transitioned from development to its mainnet launch, inviting the general public to participate. The network has experienced a noteworthy surge in adoption, attracting over 100,000 daily active users. Increasing transaction volumes, comparable to established scaling solutions like Arbitrum and Optimism, further validate its growing traction.
The alliance between 1inch Network and Base yields tangible benefits for users. Integrating the 1inch Aggregation Protocol and Limit Order Protocol into Base translates to reduced transaction fees and faster speeds. These enhancements enhance user experience, catering to the rising demand for user-friendly DeFi solutions.
In the ever-evolving decentralized finance landscape, the partnership between 1inch Network and Base assumes a dynamic role. Their collaboration not only enriches user offerings but contributes to the broader narrative of blockchain accessibility and adoption. The seamless integration of advanced protocols within Base underscores the growing harmony between cutting-edge technology and user-centric solutions, propelling DeFi towards novel dimensions of innovation and accessibility.
Immediate Protocol Offerings on 1inch
The protocols are readily accessible via 1inch on Base encompass Uniswap v3, Balancer v2, SushiSwap v3, Base Swap, Kokonut Swap, Rocket Swap, SwapBased, SynthSwap, HorizonDEX, Velocimeter v2, and the 1inch Limit Order Protocol v3, among others. This diverse spectrum ensures users encounter a comprehensive DeFi journey, empowering them to select the optimal fit for their requirements.
Additionally, this remarkable range of supported protocols highlights the depth of integration. It situates 1inch users on the cutting edge of the DeFi transformation, where diverse and dynamic choices hold paramount significance.
The cascading impact of this expansion reverberates beyond the immediate user community. Base’s affiliation with Coinbase extends the advantage of seamless integration with Coinbase’s comprehensive array of products and services, including effortless access to fiat currency.
This synergy propels projects hosted on Base into the forefront, granting them access to an expansive ecosystem of existing and potential users.
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