Launched in May 2019, the 1inch platform has quickly become the reference for DEX aggregators. Thus, it is connected to many decentralized exchange platforms to allow you to constantly get the best rates. From now on, 1inch multiplies partnerships to ensure a better cross-chain integration to the DeFi.
1Inch X Debridge
DeBridge is a cross-chain protocol allowing to transfer funds between various blockchains. Among the supported chains we find Ethereum, Arbitrum, Polygon, BNB Smart Chain and Heco.
On Wednesday March 16th, deBridge announced a partnership with the 1inch protocol, allowing a major evolution of the protocol. As a result, deBridge users will now be able to perform cross-chain swaps in a single transaction:
“deBridge’s infrastructure is used to transfer assets and data for the 1inch router, which executes the transaction data and exchanges liquidity into the target asset.”
This service significantly reduces transaction costs. That’s because instead of performing the swap and then sending the funds (or vice versa) via a bridge, deBridge allows these two actions to be coupled into a single transaction.
1Inch X Coolwallet
The day after announcing the partnership with deBridge, 1inch announced a second partnership, this time with hardware wallet CoolWallet. In practice, this partnership is part of the integration of CoolWallet into the DeFi ecosystem.
Thus, users of the CoolWallet hardware wallet will now be able to access decentralized exchanges via the 1inch aggregator.
To do so, they will be able to access the functionality via the CoolBitX application that allows them to manage the funds present on the hardware wallet :
“CoolBitX app users will be able to securely exchange one cryptocurrency for another at the most competitive rates on the market directly in their app.”
Obviously, the entire process is done in a decentralized and permissionless manner.
A year 2022 in the starting blocks
Since the beginning of 2022, 1inch has been multiplying the evolutions of its protocol.
Thus, at the beginning of the year, the protocol announced the deployment of an instance of 1inch on the Avalanche blockchain. This deployment allows 1inch to evolve on 7 different blockchains.
Additionally, in early February, the platform announced the launch of its Earn service, allowing stablecoin liquidity providers to earn a return ranging from 5% to 10% annually.
More recently, 1inch unveiled a new feature: peer-to-peer trading. The platform offers decentralized exchanges between users, without the need for on-chain liquidity.
