Deeper Liquidity and Faster Transactions

1inch Network, one of the leading decentralized finance (DeFi) platforms, has deployed its aggregation and limit order protocols on zkSync Era, a Layer-2 scaling solution for Ethereum.

BSC News spoke to 1inch about the deployment which will allow 1inch users to access deeper liquidity and, in the longer run, enjoy faster transaction speeds and lower fees.

zkSync, which launched in late March 2023, is powered by the Zero-knowledge rollups (ZK-rollups) technology and aims to increase Ethereum's throughput while preserving the values of freedom, self-sovereignty, and decentralization at scale.

The ultimate goal of zkSync is hyper scalability, which means it can process an unlimited number of transactions without any significant impact on security or costs.

Sergej Kunz, the co-founder of 1inch Network, said, “zkSync Era is a very promising L2 solution, and we are glad to be among the first projects to deploy on that network. As zkSync Era gains steam, 1inch users will benefit from faster and cheaper transactions.”

The deployment of 1inch on zkSync Era will offer DeFi users greater transparency and enable them to execute faster trades at better rates and with less slippage on their transactions. As the largest DEX aggregator by on-chain volume, 1inch will provide deeper liquidity to zkSync Era, contributing to even greater adoption and usage of the blockchain.

Alex Gluchowski, CEO and co-founder of Matter Labs, the team behind zkSync, added, “We’re extremely excited to see the 1inch Network deploy on zkSync Era. DeFi has been a driving force behind zkSync Era’s explosive growth that has seen over $200M in TVL driven to the protocol in just three short weeks, and we expect the deployment of 1inch to contribute to even greater adoption and usage of zkSync Era.”

GemSwap, SpaceFi, SyncSwap, and Mute are among the several protocols that are immediately available via 1inch on zkSync Era. With this deployment, 1inch Network is expanding its reach across the DeFi space and offering its users a seamless and efficient trading experience.

What is 1inch:

1inch is a decentralized exchange (DEX) aggregator that provides the best rates by discovering the most efficient swapping routes across all leading DEXes. 1inch operates on multiple networks, including Ethereum, BNB Chain, Polygon, and Optimistic Ethereum.

Where to find 1inch:‍

Website | Twitter | Medium | Discord | Telegram |