Popular Decentralized Exchange 1Inch Partners with Coinbase's Base Network to Expand Liquidity Aggregation
Popular Decentralized exchange aggregator 1inch partners with Coinbase's Ethereum Layer 2 network Base to deploy its 1inch Aggregation Protocol and the 1inch Limit Order Protocol.
With the mainnet launch of Base on August 9th, exchanges like Uniswap, Balancer, and SushiSwap have just joined the Network.
As part of this development, 1inch has been integrated into the Base ecosystem.
The aim is to pull liquidity from the 15 decentralized exchanges already operational on the Network, including Uniswap, Balancer, SushiSwap, and Base Swap.
By sourcing swap rates from various DEXs, the 1inch limit order protocol empowers investors to buy and sell orders at their predetermined values strategically.
This contrasts with the prevalent instant common price conversions provided by decentralized exchanges.
"Base is a very promising L2 solution, plus it's incubated by such a major player as Coinbase, said Sergej Kunz, the co-founder of 1inch Network. "In addition, we totally share Base's philosophy aimed at bringing the next billion users to the blockchain."
1inch also said that the Base blockchain benefits from "Coinbase product integrations and easy fiat onramps," which will extend to projects in the ecosystem.
Although, Coinbase recently announced that it will stop trading Tether USDT, Dai DAI, and RAI stablecoins for Canadian users from August 31. This is due to these coins no longer meeting the company's listing standards following their latest reviews.
Dominating the DEX aggregation sector, 1inch has managed a trading volume surpassing $1 billion in the last week.
The protocol's integration extends to prominent Layer 2 networks like Optimism, Arbitrum, and zkSync Era while also providing compatibility with Ethereum, BNB Chain, Avalanche,
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