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Saturday, October 16, 2021

1inch Network Expands to Polygon

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The expansion provides 1inch users with access to multiple liquidity sources on Polygon such as Curve, SushiSwap, QuickSwap, Aave V2 and Cometh.

The 1inch Aggregation Protocol has expanded to the Polygon network (formerly known as Matic), one of the most promising scaling solutions on Ethereum.

At the initial stages, aggregation will be available for Curve, SushiSwap, QuickSwap, Aave V2 and Cometh, while more protocols will be gradually added.

Polygon, a platform for Ethereum scaling and infrastructure development, is widely believed to be vital for helping Ethereum keep up with the competition amidst the process of switching to the Proof-of-Stake (PoS) consensus algorithm.

Aiming to enable Ethereum to become a full-fledged, powerful multi-chain system, Polygon offers a high throughput of roughly 7,000 transactions per second. Unlike Ethereum’s original Proof-of-Work (PoW) consensus algorithm, in PoS, block transactions are confirmed by validators.

“After the 1inch Network has expanded to Binance Smart Chain, there was a massive request from the community to make Polygon also available for swapping via 1inch. Currently, the 1inch Aggregation Protocol is already deployed on Polygon, while the 1inch Liquidity Protocol and the 1inch Governance Protocol are expected to expand over to Polygon in the upcoming few weeks,” says Sergej Kunz, co-founder of 1inch Network.

To simplify the process of transferring assets between the Ethereum and Polygon blockchains, Polygon runs a bridge connecting the two networks and a dedicated wallet.Enjoy swapping on Polygon via 1inch and stay tuned for more updates to come!

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