In a bid to continue providing top-notch service to its growing users, decentralized exchange (DEX) aggregator, 1inch, has released a swap API for Polygon.
1inch Network’s launch of the swap API for Polygon (formally known as Matic) provides an innovative aggregation solution that keeps ahead of the competition. This swap API will facilitate faster transaction speeds and rates for swaps, in addition to reducing slippage and gas fees.
1/
🔥 The #1inch Labs team is proud to release a swap #API for #Polygon! 🔥
🔑 Key advantages:
📌 Faster transactions
📌 Improved rates for swaps
📌 Reduced slippage and gas fees🌐 Read our new blog post ⤵️ for more details!
@0xPolygon #DeFi #ETHhttps://t.co/KkeHu3Tkl3
— 1inch Network (@1inch) May 20, 2021
1inch’s new swap API ensures the most efficient token swap paths are found and utilized. Going through liquidity pools – including different market depths simultaneously – the API builds call data to be sent to the blockchain.
The API features a low median response time below 400ms and can be integrated with an Decentralized Application (DApp) or bot. At the moment, the 1inch swap API supports the following protocols on Polygon:
- Aave V2
- Cometh
- Curve
- Dfyn
- QuickSwap
- SushiSwap
This list is set to increase as 1inch installs further updates.
Release of the 1inch Wallet App
1inch have also released their own 1inch iOS Wallet application. The app provides a relatable experience to the web version of the 1inch platform, but with the comfort and clarity of a mobile app. With 1inch Wallet, users will be able to authorize and confirm transactions through an Apple Watch.
The application will commence in phases, with its first phase pointing at a highly protected wallet implementation with exchanges. Staking, governance, and liquidity pools will be introduced afterward.
Additionally, 1inch users can effortlessly switch between Binance Smart Chain (BSC) and Ethereum when looking for improved speed and reduced fees.
As stated by the official website, 1inch Wallet grants users access to the most liquidity and best token swap rates across various DEXs. The site also notes that all transactions are safeguarded as the Wallet parses call data, enabling users to effortlessly import wallets.
1inch Surpassed $35b in Total Trading Volume
Remarkably, the token successfully hit another milestone in its journey towards global prevalence. According to 1inchNetwork Twitter handle, the token has successfully surpassed $35 billion in total trading volume on the Ethereum network.
🔥 Hell yeah!
🦄 #1inch successfully surpasses $35B in total trading volume on #Ethereum network! 🎉🚀
Another milestone in our adventure 🛤#crypto #cryptotrading @DuneAnalytics #DeFi pic.twitter.com/wJzH7PINpI
— 1inch Network (@1inch) May 4, 2021
At the time of publication, the token price was trading at $2.96 – down by 16.6% over the last 24 hours.
The token has a current market cap of $496,658,908, a 24-hour trading volume of $209,499,468, and a circulating supply of 167 million of a 1.5 billion max supply.
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