Popular gamified platform Blind Boxes (BLES) has announced the details of a strategic partnership with 1inch. The partnership is aimed at facilitating the launch of its liquidity mining platform.
Blind Boxes (BLES) is all known as the first-ever gamified platform built specifically for non-fungible tokens (NFTs). Its partnership with 1inch is an important milestone as it will increase the use case of $BLES tokens in the DeFi ecosystem. Additionally, it will allow holders to deploy their $BLES across DEX and earn yield. Basically, 1Inch is a DEX aggregator. It is designed to work out the best crypto prices across DEXs.
💥 Blind Boxes Cooperates with 1inch to Launch Liquidity Mining 💥
— Blind Boxes (@blindboxes_io) April 26, 2021
More on the partnership
The partnership with 1inch, according to Blind Boxes (BLES) is a welcome development. Thanks to the partnership, the gamified curation platform, and NFT launchpad will be able to launch its ETH-BLES pair. Therefore, facilitating the provision of liquidity to its already existing Liquidity Protocol. The gamified platform will provide $200,000 worth of BLES tokens as rewards to LPs of the ETH-BLES pool. This move is sure to result in the creation of more use cases for the BLES token in the DeFi space.
Speaking on the partnership, Anita Angelica Moore, CEO of Blind Boxes, revealed that community members’ response to Blind Boxes has been extraordinary. She added that increase in NFT adoption is resulting in a corresponding increase in the number of visitors and users on Blind Boxes. Moore also disclosed that the NFT launchpad views “[…] this partnership with the 1inch Network as an important step.”
Sergej Kunz, of 1inch Network also corroborated the fact that NFT is currently “[…]one of the hottest topics in the DeFi space nowadays”. He added that 1inch was looking to harness this fast-rising sphere, hence its partnership with top players in the crypto space like Blind Boxes.
According to reports, 1inch users will have yet another access to farming using Blind Boxes BLES tokens.
1inch, is well-known as a DEX aggregator platform involved in searching out liquidity sources. This is in a bid to provide users with the best available liquidity rate in the DeFi space. 1inch makes use of the Pathfinder algorithm which helps locate the best available liquidity paths. With Pathfinder algorithm, 1inch has been able to locate over 50 liquidity sources on the Ethereum chain and more than 20 liquidity sources on Binance Smart Chain (BSC). The platform has garnered the attention of DeFi enthusiasts in recent times. According to reports, the DEX aggregator platform exceeded $33 billion in its overall volume in under 2 years.
The DEX aggregator platform 1inch is made up of five important parts. Interestingly, these parts are both independent and interoperable. They include its well-known 1inch Aggregation Protocol and 1inch Liquidity Protocol. The other fairly known components are the 1inch DAO, 1inch Labs, and lastly the 1inch Foundation.
At the time of writing, BLES was trading at $1.54, with a market cap of $11,919,800 and a 24-hour trading volume of $758,190.
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