The 1inch Network is taking an impressive leap into decentralized finance (DeFi) by integrating its 1inch Aggregation and Limit Order Protocols onto Base, the Layer-2 Ethereum scaling solution created by Coinbase. This groundbreaking move in the network’s development will provide users with new opportunities and possibilities.
1inch Network co-founder Sergej Kunz expressed his excitement for this advancement. In addition, Kunz highlighted the potential of Base, emphasizing its support from Coinbase as a Layer-2 (L2) solution. In addition, he emphasized the alignment of values between 1inch Network and Base, both of which share the same goal of bringing new users into the blockchain space.
In addition to offering higher security, stability, and scalability for decentralized applications, Base is an Ethereum Layer-2 solution. In contrast to other similar solutions, this technology has an Ethereum Virtual Machine (EVM) built-in that is relatively inexpensive. Developers seeking reliable foundations for their projects may find this development beneficial.
Partnering with Base gives access to Coinbase’s wide range of products and straightforward ways for users to buy cryptocurrency. This collaboration allows projects hosted on Base to benefit from Coinbase’s large user base, potentially broadening their reach and impact.
Base reached a critical turning point on August 9 when it went from development to launch and welcomed the general public onto its mainnet. Over 100,000 daily active users have flocked to the network, marking a remarkable increase in adoption. The increasing transaction volumes, which have started to match those seen on well-known Optimistic Rollup scaling solutions like Arbitrum and Optimism, serve as further evidence of this traction.
The partnership between 1inch Network and Base brings real advantages for users. By integrating the 1inch Aggregation Protocol and Limit Order Protocol to Base, people can enjoy lower transaction fees and faster speeds. These improvements offer a better user experience, which meets the increasing demand for simpler DeFi solutions.
The 1inch Network on Base offers a wide selection of protocols, such as Balancer v2, Uniswap v3, and SushiSwap v3. This diverse range of options is designed to provide users with an all-encompassing DeFi experience so they can choose the best fit for their needs.
As the decentralized finance landscape continues to evolve, the partnership between the 1inch Network and Base emerges as a dynamic force. By joining forces, they not only enrich the offerings available to users but also contribute to the broader narrative of blockchain accessibility and adoption. The seamless integration of advanced protocols onto Base underscores the ever-growing synergy between cutting-edge technology and user-centric solutions, propelling DeFi into new realms of innovation and accessibility.