1inch Network Launches Decentralized Exchange Aggregation and Limit Orders on Ethereum Layer 2

1inch Network Launches Decentralized Exchange Aggregation Protocol on Ethereum Layer 2

1inch Network has introduced its decentralized exchange aggregation protocol and limit orders on the Ethereum Layer 2 network, Base. The protocol will optimize user swap rates by drawing liquidity from popular decentralized exchanges such as Uniswap, Balancer, SushiSwap, and Base Swap. Additionally, the limit order protocol allows Base users to trade at desired prices, executing only when the market price matches their set value. 1inch Network co-founder Sergej Kunz expressed optimism about Base, as it is a promising Layer 2 solution incubated by Coinbase.

Key Points:

1inch Network launches decentralized exchange aggregation protocol and limit orders on Ethereum Layer 2 network, Base
Protocol optimizes user swap rates by utilizing liquidity from decentralized exchanges like Uniswap, Balancer, SushiSwap, and Base Swap
Limit order protocol enables Base users to trade at desired prices, executing only when market price matches their set value
1inch Network leads in DEX aggregation niche, processing over $1 billion in trading volume in the past week
Base has already integrated with Optimism, Arbitrum, and zkSync Era Layer 2 networks and supports various blockchains

Base Gains Momentum in Ethereum Scaling Race

Base, the Ethereum Layer 2 network, has seen a surge in daily active users, surpassing 100,000 since its public launch on August 9. The growth can be attributed, in part, to the popularity of social network Friend.tech and Base’s Onchain Summer initiative. Notably, Base has also attracted attention with Coca-Cola’s “Masterpiece” NFT collection. Furthermore, the daily transactions on Ethereum Layer 2 have surpassed those of competing scaling solutions Arbitrum and Optimism, with Base recording a seven-day moving average daily transaction count of 813,000 on August 23.

Hot Take

The launch of 1inch Network’s decentralized exchange aggregation protocol on the Ethereum Layer 2 network, Base, is a significant development for the crypto community. By optimizing swap rates and introducing limit orders, the protocol enhances the trading experience for users. Base’s growing user base and increasing transaction count further solidify its position in the Ethereum scaling race. With support from major players like Coinbase and integration with various Layer 2 networks, Base has the potential to become a leading platform for decentralized exchanges and contribute to the widespread adoption of cryptocurrencies.