Crypto exchange 1inch tests new features with $21 million ETH sale
Crypto exchange 1inch sold 11,000 ETH worth around $21 million to test out new features of a protocol upgrade. Users noticed the transfer on blockchain tracking tool Etherscan. 1inch founder Sergej Kunz explained that the team was testing the new feature in Fusion mode, which allows for custom presets to set duration, start and end auction amount. This strategy is helpful for rebalancing assets for DAOs, Hedge and Investment Funds. The trade was executed with a better average rate compared to just a market swap.
Key points:
– 1inch sold 11,000 ETH worth around $21 million to test new features
– Users noticed the transaction on blockchain tracking tool Etherscan
– The new feature in Fusion mode allows for custom presets for rebalancing assets
– The trade was executed with a better average rate compared to a market swap
– 1inch has been testing various features for the Fusion update since its launch in December
Hot Take
1inch’s testing of new features with a $21 million ETH sale demonstrates the exchange’s commitment to improving its protocol and providing better options for users. The ability to customize presets for asset rebalancing is a valuable feature for DAOs, Hedge and Investment Funds. This transaction showcases 1inch’s dedication to optimizing trades and offering improved rates compared to market swaps. The ongoing testing of Fusion updates highlights 1inch’s continuous efforts to enhance transaction efficiency and security.
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