1inch Expands to Base, Coinbase-Incubated Layer-2 Blockchain
1. 1inch, the decentralized exchange aggregator, is expanding its services to Base, a layer-2 blockchain incubated by Coinbase.
2. Base will benefit from Coinbase product integrations and convenient fiat onramps, which will also extend to projects within the ecosystem.
3. The 1inch Aggregation Protocol and the 1inch Limit Order Protocol have been deployed on Base, providing users with lower transaction costs, higher speeds, and extra liquidity.
4. The expansion to Base aligns with 1inch’s goal of bringing the next billion users to blockchain and its shared philosophy with Base.
5. 1inch users will now have access to protocols like Uniswap v3, Balancer v2, SushiSwap v3, Rocket Swap, and 1inch Limit Order Protocol v3 on the Layer 2 Ethereum scaling solution.
Base Attracts Over $100k Daily Active Users
– Since the public launch of Base, the layer-2 blockchain has consistently attracted over $100k daily active users.
– The popularity of Base has been driven by the hype surrounding the social app Friend.tech.
– At one point, the daily transactions on Base even surpassed those on Ethereum.
– However, Base has also experienced a surge in scam tokens, with over 500 fraudulent tokens and $2 million stolen in profits.
Hot Take
1inch’s expansion to Base is a strategic move to provide its users with access to a layer-2 solution that offers lower costs, faster speeds, and increased liquidity. The partnership with Coinbase and the shared philosophy of bringing more users to blockchain strengthens the potential of both 1inch and Base. However, the surge in scam tokens on Base highlights the need for increased security measures to protect users and maintain trust within the ecosystem.
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