1inch Network Declares Major Upgrade for Cost-Efficiency and Profitable Swaps.
A leading DeFi aggregator 1inch Network saw a major upgrade to its 1inch Swap Engine to deliver cost-efficient, secure and profitable swaps for crypto investors. The upgrade called Fusion allows DeFi investors to place orders with a predecided price and time range without paying network fees.
It also includes network improvements like updated staking contracts and tokenomics. Being a decentralized trading and matching system, 1inch Swap Engine connects the DeFi users. It provides liquidity for crypto trades through professional market makers.
Sergej Kunz, 1inch Network co-founder, explained that fusion makes swaps on 1inch dramatically more cost-efficient. Users do not have to pay network fees. Moreover, an extra layer of security is added to protect users from sandwich attacks. The network’s latest upgrade allows investors to perform secure non-custodial swaps which are executed in a totally permissionless and trustless manner. 1inch Network provides limitless liquidity and utilizes a new type of decentralized order-matching approach based on the Dutch auction model. Through the fusion mode, users can exchange tokens on various DEXes without paying any network fees. They can choose the order execution time as per their unique requirements.
The Fusion mode also offers protection against the maximum extractable value, which refers to the maximum value that can be extracted from block production in excess of the standard block reward and gas fees. 1inch Network also launched the Resolver Incentive Program which will help resolvers get a refund on the gas spent on filling users’ orders in fusion mode until December 31, 2022.