1inch integrates Unstoppable Domains service

The DeFi project 1inch announced a partnership with the decentralized domain registrar Unstoppable Domains. ForkLog said representatives of the project.

This step will allow 1inch Wallet users to conduct transactions in a more convenient way by replacing complex addresses with domain names. The latter are non-fungible tokens (NFTs).

“User experience, security and identity issues continue to hinder mass adoption of Web3. The partnership with Unstoppable opens opportunities to overcome these barriers,” said Sergey Kunz, co-founder of 1inch Network.

According to the press release, when transferring cryptocurrency, 1inch Wallet users can enter a recipient address of the form “Andy.wallet” or “Money.crypto.” The team said that such names “increase transaction security by thorough address verification and preventing sending errors.”

“We are pleased to collaborate with 1inch to make cryptocurrency operations, access to it and its purchase simpler and more intuitive,” said Sandy Carter, vice president of Unstoppable Domains.

In July 2022, the NFT-domain provider raised $65 million at a $1 billion valuation. Earlier, the startup was supported by Draper Associates of Tim Draper in a $4 million round.

Earlier in August, 1inch Network announced the integration with the Ethereum Virtual Machine on the Aurora platform.

Subsequently, the DeFi project announced the distribution of 300,000 OP tokens among its users.

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