The team behind the 1inch liquidity aggregator across decentralized exchanges launched the 1inch Aggregation Protocol on the Polygon network (formerly Matic), a layer-2 solution for the Ethereum blockchain. ForkLog reported, according to project representatives.
In the initial phase, the expansion will give users access to several liquidity sources in the network, including Curve, SushiSwap, QuickSwap, Aave V2 and Cometh.
To simplify cross-chain asset transfers, Polygon provides a ‘bridge’ to Ethereum and a dedicated wallet.
According to the statement, the layer-2 solution has a throughput of about 7,000 TPS. Unlike the mainnet, Polygon uses a Proof-of-Stake (PoS) consensus algorithm, whereby transactions are confirmed by validators.
“After we expanded to Binance Smart Chain, there was a request from the community to make Polygon also accessible for swaps via 1inch,” explained the project’s co-founder Sergey Kunts.
He noted that the the 1inch Network ecosystem protocols — the 1inch Liquidity Protocol and the 1inch Governance Protocol — will be deployed on Polygon in the coming weeks.
In March, the update to the 1inch Aggregation Protocol took place, which allowed users to save on fees.
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