The DeFi project 1inch Network has rolled out liquidity-aggregation protocols from decentralized exchanges and limit-order operations on the Avalanche and Gnosis Chain networks (formerly xDai Chain). ForkLog was told by representatives of the team.
“The main task of 1inch is to offer users the best deals in the blockchain space. To achieve this, our protocols are continually expanding to new networks, and the expansion to Avalanche and Gnosis Chain will provide users of 1inch with more opportunities for cheap and fast transactions,” said Sergey Kunts, co-founder of 1inch Network.
1inch noted that Avalanche has recently shown notable growth. The total value locked (TVL) in DeFi applications on that platform exceeds $10.4 billion, according to DeFi Llama. At its peak in December 2021, the figure reached $13.79 billion.
According to the press release, in the same month the average daily number of transactions on Avalanche was 673,223. The network counted around 98,000 active addresses.
1inch users on Avalanche gained access to a range of protocols, including Aave v2, Curve v1/Curve v2, Pangolin and Trader Joe.
As of writing, TVL on Gnosis Chain stood at $943.6 million, according to Blockscout. On average the network processes 142,178 transactions per day.
Among the protocols available to 1inch users on Gnosis Chain are Curve v1, SushiSwap and others.
The 1inch Limit Order Protocol v2 is available on both networks.
Back in December 2021, 1inch introduced the second version protocol for limit-order operations.
In September, the project team integrated the second-layer Arbitrum solution.
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