The DeFi project 1inch Network has integrated the liquidity pools of the Opium Protocol platform for cryptocurrency derivatives into its decentralized application, according to representatives of the team who spoke to ForkLog.
“Crypto derivatives are a promising segment of the DeFi sector; collaboration with Opium will open new opportunities for 1inch users,” said Sergey Kunts, cofounder of the project.
The liquidity pools are connected to the 1inch app via the Opium API. The transactions are processed by the platform’s smart contract.
Liquidity providers of the derivative pools earn income from the fees paid by the buyers of the instruments. According to the developers, based on the figures at launch, the annual yield of the Turbo 1INCH pool on Ethereum is estimated at 8.9%.
In April 2022, developers integrated Transak, the fiat-on-ramp service for buying cryptocurrency, into the 1inch Wallet.