1inch Network integrates the Fantom blockchain

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The DeFi project 1inch Network has rolled out liquidity-aggregation protocols from decentralized exchanges and limit-order operations on the Fantom network, ForkLog has learned from team members.

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“Fantom is a popular network, and recently it has shown notable results. Deploying 1inch’s protocols on this blockchain will offer users greater efficiency and flexibility, and will provide access to even deeper liquidity,” said co-founder Sergey Kunts.

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1inch noted that the Lachesis consensus mechanism used by Fantom provides high transaction speeds, low on-network fees, and deterministic finality. At the same time, the blockchain remains inclusive, decentralised and open-source.

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1inch users gained access to a range of Fantom-based protocols, including Solidly, Curve, SushiSwap, Synapse and others.

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According to DeFi Llama, Fantom ranks fourth in the value of assets locked in smart contracts, at $4.62 billion. The value denominated in FTM amounts to 3.86 billion, which is below the March peak of 4.67 billion.

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Earlier in March 2022, the liquidity-aggregation platform by decentralized exchanges 1inch introduced the 1inch Wallet app for Android-powered mobile devices.

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