The 1inch liquidity aggregator from decentralized exchanges updated the 1inch Aggregation Protocol. The update will save users money on transactions, ForkLog representatives said.
In version v3, transaction fees are more than 10% cheaper than on Uniswap. The difference versus the Ethereum-based decentralized exchange protocol 0x will exceed 3.5%.
Data: 1inch.
“The decision to switch between the two protocol versions remains with the user, as this requires new approvals for each asset […] However, the default version is now set to v3,” said 1inch.
The developers said they would continue to support the previous version of the 1inch Aggregation Protocol in the near future.
Earlier, the project announced the update to the 1inch Liquidity Protocol to improve governance procedures and launch a new liquidity mining program.
The 1inch team also launched the governance token 1INCH on the Binance Smart Chain.
Earlier in March 2021, the DeFi project entered into a partnership with analytics company Bitquery to add next-generation trading tools.
Subscribe to ForkLog’s YouTube!