1inch Network Deploys Optimism Second-Layer Solution

The DeFi project 1inch Network has launched its platform on the Optimistic Ethereum mainnet (OΞ), promising fast and inexpensive transactions.

“Optimistic Ethereum is a very promising solution focused on scaling. The launch of 1inch on OΞ will contribute to a rapid increase in transaction speeds,” said Sergej Kunz, co-founder of 1inch Network.

In the initial phase, throughput will be limited to 0.6 transactions per second. However, during testing and as the infrastructure is optimised, this figure will increase.

Users of 1inch can use the Optimism Gateway to transfer assets to the second-layer network (L2). OΞ interacts with most popular wallets and other services, including MetaMask, WalletConnect, Etherscan and The Graph.

Deposits to the Optimistic mainnet are credited instantly. However, withdrawals from OΞ to Ethereum take seven days, due to the architecture of the L2 solution.

Earlier in July, a similar solution from Optimism was implemented by the leading Ethereum exchange Uniswap.

Subscribe to ForkLog news on VK!