1inch Network updates liquidity-aggregator protocol for DEXs

The DeFi project 1inch Network has unveiled the fourth version of its liquidity-aggregator protocol for decentralized exchanges (DEXs). The 1inch Router v4 will lower transaction costs for users, ForkLog representatives said.

According to them, thanks to improvements, average transaction costs for a trade through the protocol will be 5.4% cheaper than executing it directly on a DEX.

In the new version, separate routers have also been added for Uniswap v3, Clipper, and an RFQ (request-for-quote) option for 1inch Limit Order Protocol.

Another important improvement is support for the permits feature under the Dai standard. The solution enables swaps without a separate transaction approval and will be available for operations with Dai and several other tokens.

Overall the feature will support nine tokens on the Ethereum blockchain, the same number on Binance Smart Chain, and one token on the Polygon network.

In March, the 1inch team launched the third version of the liquidity-aggregator protocol.

In April, the project presented the 1inch Network ecosystem, which includes the 1inch Aggregation Protocol and the 1inch Liquidity Protocol. It is governed by a decentralized autonomous organization that allows users to vote on key protocol parameters and participate in governing the network.

In June, developers unveiled an updated voting system for 1inch Network Governance.