1inch to deploy Mooniswap and Pathfinder on NEAR blockchain

The liquidity aggregator from decentralized exchanges, 1inch, has formed a partnership with the NEAR project. The agreement envisages deploying in 2021 in this network the Mooniswap automated market maker (AMM) and Pathfinder, a tool for locating the best swap opportunities for tokens. ForkLog has learned from 1inch representatives.

Mooniswap liquidity pools on the NEAR and Ethereum networks will be independent of one another. Users will be able to use the NEAR Rainbow Bridge to transfer Ethereum tokens to the new blockchain.

NEAR is a smart-contract platform built on a Proof-of-Stake basis. The system employs an innovative consensus mechanism called Nightshade with sharding, which in theory removes any throughput limits for the network. The NEAR protocol provides a unified environment shared by all decentralized applications, analogous to Ethereum’s current architecture.

“The existing scaling technology on NEAR will allow the team to experiment with sharding and be ready for the arrival of Ethereum 2.0,” said Sergej Kunz, co-founder and CEO of 1inch, in a press release.

Mooniswap reduced arbitrageurs’ profit margin by instituting a five-minute delay in price determination. This forces arbitrageurs to trade at less favorable prices. This adds value to liquidity providers. Arbitrageurs receive only a portion of the slippage; the rest is directed to the overall liquidity-provider pool.

1inch says that Mooniswap yields liquidity providers 50-200% more revenue than Uniswap v2.

Analysts at Messari predicted that 2021 would be the year of the ‘platform wars’ as DeFi ecosystems emerge on rival blockchains.

The NEAR Protocol mainnet launched in October 2020.

Earlier, Vitalik Buterin, the creator of the second-largest cryptocurrency, expressed concerns that NEAR could pose a serious threat to his creation.

The launch of Ethereum 2.0 is scheduled for December 1. By November 24, users deposited the required 524,288 ETH into the deposit contract.

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