The DeFi project 1inch announced a partnership with the decentralized domain registrar Unstoppable Domains. ForkLog said representatives of the project.<\/p>\n
This step will allow 1inch Wallet users to conduct transactions in a more convenient way by replacing complex addresses with domain names. The latter are non-fungible tokens (NFTs).<\/p>\n
\n\u201cUser experience, security and identity issues continue to hinder mass adoption of Web3<\/a>. The partnership with Unstoppable opens opportunities to overcome these barriers,\u201d said Sergey Kunz, co-founder of 1inch Network.<\/p>\n<\/blockquote>\n
According to the press release, when transferring cryptocurrency, 1inch Wallet users can enter a recipient address of the form \u201cAndy.wallet\u201d or \u201cMoney.crypto.\u201d The team said that such names \u201cincrease transaction security by thorough address verification and preventing sending errors.\u201d<\/p>\n
\n\u201cWe are pleased to collaborate with 1inch to make cryptocurrency operations, access to it and its purchase simpler and more intuitive,\u201d said Sandy Carter, vice president of Unstoppable Domains.<\/p>\n<\/blockquote>\n
In July 2022, the NFT-domain provider raised $65 million<\/a> at a $1 billion valuation. Earlier, the startup was supported by Draper Associates of Tim Draper in a $4 million round.<\/p>\n
Earlier in August, 1inch Network announced the integration with the Ethereum Virtual Machine on the Aurora platform<\/a>.<\/p>\n
Subsequently, the DeFi project announced the distribution of 300,000 OP tokens<\/a> among its users.<\/p>\n