1inch has presented the August digest, including major news and updates.
Updates, News and Integrations
Recently, 1inch Fusion demonstrated its superiority in gas efficiency, using up to 16% less gas than competitors. Tests revealed that 1inch outperforms competitors in various scenarios, including limit orders, where gas savings reached up to 50%. Additionally, the 1inch Router proved more efficient, requiring up to 10% less gas for predefined swap routes. The latest Messari report showcases growth for 1inch in Q2 '24. Ethereum volume surged by 273%, daily trading volume increased by 12%, and the number of transactions jumped by 59%. Activity on the Base network skyrocketed with a 280% increase. Meanwhile, Nicegram, the advanced Telegram-based messenger, has integrated the 1inch Swap API to ensure the best swap rates. The Nicegram x 1inch contest offers a chance to win $1,000 USDC and other prizes, with participation ending on September 27. 1inch has also launched a new post series on cross-chain swaps, exploring the role of interoperability in blockchain communication and how the intent-based approach simplifies swaps.
Events
Two impactful X Spaces discussions recently took place, highlighting key developments in DeFi. The first event, hosted by TrustedVolumes, explored the next generation of DeFi, while the second, organized by Cointelegraph, examined the future of primary markets. Both events featured insights from top Web3 professionals, including 1inch experts. Additionally, the full video of Sergej Kunz’s presentation on the future of scalability with restaking at Infra Day in Brussels is now available on YouTube.
Key Stats
TOTAL: $524.2B in volume, 107.1M swaps, 17.4M wallets 1inch Fusion: $31.6B in volume, 3.5M swaps, 937.5K wallets Ethereum: $400B in volume, 20.8M swaps, 3.6M wallets BNB Chain: $46.8B in volume, 30.3M swaps, 6M wallets Polygon: $27.2B in volume, 24.7M swaps, 3.2M wallets Arbitrum: $26.6B in volume, 11.4M swaps, 1.9M wallets Optimism: $7.1B in volume, 3.5M swaps, 783.8K wallets Base: $5.6B in volume, 9.2M swaps, 1M wallets Avalanche: $8.5B in volume, 3.2M swaps, 699.6K wallets Fantom: $1.5B in volume, 1.6M swaps, 170.7K wallets Gnosis: $789.8M in volume, 2.5M swaps, 108.8K wallets
1inch continues to showcase impressive results and make significant improvements in the realm of crypto swaps and DeFi. Stay tuned for more updates and announcements.
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