The decentralized exchange Nos has rebranded to 01, marking its integration into the N1 ecosystem. This move revives the legacy of a former popular perp DEX on Solana.
History and Significance
Nos has adopted the new name 01, which once represented a popular perp DEX on the Solana platform before its closure following the FTX collapse in 2022. The renaming of Nos aims to revive the reputation and interest in the 01 brand within N1’s mission to grow an ecosystem of scalable dapps.
Support and Infrastructure
The N1 team, including veterans from the original 01 project, sees this as a natural evolution. It is backed by investors like Multicoin Capital, Founders Fund, and Arthur Hayes. The new 01 is built on Amber's infrastructure with a target mainnet launch in March, continuing to incorporate advanced trading practices on N1.
Advantages and Prospects
The revamped 01 exchange will maintain a close relationship with N1, whose L1 blockchain is designed to eliminate compute and latency constraints for dapps. The rebrand allows 01 to tap into N1’s ultra-low latency and high-throughput capabilities, furthering the advancement of perp DEX solutions under new conditions.
The synergy of Nos with N1 through its rebranding to 01 provides an opportunity to combine resources and expertise in support of innovative dapps and trading applications on Solana, enhancing the attractiveness of the N1 ecosystem.
