Updates, News, and Integrations
1inch Network gladly presents the May digest consisting of significant updates and news.
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On the 19th of May, 1inch commemorated its fifth anniversary, marking a remarkable transformation from a hackathon endeavor to a prominent entity in the Web3 domain.
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The launch of 1inch at the ETHGlobal hackathon in New York City initiated a journey that positioned it as a robust and pioneering project in the Web3 arena, reflecting resilience and impact reminiscent of Bruce Lee's legendary martial arts technique. Despite past achievements, the future promises more milestones.
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In May, the unveiling of 1inch Fusion 2.0 introduced substantial cost savings for users engaging in crypto swaps.
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Over the past 18 months, 1inch Fusion has empowered users to exchange tokens across diverse networks without incurring gas fees, facilitating liquidity access throughout the crypto landscape, and shielding against maximal extractable value (MEV). This groundbreaking technology delegates all swap executions to resolvers, accredited traders competing for swap execution rights to offer users the most competitive rates. Notably, in 1inch Fusion 2.0, order settlements are 10%-35% more economical than the previous iteration, with an approximate 10% higher efficiency compared to rival platforms.
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Additionally, in May, the initial recipients received virtual 1inch Cards developed by Crypto Life, enabling them to leverage both traditional finance and decentralized finance (DeFi).
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Notable integrations in May included collaborations with HOT Protocol, Aspis, and Shido.
Events
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In a fireside chat on 'Tokenized Money: Is There A Developing Consensus?' at Dubai FinTech Summit on May 7, 1inch co-founder Anton Bukov participated.
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During the Incrypted stream early in May, 1inch co-founders Sergej Kunz and Anton Bukov delved into discussions about 1inch 2.0, cross-network swaps, and potential futures trading opportunities.
Key Stats
Total: - $489.2B in volume - 93.4M swaps - 15.7M wallets
1inch Fusion: - $26.7B in volume - 3M swaps - 852.8K wallets
Ethereum: - $375B in volume - 18.5M swaps - 3.2M wallets
BNB Chain: - $45.6B in volume - 27.1M swaps - 5.5M wallets
Polygon: - $26.6B in volume - 23.6M swaps - 3M wallets
Optimism: - $6.4B in volume - 3M swaps - 699.1K wallets
Base: - $3.6B in volume - 3.9M swaps - 728.9K wallets
Avalanche: - $8B in volume - 2.9M swaps - 664.1K wallets
Fantom: - $1.5B in volume - 1.5M swaps - 162K wallets
Arbitrum: - $21.9B in volume - 9.4M swaps - 1.7M wallets
Gnosis: - $668.4M in volume - 2.4M swaps - 96.2K wallets
Stay tuned for exciting developments and announcements from 1inch!
