1inch Network “Launches” Router V5 Version
1inch Network quickly released a new update to the router, providing more outstanding features for the user experience, capitalizing on the boom of DeFi’s return.
Users’ gas costs for transactions, according to 1inch Network, will be significantly lower than their previous offerings in the DEX segment, making swap operations on the Ethereum network more profitable for users.
1inch estimates that swaps in router V5 (Router V5) will save about 5% more gas than the previous version and 10% more than the second best platforms on the DEX market. Routing is essentially the process of automatically locating the best available rate for any given trading pair across multiple exchanges.
The v5 router now has enhanced new interaction logic, an improved smart contract error handling system, and is unified with the limit ordering protocol 1 inch v3. The V5 router prioritizes security as well, and has been tested by a number of well-known industry projects, including Consensys, OpenZeppelin, and ABDK Consulting.
According to Sergej Kunz, co-founder of 1inch Network:
“It’s been almost a year since we released the 1inch v4 router, and in that time, we’ve accumulated enough improvements to move on to v5. We’ve further optimized gas costs, so our users will now save at least 8-14% when compared to any other DeFi product.”
Despite the fact that the FTX crisis is causing widespread market losses, the event unintentionally “resurrected” the DeFi wave, which had been dormant in recent years. The weekly trading volume on DEX exchanges has reached 32 billion USD, and 1inch Network has become one of the most benefited companies.
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