Categories: DeFi

1Inch Networks Now Launches Its Services On Base

Key Points:

1inch integrates with Ethereum Layer-2 Base, supported by Coinbase.
It has successfully deployed both the Aggregation Protocol and the Limit Order Protocol on Base.
Base gains momentum, attracting 100,000+ daily users and key exchange integrations.

Decentralized exchange aggregator 1inch has taken a significant step by introducing its services on Base, a Layer-2 Ethereum network developed under the auspices of Coinbase.

In a stride towards expanding its DeFi portfolio, the 1inch Network has seamlessly deployed both the 1inch Aggregation Protocol and the 1inch Limit Order Protocol on Base.

Base, functioning as an Ethereum Layer-2 solution, holds the promise of enhanced security, stability, and scalability for dApps. It operates within an EVM ecosystem, boasting reduced operational costs compared to traditional setups.

Coinbase’s backing offers additional advantages to projects utilizing Base, including potential integrations with Coinbase products and seamless fiat onramps, providing a gateway to users within the Coinbase ecosystem.

Since its public launch on August 9, the Base mainnet has exhibited remarkable traction, surpassing 100,000 daily active users and nearing transaction volumes comparable to established scaling solutions like Optimism and Arbitrum.

This strategic expansion empowers users with a fresh Layer-2 alternative, characterized by faster transaction speeds and reduced fees, while simultaneously augmenting liquidity reserves.

One of the highlights of this venture is the unveiling of the 1inch limit order protocol on Base. This protocol enables investors to set precise buy and sell orders, and it harnesses pricing data from 15 diverse, decentralized exchanges on the Layer-2 network.

Notably, Uniswap, Balancer, and Sushiswap, integral components of the DeFi ecosystem, have all made their home on Base since its mainnet’s inauguration on August 9.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.