Today I want to share with you people an extremely useful Dapp that I've been using multiple times in the past and that is 1inch Exchange, which allows you to trade Ethereum tokens across multiple available AMM's and DEX's in Ethereum blockchain.
In our strive to offer the best rates at the best speed, we are happy to bring you 1INCH version 2. The main component of the release is Pathfinder, an API containing a new discovery and routing algorithm, which finds the best possible paths for a token swap in the shortest possible time. In addition to splitting a swap across multiple supported liquidity protocols, the new Pathfinder algorithm utilizes multiple ‘market depths’ within the same protocol. The utilization of ‘market depths’ is a major improvement.
One of the big updates that they have done outside logo and visual change is improving the speed at which you find the best prices.
The new visual look makes it really easy to also understand for beginners what do they want to achieve, lowest possible gas fee through loops that the transactions go through or perhaps they want to have maximum possible return for their trade, which can significantly improve the overall price if great enough.
There also has been multiple audits already conducted on v2 of their smart contract, which pretty much give greenlight which is great thing to hear. Also they are currently working on new Tron Based AMM.
There 1INCH token is given to people as well via mooniswap ecosystem and thats something which value may see significant rise in future in my opinion. They already have the Gastoken which is used to cut costs on the exchange that can be profitable enteprise to trade when fees are very low and during times when gas fees peak you can sell it at much higher price.
The 1INCH token is a utility token that serves several network needs:
- to ensure a permissionless fashion of interaction with the protocols;
- to secure funds for further ecosystem development;
- to incentivize participation in potential governance of specific network functionalities;
- to stake for the network security.
If you are going to be giving the protocol a shot please consider signing under my link here https://1inch.exchange/#/r/0xd3092810BfC5CC9393068840450c1dBCd42038ae
