1inch, a liquidity and decentralized exchange aggregator, recently unveiled version 3 of the 1inch Aggregation Protocol, making it the fastest and most advanced DEX aggregation solution in the market.

The main improvement in the protocol’s new version addresses the issue of high transaction fees on Ethereum. Now, users have the opportunity to substantially save on gas fees thanks to assembly code optimization.

The feature applies to swaps using Uniswap v2 and its forks, including Sushiswap, LuaSwap, etc. While previously, swaps on Uniswap v2 were cheaper than on 1inch, now the picture is quite the opposite. For instance, swapping ETH for DAI on 1inch requires 10.3% less gas than the same trade on Uniswap and 4.9% less than on 0x.

Thanks to this improvement in the 1inch Aggregation Protocol v3, it is now cheaper to swap tokens on 1inch than on Uniswap or other popular protocols. And the protocol operates in a flexible way: if a swap deal turns out to be more efficient with 1inch’s traditional split across several paths, the latter is used.

Meanwhile, 1inch users can now take advantage of more liquidity than ever before. As of mid-March 2021, the total value of liquidity available on 1inch was $16.5 bln for Ethereum and another $2.3 bln for Binance Smart Chain.

Actually, the recent deployment of the 1INCH token on Binance Smart Chain (BSC), which made the 1inch Aggregation Protocol and 1inch Liquidity Protocol available to BSC users, came as a major step towards blockchain interoperability, one of the space’s major issues.

1INCH is used on BSC for a bridge between the Binance and Ethereum networks. When a user sends 1INCH tokens to BSC, they will be locked in Binance Bridge, and a corresponding value in 1INCH tokens on Binance will consequently be unlocked.

As a result, 1inch users get access to a range of Binance-based DEXes and lending protocols, including PancakeSwap, BurgerSwap, StreetSwap, Venus, StableSwap, JulSwap and BakerySwap.

In addition, 1inch continues to run yield farming programs in collaboration with the hottest DeFi projects, the space’s potential “blue chips.” The most recent programs with VSP from Vesper, OPIUM from the Opium Network, LDO from Lido DAO and TORN from Tornado have been extremely popular with users and saw major boosts on the projects’ liquidity.

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Source: https://www.cryptocompare.com/email-updates/daily/2021/mar/17/