The 1inch Network just launched Fusion, a new and improved version of the 1inch Swap Engine. This development combines existing technology with new capabilities to make swapping more secure and profitable. With Fusion, users can enjoy a more streamlined, cost-effective experience when swapping tokens and coins on the 1inch Network. Additionally, Fusion’s advanced security measures provide users with peace of mind knowing their funds are secure. The 1inch Network is proud to be offering this innovative solution to its users, and looks forward to continuing to make strides in the world of decentralized finance.
The 1inch Swap Engine has recently upgraded its services to include Fusion mode, a powerful tool for DeFi users. Fusion mode allows for orders to be placed with a price and time range without having to pay any network fees. The upgrade also includes important security updates, as well as updates to the staking contracts and tokenomics. This upgrade to the 1inch Swap Engine will provide users with a more secure and cost-effective DeFi experience.
This is a huge step forward for the entire DeFi space, Fusion makes swaps on 1inch dramatically more cost efficient, as users won’t have to pay network fees, plus, an extra layer of security is added, protecting users from sandwich attacks. Our aim is to make users’ DeFi experience as smooth as never before. Thanks to the 1inch Swap Engine and Fusion mode, now, everyone gets incredible UX with a high degree of security.
Sergej Kunz, 1inch Network co-founder.
1inch Swap Engine
The 1inch Swap Engine is a revolutionary new protocol that utilizes existing technology to provide DeFi users with unprecedented access to liquidity. By combining the 1inch Limit Order Protocol and the 1inch Aggregation Protocol, the Swap Engine allows users to access both centralized and decentralized liquidity sources, granting them access to a wide range of liquidity options. With its superior technology, the 1inch Swap Engine offers the most comprehensive and accessible liquidity options on the market, allowing users to access practically limitless amounts of liquidity in the crypto market.
The 1inch Swap Engine is a revolutionary new approach to swap execution on decentralized exchanges. It uses the Dutch auction model and is based on market rates, taking into account the price impact of swaps. This has allowed for a completely new way of order matching on decentralized exchanges, allowing users to swap tokens in a more efficient and cost-effective way. This has revolutionized the way people trade on decentralized exchanges, and is a major advancement in the industry.
Orders are filled by resolvers — professional market makers who pay applicable gas fees, while profiting from arbitrage trading. To become resolvers, they will need to stake 1INCH tokens and deposit a sufficient balance of 1INCH into the “feebank” contract. At the initial stages, resolvers won’t pay any fees, but, later, the 1inch DAO might introduce a fee for resolvers. Top five resolvers — based on the amount and period of 1INCH staking — will have priority for filling orders.
Resolvers are an integral part of the 1inch token protocol, as they are responsible for filling orders and profiting from arbitrage trading. In order to become resolvers, they will need to stake 1INCH tokens and deposit a sufficient balance of 1INCH into the “feebank” contract. Initially, 1INCH DAO will not be charging any fees to resolvers, but this might change in the future. The top five resolvers, determined by the amount and period of their 1INCH staking, will be given priority for filling orders.
1inch Fusion mode
Fusion Mode, powered by the 1inch Swap Engine, allows users to trade tokens across DEXes without incurring network fees and get the best exchange rates.
In Fusion mode, a user can choose between three options:
Fast — The Fast option allows users to accept a lower rate in order to have their swap executed quickly.
Fair —The Fair option offers users a slightly higher starting rate than the market price, with the potential for the rate to become more favourable during the transaction. This option comes with a longer order execution time.
Auction — The Auction option allows users to wait up to 10 minutes for the best rate on their trade, starting at 1% better than the market. It is especially beneficial for large asset swaps and arbitrage opportunities.
More about 1inch Network
1inch Network is a decentralized exchange aggregator that allows users to compare and swap across multiple platforms, such as Uniswap, Kyber, Bancor, and Balancer. It is designed to help users maximize their trading profits by finding the best prices across multiple DEXes. 1inch also features a DEX-agnostic liquidity protocol and order splitting to maximize liquidity and minimize slippage. The platform charges a 0.30% fee for using its services and provides a simple, user-friendly interface to access the decentralized finance (DeFi) ecosystem. The platform is secure, reliable, and designed to provide users with a seamless trading experience.
