1inch Network expands to Avalanche and Gnosis Chain

1inch Network expands to Avalanche and Gnosis Chain

The 1inch Network introduced on Wednesday its strategies to release the 1inch Aggregation Protocol on Avalanche and the 1inch Limit Order Protocol on Gnosis Chain, previously referred to as the xDai Chain. In a declaration shown to Cointelegraph, the 1inch Network revealed its objective to additional increase its capacities within the decentralized money, or DeFi, sector.

‚Äú1inch‚Äôs main goal is to offer users the best deals across the blockchain space,‚ÄĚ claimed¬†Sergej Kunz, 1inch Network founder, including that the development to Avalanche and Gnosis Chain “will offer 1inch users more options for cheap and fast transactions.‚ÄĚ

Avalanche (AVAX) is a quickly growing cross-chain network whose TVL, according to DeFi Llama, stood at $10.4 billion at the time of publication. However, the AVAX token has been subject to vulnerability as part of the Multichain hack this week.

According to the statement, a number of protocols will be immediately available via 1inch on Avalanche, including 1inch Limit Order Protocol, Aave, Baguette, Canary Exchange, Pangolin, SushiSwap and Trader Joe.

Related: 1inch Network concludes $175M Series B led by Amber Group

Gnosis Chain (GNO) had a TVL of $22 million at the time of publication, according to DeFi Llama. The largest DEX on Gnosis Chain is Curve v1, and other protocols immediately available on Gnosis include the 1inch Limit Order Protocol, Elk Finance, Honeyswap, Levinswap and SushiSwap.

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