Crypto News: Well-known decentralized exchange (DEX) aggregator 1inch, has announced that it has implemented the 1inch Aggregation Protocol and the Limit Order Protocol on zkSync Era – a recently released version of Matter Labs scaling network on Ethereum. 1inch has thus established itself as one of the most well-known decentralized platforms to date by successfully porting its protocol to zkSync Era.
1inch is launched in the zkSync era
zkSync Era, a layer-2 scaling solution that competes with Polygon’s zkEVM, announced its first major DEX participation on Thursday. The 1inch exchange, currently valued at $418 million, will also make GemSwap, SpaceFi, SyncSwap and Mute protocols available on the zkSync Era network.
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While speaking about the recent launch, 1inch co-founder Sergej Kunz was quoted as saying:
zkSync Era is a promising L2 solution and we are pleased to be one of the first projects to be deployed on that network. As zkSync Era gains steam, 1inch users will benefit from faster and cheaper transactions.
From April 20, users of the 1inch platform can access the services of the new blockchain network.
More protocols to join the zkSync era
Released in March 2023, ZkSync Era leverages the power of zero-knowledge rollups to enable individuals to transact on Ethereum at faster rates and lower costs.
More than two hundred projects, such as Chainlink, SushiSwap, Uniswap, AaveAave, Argent, Gnosis, and Curve Finance showed interest in implementing on the blockchain when zkSync was still in the development phase. After the beta version of Era, more such DeFi protocols are expected to be launched on the network in the near future.
In the wake of this crypto news, the price of 1inch token is currently trading hands at $0.52, representing a gain of 0.10% in the past hour as opposed to a 2.50% decline over the last 24 o’clock.
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Pratik has been a crypto evangelist since 2016 and has experienced almost everything crypto has to offer. Be it the ICO boom, the bear markets of 2018, Bitcoin’s halving so far – he’s seen it all.
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