1inch Network Expands to zkSync Era to Provide Deeper Liquidity and Faster Transactions
The 1inch Network, one of the most popular DEX aggregators in the DeFi space, has announced its expansion to zkSync Era, a recently launched L2 solution for scaling Ethereum. The move is expected to provide deeper liquidity to zkSync Era, offer greater transparency, and empower users to execute faster trades at better rates and with less slippage.
With this deployment, 1inch users will benefit from faster and cheaper transactions, and access to yet deeper liquidity. In the longer run, they will also enjoy higher transaction speeds and lower fees. Sergej Kunz, the 1inch Network co-founder, said, “zkSync Era is a very promising L2 solution, and we are glad to be among the first projects to deploy on that network.”
Alex Gluchowski, CEO and co-founder of Matter Labs, the team behind zkSync, expressed his excitement about the deployment of 1inch on zkSync Era. He stated, “As the largest DEX aggregator by on-chain volume, 1inch will provide deeper liquidity to zkSync Era while offering DeFi users greater transparency and empowering them to execute faster trades at better rates and with less slippage on their transactions.”
Launched in late March 2023, zkSync Era is powered by the Zero-knowledge rollups (ZK-rollups) technology and aims to increase Ethereum’s throughput while preserving values such as freedom, self-sovereignty, and decentralization. Its ultimate goal is hyper scalability – the ability to process an unlimited number of transactions without any major impact on security or costs.
Several protocols are already available via 1inch on zkSync Era, including GemSwap, SpaceFi, SyncSwap, Mute, and Maverick. With the deployment of 1inch on the blockchain, there is an expectation that even greater adoption and usage of zkSync Era will be seen, as DeFi continues to be a driving force behind its explosive growth.
- 1inch Trolls Arbitrum Foundation With $900,000 Lamborghini Purchase Proposal Using ARB Tokens
- Arbitrum Provides 40 Million ARB Tokens As Loan To Market Makers