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Polygon, formerly known as Matic, provides more features to 1inch Network, such as higher throughput and connections to massive liquidity pools.
1inch Network, a leading decentralised trading aggregator, has formally extended to Polygon, including more liquidity outlets on Curve, SushiSwap, QuickSwap, Aave V2 and Cometh.
1inch announced on Thursday that the exchange liquidity pools would be introduced immediately, with additional protocols to be phased in progressively over time. According to 1inch, Polygon is a “vital” infrastructure protocol for ensuring effective Ethereum scaling as the developer network moves to proof-of-stake.
Sergej Kunz, co-founder of 1inch Network, said that after 1inch incorporated Binance Smart Chain, consumer requests for Polygon swapping were “massive.”
“After the 1inch Network has expanded to Binance Smart Chain, there was a massive request from the community to make Polygon also available for swapping via 1inch. Currently, the 1inch Aggregation Protocol is already deployed on Polygon, while the 1inch Liquidity Protocol and the 1inch Governance Protocol are expected to expand over to Polygon in the upcoming few weeks.”
According to CoinGecko, Polygon is the 28th-largest cryptocurrency protocol in terms of market capitalisation, with a cumulative network size of $6.9 billion.
Kunz attributes the protocol’s efficient extension to the integration of Binance Smart Chain. Users of 1inch can now conveniently convert between Binance Smart Chain and Ethereum in search of faster transaction speeds and lower transaction fees.
Despite only recently integrating with Mdex, 1inch has rapidly established itself as a leading decentralised exchange aggregator. The release of 1inch Wallet earlier this month cemented its status as a leading entry point into decentralised finance.