1inch upgrades to offer gasless custom swaps with Fusion
Quick Take
- DEX aggregator 1inch released a protocol upgrade called Fusion.
- The upgrade offers DeFi users the ability to place custom swap orders without any gas fees.
1inch, the largest decentralized exchange aggregator by daily volume, carried out a protocol upgrade called Fusion that claims to give DeFi users the ability to place custom swap orders at specific prices without having to pay gas fees. The upgrade also claims to protect users against maximum extractable value (MEV), which refers to a common type of front-running prevalent on blockchains.
“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,” 1inch Network co-founder Sergej Kunz said.
1inch is a project that lets traders access liquidity from multiple DEXs in order to swap tokens from within a single platform. It leads in the DEX aggregation niche, processing over $1 billion in trading volume within the past week alone, ahead of competitors like Paraswap, Matcha and Cowswap.
The Fusion upgrade relates to 1inch's Swap Engine, a mechanism that connects users with professional market makers that serve liquidity requirements.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
