“1-inch Fusion Upgrade Takes Swaps to the Next Level: Improved Security and Higher Profitability!”
1-inch Swap Engine is known to be the decentralized trading and matching system. It is known for connecting its Defi users with liquidity and help in crypto deals.
A major upgrade is recently announced by Defi aggregator which they called fusion. As they are known to be the leading decentralized finance aggregator. They have added a mode called Fusion in their tactics. It is around the 1-inch Swap engine. They have finally aimed to provide cost-friendly, profitable, safe, and sound swaps for new as well as old investors.
Anyone who decides to pursue the Fusion mode is allowed to decide the price range as well as the time range and all of this without paying the network fees. This not only involves options for the investors but, the network is also improved. For example, users can now have updated staking contracts and other benefits.
This has been working as a decentralized trading system that lets the 1-inch Swap Engine connect with the Defi users along with providing liquidity for the crypto trades. All this is done through market makers.
When the co-founder of 1inch Network gave an interview, he got asked the reason behind this fusion upgrade.
He said:
“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.”
He was making rounds for going against the conventional centralized rule because this has helped the investors to perform the task with a secure and non-custodial approach. However, this is executed in a completely permissionless as well as trust process.
Their announcement says that this offers liquidity with a limitless opportunity which is completely based on the Dutch auction model.
Other perks of the fusion mode include allowing the investors to exchange the tokens on DEXes and this requires no network fees. Not only this but the users are allowed to execute the procedure whenever they want to.
The protection against any maximum extractable value is also provided. The MEV is the maximum value that can be extracted while the investment process. It is more than the standard block reward and gas fees.
Other than the fusion program they also introduced a 1-inch resolver incentive program which gives a refund on the gas as soon as the orders are filled in fusion mode. The last date for the deal is Dec.31, 2022.
The bridge attack will remain a threat to the Defi in the coming year. Theo Gauthier the founder of Toposware said:
Bridges have an “inherent vulnerability” because they rely on the security of the chains it connects to.
However, the remaining technologies available are ZKPS zero-knowledge-proofs. These technologies provide the data to be proved as well as be accurately verified. Further instructions say that all the procedures to provide the data must be delivered without revealing any further information. Nevertheless, the investors have good news ahead and they are enjoying the perks.
