The 1inch Network announced it has deployed its 1inch Aggregation Protocol and Limit Order Protocol on Arbitrum One. The Layer 2 Etehreum scaling solution created by Offchain Labs will provide 1inch users with lower transactions costs and higher speeds, the company said.
One of the biggest benefits offered by Arbitrum One is its fast confirmation times, which provide a near-instant user experience. Users will be able to deposit funds to Arbitrum through its native bridge, as well as other fast bridging solutions provided by third parties.
According to a press release published on 22 September, the protocols that will be immediately available via 1inch on Arbitrum include Uniswap, Balancer, 1inch Limit Order Protocol, DODO, SushiSwap, Swapr, and WETH.
Anton Bukov, the Co-Founder of the 1inch Network, said that Arbitrum’s advantages will make the protocol attractive to 1inch users, as it will allow them to get more diversity when it comes to cheap transactions and withdrawal options.
“The Arbitrum One ecosystem is vibrant with many excellent and high volume DEXes, and we’re very excited to have 1inch join as a DEX aggregator,” says Steven Goldfeder, Offchain Labs CEO.