1inch Network Launches on Arbitrum One
- The 1inch Aggregation Protocol and the 1inch Limit Order Protocol have been deployed on Arbitrum One.
- The extension will provide users with lower costs and higher transaction speeds.
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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.
- Coinbase’s Base blockchain was made available to the public on Wednesday, featuring over 100 dApps and services as part of its ecosystem.
- In order to show its capabilities and promote its mainnet partners, Base has also launched an event called “Onchain Summer” that will allow users to mint exclusive NFTs on the network.
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- Coinbase’s protocol security team and over 100 external security researchers were involved with testing the upcoming layer 2 Base blockchain over the past six months.
- The project said it has now completed four out of five criteria for Base’s mainnet launch, with the remaining one being to demonstrate “testnet stability”.
- Coinbase has launched the testnet for its own layer-2 network Base, which was designed to be low-cost, open-source, and provide a developer-friendly environment.
- The exchange also revealed it will be joining Optimism as a core developer on the open-source “OP Stack”, which Base was built on top of.