The latest integration allows wallet holders to utilize 1Inch dAPP’s DEX aggregation functionality for the best deals.
Milestone for 1Inch as BitPay Benefits
BitPay has formally announced integration with 1Inch Network for smooth and easy trading between the two platforms. The move has been built as mutually beneficial, allowing 1Inch to flex its capabilities and BitPay to offer its users a better service.
The announcement came on August 31st via Business Wire. BitPay, like many organizations in its position, must be conscious of its duty to its users, according to 1inch Network Co-Founder Sergej Kunz.
“As DeFi services gradually progress towards mass adoption, it is important to offer access to the 1Inch DEX aggregation to as many users as possible,” Sergej Kunz told Business Wire. “And the BitPay Wallet app is a perfect opportunity for us to reach out to new audiences who, in turn, will benefit from the 1Inch attractive rates and user-friendly swap process.”
Kunz will be keen to highlight the necessity of 1Inch’s services to users throughout Decentralized Finance (DeFi), and this integration is an opportunity for him to attract prospective interest.
1Inch Cite User Base Importance
In a recent blog post, 1Inch underlined increasing their user base as the most important metric. They claim it is a direct reflection of a dAPP’s popularity with users and its success. User base is touted as far more important than trading volume due to volume being vulnerable to manipulations.
Projects often point to trading volume to show popularity, although a small number of accounts usually generates the brunt of volume.
1Inch claim to have already clinched 600,000 users, making it only second to UniSwap in the segment. The strong DeFi performance this year has come as a result of the services offered by the likes of UniSwap and 1Inch.
“Decentralized exchanges and aggregators drive growth.” Sergej Kunz explained in the blog post. This latest integration with BitPay is likely to give 1Inch exactly what it is after; exposure and the opportunity to show how it can benefit users.
We look forward to seeing how this latest move turns out for 1Inch and indeed BitPay, who have been quick to display news of the partnership to their users.
What is 1inch?
1inch is a Decentralized Exchange (DEX) and aggregator that provides the best rates by discovering the most efficient swapping routes across all leading DEXes. 1inch operates on both the Ethereum and Binance Smart Chain. Trading on 1inch utilizes liquidity across multiple exchanges to reduce slippage and provide users the best price available.
For more information about 1Inch, see the following official links:
Source : bsc.news
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