After launching a PlayToEarn game in December last year, the 1inch Network has now launched a new product that is stablecoin optimal liquidity pools.
Pools Similar to Uniswap v3 Range Orders
The team behind the 1inch Network is attempting to constantly innovate to offer solutions that enable its users to make the most of their assets. The new feature, called Earn, is a grouping of liquidity pools expected to optimize stablecoin swaps.
1inch introduced its new ‘1inch Earn’ on February 3 that aims to offer liquidity providers (LPs) attractive annual percentage yields (APYs). The Decentralized Exchange (DEX) aggregator’s new product will take advantage of more efficient use of capital than in regular automated market maker (AMM) pools. At the time of launch, the protocol estimated the APY of 1inch Earn to be between 5% and 10%.
“The concept of 1inch Earn — previously referred to as Trading Strategies — was for the first time introduced in the 1inch Network Treasury proposal in September 2021,” explained the official Medium blog introducing the new concept product. “The launch of 1inch Earn is set to be a major step towards improving the sustainability of the entire network and stepping up its decentralization and community-led governance, while also working as a lucrative earning tool for users.”
As previously reported by BSC News, the 1inch Network launched the car racing game DeFi Racer on December 21 last year that was built by Nord Beaver Studios and has been implemented into the 1inch wallet for iOS. Furthermore, the DEX aggregator announced the game’s first tournament that ran from December 27, 2021, to January 3, where users stood a chance to win up to 1,500 INCH tokens, the native token of the 1inch ecosystem.
What is 1inch?
1inch is a decentralized exchange (DEX) aggregator that operates across blockchain networks like Ethereum, Binance Smart Chain (BSC), Optimism, and Polygon. It uses order books and liquidity from various DEXs to find the lowest prices on crypto-asset pairs and reroutes its user’s trades to these exchanges in a bid to ensure the platform provides the best prices to its users. 1inch was founded by Sergej Kunz and Anton Bukov back in 2019 during Ethereum’s hackathon in New York.
Find more about the 1inch here:
Website | Twitter | Documentation | Telegram | Medium |
Source : bsc.news
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