1inch joins Gravity Network as interchain transfer provider for Ethereum ecosystem
We are excited to announce a collaboration between the Gravity protocol and 1inch, a DEX aggregator focused on the most seamless user experience and best prices in the market. Gravity, a blockchain-agnostic and token-agnostic interoperability protocol, will connect 1inch to an infrastructure of new, non-Ethereum ecosystems. This close partnership, in addition to opening the door of the ETH-based DeFi ecosystem to Waves and Neutrino, enables the 1inch team to operate a Gravity node so that it can act as a reliable cross-chain transfer provider as soon as Gravity’s mainnet has been released.
Gravity was started within Waves ecosystem as a way of stimulating the adoption of interchain DeFi (#InDeFi). For Waves, as an ecosystem that aims to unite blockchain ecosystems and communities to establish an inter-chain DeFi infrastructure (#InDeFi), Gravity is a crucial core component required to build cross-chain systems.
The DeFi ecosystem of Ethereum is arguably the most active to date, and despite record gas prices as well as the highly competitive DeFi environment, projects built on top of Ethereum are gaining a tremendous number of users and revenue. In the past, numerous products and services built on the Ethereum blockchain have pivoted to the DeFi market.
Waves DeFi is currently represented mainly by the Neutrino and Waves.Exchange projects, and there is great synergy to be expected from the integration of Waves with Ethereum.
One of the innovative features of the #InDeFi trend that is gaining popularity is the creation of multifunctional gateways between staking PoS blockchain networks (e.g. Waves, Tesos, Cosmos, etc.) and the Ethereum network, by simply buying a token on a DEX (for example : 1inch, uniswap, curve, etc.) and holding it in Metamask or other wallet, users will be able to receive staking payments from systems external to Ethereum.
This cross-chain staking set up requires a trustless system of cross-chain oracles, presented by the most reliable and respected organizations in the community, and 1inch In the Ethereum ecosystem, one of the most recognized organizations is 1inch, a DEX Aggregator with the best prices on the market. 1inch was created on @ETHNewYork in 2019 has become a true trendsetter in the Ethereum ecosystem.
1inch’s continuous commitment to provide its users with diverse and lucrative options for swaps, paired with utmost efficiency, aligns greatly with the overall mission of Gravity. 1inch is Ethereum’s leading DEX aggregator and one of the most important projects in DeFi.
1inch’s powerful decentralized exchange aggregator sources liquidity from various exchanges to yield the best trade rate by splitting a single trade transaction across multiple DEX’s. Sergej Kunz, CEO and Anton Bukov, CTO, created the innovative structure for the groundbreaking project at the ETHGlobal hackathon in New York in 2019. In just over a year, 1inch has surpassed one billion USD in overall trade volume, an insanely rapid ascent to the top that is nearly unprecedented in the DeFi space and Ethereum ecosystem.
We believe that this strategic partnership with 1inch will lead to a significant advancement in the expansion of inter-chain DeFi and we look forward to our collaboration.
1inch is a decentralized exchange aggregator that sources liquidity from various exchanges and is capable of splitting a single trade transaction across multiple DEX’s. Smart contract technology empowers this aggregator to enable users to optimize and customize their trades. Launched in May 2019 by Sergej Kunz, CEO, and Anton Bukov, CTO, 1inch has surpassed $1B in overall volume in only 14 months. 1inch has already integrated support for top DEX’s including Uniswap, Kyber Network, Airswap, Oasis, Bancor, Balancer, Curve and many more.
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