SingularityDAO DynaSets — 1inch Network Integration
Greeting Singularitarians,
The first DynaSets go live on December 20th. Learn about how to get involved here.
Today, as part of our Advent Event and series of blogs deep diving DynaSet tech, we are happy to share some details regarding our implementation of the 1inch Network.
The 1inch Network unites decentralized protocols whose synergy enables the most lucrative, fastest and protected operations in the DeFi space. The core protocol of 1inch is a decentralized exchange (DEX) aggregator which scours the cryptocurrency market to find the best rates and lowest fees for your trades.
Why did SingularityDAO choose 1inch?
The implementation of 1inch in the back-end functionality of our DynaSets helps elevate our Alpha to new highs. When our DAM (Dynamic Asset Manager) tries to execute a trade, we employ the 1inch Aggregation Protocol to find the most efficient and cost effective routes to fulfil those trades. 1inch is not only able to assist us in finding the cheapest sources of liquidity, but it can also divide a single trade into multiple smaller transactions and execute swaps across various liquidity pools simultaneously, allowing us to complete transactions without exceeding certain slippage thresholds, or creating unnecessary price fluctuations within the market. All of this while greatly increasing fee efficiency and speed of trade completion compared to executing multiple trades manually.
Adding liquidity to DynaSets will also be affected as we are able to use similar functionality in the SingularityDAO Forge, meaning that we will be able to drastically lower fees required to enter DynaSets. This will directly affect both you the end user, and the DynaSet fee overhead.
1inch’s aggregation protocol is so advanced, that due to this integration and the amazing help of the 1inch team, we have been able to write layers of smart contracts that can interact directly with their back end protocols allowing us to fully automate all of these trade and swap executions.
When interacting with our upcoming DynaSets on the SingularityDAO Platform all of this will be more or less invisible to the eye but it allows our AI and our trading team to operate with such speed and efficiency that trades will be able to complete within a moment of our algorithms. Thus giving a signal to do so and in such a way that we can make multiple millions of dollar trades without running into slippage, gas fee, latency, liquidity, volume, or time issues.
A look to the Future
Based on the great relationship we have already formed with 1inch, we are currently in talks to further extend our relationship into a possible partnership. Hopefully in the future we will have more news to share regarding this.
All in all, we truly couldn’t be happier with the solutions that 1inch provides us, the efficacy of their team in aiding us during the implementation of all of these features, and the effect this will all have on the alpha-generating performance of DynaSets.
Stay tuned for much, much more in the coming days and weeks!
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