• DEX aggregator 1inch announced expansion across the Coinbase-backed layer-2 blockchain, Base.
• 1inch users will get access to another layer-2 solution with lower transaction costs and higher speeds, as well as some extra liquidity.
• With the increase in popularity, driven largely by the hype around the social app Friend.tech, the daily transactions on Base even briefly surpassed that of Ethereum.
1inch Partners with Coinbase Incubated Layer-2 Blockchain
DEX Aggregator 1inch has announced an expansion across Coinbase’s incubated layer-2 blockchain, Base. This partnership will allow users to benefit from faster and more affordable transactions via a new layer-2 solution along with additional liquidity resources.
Advantages of Expansion for 1inch Users
The deployment of the 1inch Aggregation Protocol and Limit Order Protocol on Base will provide users access to a range of benefits such as lower transaction costs and higher speeds. In addition, projects within the ecosystem would be able to take advantage of Coinbase product integrations and convenient fiat onramps as well.
Increased Popularity of Layer 2 Solution
Since making its mainnet available for public use, Base has managed to attract over $100k daily active users due to increased hype surrounding a social app ‘Friend’. The network saw an impressive surge in usage which resulted in its daily transactions briefly surpassing that of Ethereum’s at one point.
Protocols Available on Layer 2 Ethereum Scaling Solution
Alongside Uniswap v3, Balancer v2, SushiSwap v3, Rocket Swap etc., 1inch Limit Order Protocol also comes integrated within this layer 2 Ethereum scaling solution. By deploying these protocols on Base, users don’t have to worry about scalability or cost issues associated with high gas fees while using decentralized exchanges (DEX).
Conclusion
1inch is now available on Coinbase incubated layer 2 blockchain solution ‚Base‘, providing users better performance and additional liquidity resources when trading cryptocurrencies through DEXes without having to worry about scalability or cost issues associated with high gas fees