Decentralized exchange aggregator 1inch announced expansion across the Coinbase-incubated layer-2 blockchain, Base. 1inch also mentioned that Base is poised to gain advantages from “Coinbase product integrations and convenient fiat onramps,” which will also be extended to projects within the ecosystem.
The team also revealed the deployment of the 1inch Aggregation Protocol and the 1inch Limit Order Protocol on Base.
- The latest expansion will enable 1inch users to get access to another layer-2 solution with lower transaction costs and higher speeds, as well as some extra liquidity.
- Commenting on the development, Sergej Kunz, 1inch Network’s co-founder, said,
“We are happy to expand to Base. Base is a very promising L2 solution, plus it’s incubated by such a major player as Coinbase. In addition, we totally share Base’s philosophy aimed at bringing the next billion users to blockchain.”
- Uniswap v3, Balancer v2, SushiSwap v3, Rocket Swap, and 1inch Limit Order Protocol v3 are some of the protocols that are immediately available via 1inch on the Layer 2 Ethereum scaling solution.
- Since opening the Base mainnet for public use, the network has consistently managed to attract over $100k daily active users.
- 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.
- Base has also witnessed a frenzy of scam tokens. As reported earlier, the new blockchain saw more than 500 fraudulent tokens in a relatively brief period, while scammers stole $2 million in profits in the process.