1inch Network increases sources of liquidity by expanding to Polygon


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1inch Network, a leading decentralized exchange aggregator, has officially expanded to Polygon – a move that opens additional sources of liquidity for Curve, SushiSwap, QuickSwap, Aave V2 and Cometh.

1 Zoll announced on Thursday that the exchange liquidity pools will be added immediately and more protocols will be rolled out gradually over time. Polygon has been described by 1inch as an “important” infrastructure protocol to ensure efficient Ethereum scaling when the developer network is transitioning to proof-of-stake (PoS).

Sergej Kunz, co-founder of 1inch Network, said the user requests for polygon swapping after the integrated 1-inch Binance Smart Chain were “massive”:

“After the 1-inch network was expanded to include Binance Smart Chain, there was a massive request from the community to make Polygon available for exchange over 1 inch as well. Currently, the 1-inch aggregation protocol is already implemented on Polygon, while the 1-inch liquidity protocol and the 1-inch governance protocol are expected to be expanded to include Polygon in the coming weeks. “

In terms of market capitalization, Polygon is the 28th largest cryptocurrency protocol, with a total network value of $ 6.9 billion, according to CoinGecko.

Kunz blamed the integration of Binance Smart Chain for the successful expansion of its protocol. 1 inch users can now easily switch between Binance Smart Chain and Ethereum looking for higher speed and lower transaction fees.

1inch has quickly become a leading decentralized exchange aggregator and has only recently been integrated into Mdex. The introduction of 1inch Wallet earlier this month further solidified its position as the leading entry point for DeFi.