DeFi Project 1inch Integrates Fantom Blockchain
As part of the 1inch Network DeFi project, new protocols have been put in place to aggregate liquidity from decentralized exchanges and limit order trades on the Fantom network. The team reported this to ForkLog.
“Fantom is a well-known network that has recently shown impressive achievements. It is a good idea to implement 1inch protocols on this blockchain in order to increase efficiency, adaptability, and liquidity.” said project co-founder Sergey Kunz.
A consensus technique called Lachesis is used by Fantom because it provides rapid transfers and inexpensive on-net costs while guaranteeing finality. However, the blockchain remains open, decentralized, and accessible to everyone. Solidly, Curve, SushiSwap, Synapse, and other Fantom-based protocols are now available to 1inch users.
In terms of cash locked in smart contracts, DeFi Llama places Fantom fourth, with an indication $4.62 billion FTM-expressed value of $3.86 billion, down from the high of $4.67 billion in March. Remind that the 1inch Wallet Android app was launched in March 2022 by the liquidity aggregator from decentralized exchanges 1inch.