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DeFi News

1inch Network Deploys on Ethereum L2 zkSync Era

Written By Vismaya V Vismaya V
Published April 21, 2023 1:09 PM·Updated 1 year ago
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1inch Network Deploys on Ethereum L2 zkSync Era

The leading DEX aggregator 1inch deploys the 1inch Aggregation Protocol and 1inch Limit Order Protocol on the zkSync Era, an Ethereum Layer-2 network.

1/ 🦄 The #1inch mascot is entering a new era of #DeFi adventures!

🙃 If you see a shiny bright portal animation on your screen with a cyber-unicorn standing next to it, you must know what it means, right?@zksync, welcome to the club 🥳🎉🎊 pic.twitter.com/QDQUSBtJd1

— 1inch (@1inch) April 20, 2023

According to the announcement, protocols such as GemSwap, SpaceFi, SyncSwap, and Mute are already available on the zkSync Era network via 1inch.

Users of 1inch will gain access to the services provided by the new network. The ultimate objective of zkSync Era is to achieve hyper scalability, allowing for an unrestricted volume of transactions without compromising security or incurring high costs.

zkSync Era debuted in late March 2023 which seeks to fully protect ideals like freedom, self-sovereignty, and decentralization at scale in addition to boosting Ethereum’s throughput.

Read More DeFi Updates at The Crypto Times!!

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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