The leading decentralized finance (DeFi) aggregator, 1inch Network, has announced a major upgrade —Fusion— to its 1inch Swap Engine. The Fusion update aims offer profitable, safe and profitable swaps for cryptocurrency investors.
1inch Swap Engine’s Fusion Mode Allows DeFi Investors place orders with a predetermined price and time interval without paying network commissions. Additionally, the update includes network improvements such as updated staking contracts and tokenomics.
As a decentralized trading and matching system, 1inch Swap Engine connects DeFi users and provides liquidity for crypto trading through professional market makers. Explaining the intent behind the Fusion update, 1inch Network co-founder Sergej Kunz stated that:
“Fusion makes 1inch swaps drastically more cost effective as users won’t have to pay network fees, plus, an extra layer of security is added, protecting users from sandwich attacks“.
Going against the traditional centralized approach, the latest 1inch update allows investors to perform secure non-custodial swaps, which run entirely permission-free and trust-free.
According to the announcement, 1inch offers unlimited liquidity and uses a new type of decentralized order matching approach based on the Dutch auction modelas it’s shown in the following.
Fusion mode allows users trade tokens on various DEXs without paying any network fees. The update too allows users to choose the order execution time according to their particular needs.
Also, Fusion mode provides maximum extractable value (MEV) protection), which refers to the maximum value that can be extracted from block production above the standard block reward and gas fees.
Along with the update, 1inch launched the 1inch Resolver Incentive Program, which will help resolvers get reimbursed for gas spent on filling user orders in Fusion mode until December 31, 2022.
The Security experts believe that bridging attacks will continue to pose a major challenge for the DeFi sector in 2023.
Speaking to Cointelegraph, Theo Gauthier, founder and CEO of Toposware, noted that bridges have “inherent vulnerability” because they depend on the security of the chains they connect to.
In this way, One of the main technologies available are zero knowledge proofs (ZKPfor their follow in English), that allow to verify and demonstrate the accuracy of the data without revealing more information.
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