1inch Network increases its sources of liquidity by expanding to Polygon

1 inch network, As the leading decentralized stock market aggregator, the company was officially expanded to Polygon. This opens up additional sources of liquidity for Curve, SushiSwap, QuickSwap, Aave V2 and Cometh.

1inch announced Thursday that the liquidity funds for exchanges 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 scaling of Ethereum while the developer network goes through proof of deployment or PoS.

Sergej Kunz, co-founder of 1inch Network, said user requests for swaps on polygons 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 that Polygon should also be available for exchanges beyond 1-inch. Currently, the 1-inch aggregation protocol is already implemented in 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. “

1inch Network increases its sources of liquidity by expanding to Polygon
1inch Network increases its sources of liquidity by expanding to Polygon

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 for higher speed and lower transaction fees.

1inch has quickly grown into a leading decentralized exchange aggregator that was recently integrated with Mdex. The introduction of the 1-inch wallet earlier this month further solidified its position as the leading entry point for DeFi.

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