- 1inch has announced today that they are upgrading their decentralized exchange (DEX) system.
- The developments will include Pathfinder, an API that entails an innovation and routing algorithm that looks for the best routes for tokens to swap most quickly.
- The CEO, Sergej Kunz, said to the press that the most significant component of the transformation is how users should notice how much quicker their transactions are.
1inch upgrades DEX aggregation
1inch has announced today that they are upgrading their decentralized exchange (DEX) system. The developments will include Pathfinder, an API that entails an innovation and routing algorithm that looks for the best routes for tokens to swap most quickly.
The CEO, Sergej Kunz, said to the press that the most significant component of the transformation is how users should notice how much quicker their transactions are. Version 2 of the DEX project will come with interface advancements, and that the new UI was put together entirely from ground zero.
DEX aggregators aim to unify all DEX portals so that multiple sources of liquidity and traders can span across a vast marketplace. The launch of the upgrade came a few months after the company raised $2.8 million worth of seed funding coordinated by Binance Labs.
Binance Labs is a start-up branch of the crypto exchange. A few other investors helped with the project, such as FTX, Dragonfly, and Galaxy Digital.
Hopefully, the change will support the industry.
Octobers’ data revealed that DEXs witnessed a 23% fall in the volume of trade. It was reduced to $18,46 billion from $24 billion the previous month.
The decline was unexpected as the last dip occurred in April this year.
Before the downturn, there was around a 103% increase between August to September, according to figures from Dune Analytics.
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