Decentralized finance platform Oasis.app has integrated with the 1inch Network, a decentralized exchange aggregator, to provide its users with the competitive rates and liquidity. This integration comes shortly after users were suffering from rising gas costs using Oasis Trade, as 1inch provides a cheaper, more efficient solution.
1inch is a decentralized exchange aggregator that scans multiple liquidity sources within Ethereum, Binance Smart Chain, Polygon and Optimistic Ethereum networks to find the best possible swap rates for its users. When paired with the new Oasis.app feature, Oasis Multiply, users can multiply their positions.
Oasis Multiply, which is built on top of the Maker Protocol, allows users to borrow DAI and create Multiply Positions, which are similar to leveraged or margin positions but without the need to borrow funds from a counterparty. Oasis Multiply supports other Maker-supported assets, like ETH or wBTC as well.
“As a team, it is really exciting to announce 1inch as our first protocol integration on Oasis.app beyond the Maker Protocol. Working with 1inch provides our users with the best possible prices, and really enhances the use cases that allow them to borrow and utilize DAI in the most secure way possible,” says Chris Bradbury, Oasis.app CEO.
“The integration with Oasis.app is another step towards a more efficient and secure DeFi space and wider adoption of innovative decentralized financial solutions,” adds Sergej Kunz, 1inch Network co-founder.
1 inch Network joins decentralized protocols in a bid to improve and secure DeFi operations. Its first protocol is the decentralized exchange aggregator that is capable of splitting a single transaction across multiple decentralized exchanges. Smart contract technology empowers this aggregator enabling users to optimize and customize their trades.
Oasis.app can be used to borrow DAI against cryptocurrencies or increase exposure against them — all in one place.