The 1inch integration with Aurora offers users access “to faster and cheaper transactions on a number of DEXes.”
As noted in an update shared with CI, 1inch is always on the lookout for “promising” collaborations, and they’re now announcing an integration with Aurora.
Sergej Kunz, 1inch Network co-founder, said:
“This integration will enable 1inch users to take advantage of Ethereum’s user-friendliness at much higher speeds achieved thanks to NEAR technologies. The partnership of 1inch with Aurora was long awaited by the Aurora community,”
Alex Shevchenko, CEO of Aurora Labs, remarked:
“We are happy to welcome 1inch and congratulate our users who will be able to enjoy the features of this protocol. This integration further expands the horizons of the Aurora ecosystem, and we believe that the community will strongly benefit from the addition of this renowned DEX aggregator.”
Aurora is an Ethereum Virtual Machine (EVM) that “offers a turn-key solution for developers to run their apps on a high-throughput, Ethereum-compatible, scalable and future-safe platform.”
Meanwhile, dApp users “benefit from low transaction costs.”
In recent months, Aurora, which runs on NEAR, one of the highest-performance third-generation L1 protocols, has “seen substantial growth.”
According to DeFiLlama, Aurora’s TVL “in late May, 2022, stood at $491mln.”
Currently, the Aurora ecosystem “encompasses over 100 projects and operates one of the crypto space’s most secure and innovative bridges – between Ethereum, Aurora and NEAR.”
As part of the NEAR Rainbow Bridge, the Aurora Bridge is “the only fully trustless asset bridge in the Ethereum space.”
Thanks to the NEAR Protocol scalability, Aurora “offers high transaction speed, with an average block created in roughly one second.”
Another major advantage “is low transaction cost.” Transaction fees on Aurora are “paid in the base currency, ETH, which ensures positive user experience, also opening up opportunities for ecosystem sustainability.”
Additionally, Aurora “boasts full Ethereum compatibility, with no need for re-writing Ethereum dApps to be operable on Aurora.”
The integration comes “at a crucial time for Aurora, as DeFi protocols on the platform, such as Aurigami, Bastion and Trisolaris, are gaining momentum and cutting-edge bridge solutions, including Multichain, Synapse and Wormhole, are being built.”
Thanks to the integration, 1inch users “will be able to access the following DEXes” on Aurora right today:
- Bastion
- Trisolaris
- Aurigami
- Synapse Bridge
- WannaSwap
- NearPad
- AuroraSwap
- Curve
- DODO
- 1inch Limit Order Protocol V2