1inch is pleased to announce the release of 1inch Fusion 2.0, which facilitates significant savings on crypto swaps.
Launched in December 2022, 1inch Fusion enables users “to swap tokens on various networks without paying gas fees, while enjoying access to liquidity across the entire crypto space and protection from MEV.”
All Fusion swaps are executed “by resolvers — professional and verified traders competing with each other for the right to execute swaps and therefore offering users the most favorable rates.”
1inch Fusion exemplifies an intent-based approach, “where users declare the target they wish to achieve, and professional market players execute it using the most suitable strategies.”
With 1inch Fusion, a user states their intent “to make a swap, and the protocol ensures the best execution by the resolvers.”
Partial fill functionality enables large swaps “to be executed even more efficiently, at rates better than current network market, as different resolvers fill different parts of the order. Intent-based approach ensures that the user does not pay any gas fees even if the order expires.”
Sergej Kunz, 1inch co-founder said:
“As we continually strive to enhance the efficiency of decentralized swap settlement, the second version of 1inch Fusion introduces significant improvements, enabling even greater efficiency in swaps than before.”
The settlement contract layer was removed and “replaced with the lightweight settlement extension.”
As a result, users interact with resolvers directly and “therefore get better prices on token swaps.”
According to 1inch’s internal tests, order settlement “in Fusion 2.0 is now 10-35% cheaper than in the previous version.”
Compared to competitive offerings, 1inch Fusion 2.0 is “approximately 10% more efficient, allowing resolvers to offer users significantly better swap rates.”
Meanwhile, this improved efficiency means “that users swapping smaller amounts can benefit from more favorable rates, as can those making larger swaps.”
Another improvement contributes “to better swap prices, while also speeding up transactions — in line with user requests — and making order expiration less likely. In 1inch Fusion 2.0, the price curve is adjusted based on market gas prices.”
Previously, a change in the gas costs “between signing a transaction and its execution could result in an order expiration due to gas price volatility.”
Now, the gas price is immediately “taken into account and the price curve is adjusted based on market conditions, if necessary.”
As a result, orders are executed “by 75% faster and the probability of a failed swap is reduced.”
The price curve adjustment feature is “a unique piece of tech developed by 1inch and they are excited to bring it to the market.”
Finally, thanks to the upgraded Fusion SDK — “an order constructor and interface for interaction with the Fusion API — the integration of 1inch Fusion has become totally seamless. Fusion 2.0 is already available in the 1inch dApp: enjoy the most efficient swaps in the market.”
