1Inch Expands To Fantom
To celebrate its continued expansion throughout the DeFi market, the 1inch Network is pleased to announce that the 1inch Aggregation Protocol and the 1inch Limit Order Protocol have just been deployed on Fantom.
“Fantom is a well-known network that has succeeded well in recent months,” says Sergej Kunz, co-founder of 1inch Network. “It is anticipated that the implementation of 1inch protocols on that blockchain would provide users with more efficiency and flexibility, as well as access to even greater liquidity.”
Fantom is a high-performance, scalable, and EVM-compatible Layer 1 blockchain system . Its mainnet deployment, Fantom Opera, was based on its own consensus process, Lachesis, which was developed by Fantom itself.
Lachesis makes it possible to have fast transaction speeds, cheap transaction costs, and deterministic finality all at the same time. Meanwhile, all of these benefits are realized while the protocol maintains its permissionless, decentralized, and open-source characteristics.
Fantom provides much higher levels of security than other cryptocurrencies since it uses a leaderless Proof-of-Stake consensus to safeguard the network.
In late March 2022, Fantom’s TVL was valued at $6.6 billion, according to DeFi Llama’s calculations.
A variety of procedures, including the following, will be offered instantly via 1inch on Fantom: