Crypto Swiss Hub release 1inch V3 connector
Crypto Swiss Hub: We are excited to launch 1inch V3 connector. This new connector will bring algorithmic superpower to 1inch V3. We can connect us more efficiently while improving price discovery and traffic for this new exchange at the same time.
Lower transaction fees with v3
Transaction fees on Ethereum have risen and stayed high, making it difficult for users to justify regular transactions or smaller denominations of trades, stakes, and more. We’ve always been at the forefront of providing features that the Web3 ecosystem needs, so we built the 1inch V3 connector.
The main improvement in version 3 is the ability to substantially reduce gas fees thanks to assembly code optimization.
The feature applies to swaps using Uniswap v2 and its forks, such as Sushiswap, LuaSwap, etc. Previously, swaps on Uniswap v2 were cheaper than on 1inch, but now the opposite is true. Swapping ETH for DAI on 1inch, for example, requires 10.3% less gas than the same trade on Uniswap and 4.9% less than on 0x.
Similarly, an ETH -> USDC -> DAI swap using the 1inch Aggregation Protocol v3 is 10% cheaper than on Uniswap and 3.5% cheaper than on 0x.
As you can see, it is now cheaper to swap tokens on 1inch than on Uniswap, as well as other popular protocols. Still, if a swap deal turns out to be more efficient using our traditional split across several paths, the latter is used.
More liquidity than ever before
Thanks to this upgrade, crypto swiss hub aims to further solidify its leading positions in the web3 space. By providing liquidity on 1inch, can get access to the highest value of liquidity available. As of mid-March 2021, the total value of liquidity available on 1inch was $16.5 bln for Ethereum and another $2.3 bln for Binance Smart Chain.