KuCoin Wallet integrates 1inch in order to provide native swaps for its consumers worldwide at the most competitive rates available across all decentralized exchange platforms.
KuCoin Wallet Integrates 1inch
Following the integration of the application programming interface of decentralized finance (DeFi) market maker 1inch, KuCoin will introduce native token swap capability to its internal wallet in order to provide customers native swaps at the most competitive rates.
KuCoin Wallet, the exchange’s freshly launched decentralized wallet platform that supports cross-chain trading, DeFi, and nonfungible tokens, will perform more effectively thanks to the Pathfinder algorithm from 1inch (NFT).
More than 250 sources, including automatic and proactive market makers from the DeFi ecosystem, will be combined into one pool of liquidity by the algorithm. 1inch offers a wide range of asset pairs for trading by connecting to liquidity providers operating on 9 different blockchain networks.
As a result of the partnership, KuCoin Wallet users will also have access to 1inch’s Limit Order Protocol capabilities. These orders are filled once the predetermined price is met. This includes requests for blockchain quotations, gasless limit orders for Ether (ETH), and other coins that want permissions rather than transaction approval.
Head of KuCoin Wallet Jeff Haul said:
“We are always striving to make our product cater to the needs of all investors. Swap is a high-frequency feature of the wallet, and 1inch is one of the most popular DEXs in the Web3 industry, so we work together through native integration to provide a smooth and cost-effective trading experience for our users.
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He further stated:
“As a gateway to the Web-3 world, we are willing to integrate any excellent Dapp that can provide high value to our users. This partnership with 1inch is a great start to our journey with more exciting landscapes ahead.”
KuCoin Grows in Web3 Sector
The debut of KuCoin occurred in September of 2017. The organization’s operating headquarters are in Seychelles. With 700 digital assets and a focus on community engagement and inclusivity, it is a user-friendly platform. Furthermore, it provides 20 million customers from 207 regions and countries with spot trading, peer-to-peer fiat trading, futures trading, and margin trading. Its 2022 H1 Review Report states that the trade volume has topped $2 trillion, an increase of 180% from H1 of 2021.
KuCoin debuted its browser-based self-custodial wallet in June 2022 and made a suggestion that DeFi, NFTs, and GameFi might be supported in the future. The initial NFT functionality was powered by Windvane, a KuCoin-exclusive NFT marketplace.
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