We covered KuCoin three months ago when the exchange raised $150 million in Series B funding to expand its presence in Web 3, a decentralized version of the Internet that is based onBlockchain technology.
The startup has built new alliances to grow its exchange. One of the partnerships is with the 1 inch Network, a distributed network for protocols on Ethereum, the BNB Chain, Polygon, Avalanche, OptimisticEthereum, Arbitrum, Fantom and Gnosis Chain.
1 inch announced today that it has partnered with KuCoin Wallet to launch its native swap feature. The algorithm will allow users to swap token on multiple blockchains at the best possible rates. The 1 inch API continues to expand in the DeFi space, strengthening the swapping functionality of the KuCoin Wallet, which was focused on opening the gateway to the Web 3 world to its users.
The KuCoin Wallet is a brand-new DeFi product from the KuCoin exchange, and it has been partnered with the 1 inch Network, which is the leading edge Pathfinder algorithm that helps to introduce native swapping at a high level. It instantly provides the most attractive rates based on an aggregation of over 250 liquidity sources, which include both AMMs and PMMs. The automatic swap split between protocols guarantees the best path, as long as it makes the exchange favorable. The algorithm can even engage different market depths within the same protocol when it comes to splitting.
With this integration, users of the KuCoin Wallet will now enjoy the best possible swap rates, access to numerous liquidity sources running on the nine most popular networks, and a great number of tradable asset pairs. Users of KuCoin Wallet will benefit from less slippage and lower gas commissions because they will have high-level security provided by multiple trustworthy audit teams.
In addition to the impressive array of liquidity sources, attractive swap rates, and one of the shortest response times, KuCoin Wallet users will also get access to the 1 inch Limit Order Protocol functionality. Once reached, this type of order is filled at a predetermined price. It has gasless limit orders for ETH, RFQ and support of tokens that require just permits rather than transaction approval.
The head of KuCoin Wallet Jeff Haul says that the swap is a high-frequency feature of the wallet and 1 inch is one of the most popular DEXes in the Web 3 industry.
KuCoin Wallet takes a step further in offering the user innovative products and embracing Web 3.0, according to the KuCoin Wallet. It is designed for easy DeFi trading, but it aims to provide customers with all the benefits of 1 inch API-based advanced trading.
The 1 inch API integration is a strong start to the wallet, according to Sergej Kunz, co-founder of the 1 inch Network. He adds that the idea of building a collaborative future in Web 3 is beautiful, especially when there is an opportunity to provide a multi-functional and ready-to-use tool that guarantees customers full DeFi trading immersion.