Search Inside Bitcoins

With its new v5 router, 1inch seeks to minimize gas costs

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

Customers of the decentralized exchange (DEX) section would reportedly pay gas charges for swaps that are at least 10% less than those of 1inch’s prior offers, making switching activity on the Ethereum network more lucrative for its users. In the Router v5, 1inch predicted that swaps would be 10% more gas efficient compared to the second-best participant in the DEX segment and about 5% more gas efficient than in the previous edition.

The updated router has a number of improvements, including a better approach for handling smart contract errors

A new interaction logic, pre-/post-interactions, and an upgraded smart contract error processing system are among the new features and advancements brought to the Router v5 from earlier routers. The latest edition has undergone audits from almost a dozen industry initiatives, including Consensys, OpenZeppelin, and ABDK Consulting, and is also intended to prioritize security.

Co-founder of 1inch Network Sergej Kunz said “We have gathered enough improvements since the 1inch Router v4 was published to warrant the introduction of the new fifth version. […] In comparison to utilizing any other DeFi device, our users will now save at least 8–14% more because to our improved gas cost optimization.”

The 1inch Network would implement the 1inch Aggregation Protocol and the 1inch Limit Order Protocol on Avalanche and Gnosis Chain, formerly known as the xDai Chain at the start of the year.

In order to give its user base with access to the 1inch Limit Order Protocol v2, as well as deeper liquidity and improved token swaps via the 1inch network, 1inch connected with Klaytn, South Korea’s most well-known metaverse blockchain, in August.

The Router v5 is the newest router by DEX aggregator 1inch. The business said that by lowering gas prices for swaps, Router v5 will make consumers’ experiences with decentralized finance (DeFi) more convenient.


Join Our Telegram channel to stay up to date on breaking news coverage

Read next