Decentralized Exchange (DEX) 1inch has unveiled its “V4 router” with the aim of making trading and trading cheaper than competing platforms like Uniswap and SushiSwap on Ethereum.
Version 4 of the 1-inch router brings “several major improvements” to DEX, including cheaper swaps via lower gas costs, improved RFQ swaps, and the introduction of “DAI standard permits”.
According to 1inch, this will make swaps with the 1inch v4 router “on average 5.4% cheaper than the same swaps done directly on DEXs, such as Uniswap” – a much needed improvement in the rising cost of gas charges on Ethereum.
1 / This is it. Our hero has finally reached the point of no return.
Months of practice have not passed in vain, and # 1 inch is finally ready to challenge high gas prices once again!
– Network 1 inch (@ 1 inch) November 10, 2021
The upgrade will also include the inclusion of nine additional tokens on Ethereum, nine more coins on Binance Smart Chain (BSC), and one token on Polygon.
The DEX also said that request-for-quote (RFQ) swaps – transactions made using the “1-inch limited order protocol” – with the 1-inch router v4 “will be 20.8% cheaper than same swaps via other DEX aggregators ”.
Additionally, additional support for standard DAI permits means that users can trade without separate transaction approval using the DaAI stablecoin.
Data from defiprime.com shows that 1 inch contributed 10% of total DEX volume on Ethereum in the past 24 hours, while its native token, 1INCH, currently sits at $ 4.58.
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