SAN FRANCISCO--(BUSINESS WIRE)--#1inch--TRON, one of the most popular blockchains in the world, enters a strategic partnership with decentralized exchange (DEX) aggregator 1inch. JustSwap will fully integrate with 1inch and Mooniswap (1inch’s own AMM) will integrate into TRON's blockchain.
This partnership marks yet another top Ethereum DeFi project supporting TRON's ecosystem. 1inch, one of the most well-renowned services in DeFi, provides the most efficient swapping routes across all leading DEXs. As DeFi expands in the blockchain industry, DEXs need better tools to achieve large order sizes with low slippage. 1inch will improve JustSwap's access to a greater audience, enhance its price accuracy, and enable it to speed up its impressive growth.
JustSwap has achieved a $100 million 24-hour volume since its start and represents TRON's strong DeFi ecosystem. This is not the only DeFi service benefitting from this mutually beneficial partnership.
1inch's Mooniswap is a next-generation AMM (automated market maker) where LP (liquidity provider) earnings are dramatically increased by slowing down price changes to prevent arbitrage traders from earning up to 100% of the swap slippages. Mooniswap uses ‘virtual balances’ to achieve this slowdown. Mooniswap is integrating with TRON so that users may swap between a range of tokens at accurate prices with a huge range of options and so that liquidity providers can earn profits otherwise captured by arbitrageurs.
“We believe that users and liquidity providers will benefit from Mooniswap’s implementation of virtual balances,” said Sergej Kunz, Co-Founder and CEO of 1inch. “At the same time Mooniswap will enjoy the best-in-class advantages that come standard with TRON's blockchain. These include faster, cheaper service, high-throughput scalability, huge developer community, and a massive social media following.”
TRON also plans to reward liquidity providers on Mooniswap with TRON tokens. These TRON tokens are an additional incentive and reward for liquidity providers. Both TRON and 1inch are mission-driven to benefit liquidity providers and crypto users with the technological achievement of Mooniswap.
TRON is dedicated to accelerating the decentralization of the internet through blockchain technology and decentralized applications. Founded in September 2017 by Justin Sun, the company has delivered a series of achievements, including the MainNet launch in May 2018, network independence in June 2018, and the TRON Virtual Machine release of August 2018. July 2018 also marked the acquisition of BitTorrent, a pioneer in decentralized services boasting approximately 100M monthly active users.
1inch (https://1inch.exchange/) is a decentralized exchange aggregator that sources liquidity from various exchanges and is capable of splitting a single trade transaction across multiple DEXs. Smart contract technology empowers this aggregator enabling users to optimize and customize their trades. Launched in May 2019 by Sergej Kunz, CEO, and Anton Bukov, CTO, 1inch has surpassed $2.4B in overall volume in just over a year. In August 2020, the 1inch team released Mooniswap (https://mooniswap.exchange/) – an AMM (automated market maker) where LP (liquidity provider) earnings are dramatically increased by slowing down price changes to prevent arbitrage traders from earning up to 100% of the swap slippages. 1inch has already integrated support for top DEXs including Uniswap, Kyber Network, Airswap, Oasis, Bancor, Balancer, Curve, and many more.
Ryan E. Dennis