The 1inch Network expands to Fantom
Thanks to the expansion to another promising blockchain, 1inch users will get access to yet deeper liquidity and yet more options for efficient and cheap swaps.
“Fantom is a popular network, and it has performed quite remarkably lately,” says Sergej Kunz, 1inch Network co-founder. “The deployment of 1inch protocols on that blockchain is set to offer users more efficiency and flexibility, as well as access to yet deeper liquidity.”
Fantom is a high-performance, scalable, EVM-compatible Layer 1 blockchain protocol. Fantom’s mainnet deployment, Fantom Opera, was built on its own consensus mechanism called Lachesis.
Lachesis facilitates high transaction speeds, low transaction costs and deterministic finality. Meanwhile, all these advantages are achieved while the protocol remains permissionless, decentralized and open-source.
Thanks to using a leaderless Proof-of-Stake consensus to secure the network, Fantom offers significantly high levels of security.
According to DeFi Llama, Fantom’s TVL stood at $6.6 bln in late March 2022.
A number of protocols will be immediately available via 1inch on Fantom, including:
- Geist Finance
- Beethoven X (Beets)
- Morpheus Swap
- Elk Finance
You can visit the 1inch Help Center for detailed guides on how to use 1inch on different networks.
Stay tuned for more exciting news and updates from the 1inch Network!