The power of the 1inch Balance API in action

The 1inch dApp uses the Balance API to monitor user wallets’ balances and allowances.

1inch efficiently integrates tools from the 1inch Developer Portal to enhance its products, showcasing the practical impact and capabilities of these solutions in real-world applications. In this case study, we focus on how the 1inch Balance API is integrated into the 1inch dApp to provide users with seamless, real-time insights into their token balances and allowances across EVM networks.

How the 1inch dApp leverages the Balance API

The 1inch Balance API is a crucial component of the 1inch dApp, streamlining the process of managing balances and allowances across multiple networks. The API simplifies the DeFi experience for users, enabling seamless, real-time asset management across EVM-compatible chains.

Unified asset overview

The Balance API consolidates both token balances and allowances, offering users a unified view of all their assets when connecting wallets to the 1inch dApp. This streamlined interface simplifies token management across multiple networks.

Balances and allowances in a single request

Managing assets in decentralized finance (DeFi) requires not just tracking token balances but also monitoring allowances given to smart contracts. An allowance refers to the permission users grant a smart contract to use their tokens for transactions. When users swap a token for the first time, they must approve the smart contract to interact with their token. In the 1inch dApp, this is visually indicated by a lock on the swap field, signifying that an allowance is needed for the swap.

The 1inch Balance API simplifies this process by providing both token balances and allowances for any ERC-20 token through a single API request. This creates a more seamless and efficient experience, giving users a clear and comprehensive view of their assets and allowances.

Enhanced user experience 

The Balance API ensures that 1inch dApp users receive updates on their balances and allowances, allowing them to make informed decisions. This functionality enhances responsiveness, offering a smooth and efficient asset management process.

Benefits of the Balance API for Web3 developers

The Balance API is designed to streamline Web3 projects by offering developers a comprehensive tool for delivering real-time, accurate information on balances and allowances for crypto wallets across various EVM-compatible networks. 

Simplified asset management

By consolidating balance and allowance data, developers can present users with a unified view of their token holdings and contract permissions, making asset management more straightforward and efficient.

Multi-chain functionality

The Balance API supports 12 leading EVM chains: Ethereum, Aurora, Arbitrum, Avalanche, BNB Chain, Fantom, Gnosis, Klaytn, Optimism, Polygon, zkSync Era and Base. This broad multi-chain compatibility ensures that users have real-time asset data across various networks, delivering a seamless experience regardless of the token or wallet in use.

Fast response time

With response time below 400 ms, the Balance API offers some of the fastest updates in the market, ensuring that projects built using this API deliver a top-tier user experience.

To request more information or to integrate the 1inch Balance API into your project, please contact our business development team.

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