1inch Network developers have added support for Klaytn

1inch Network developers have added support for Klaytn

1inch Network developers added Klaytn support

The 1inch Network platform announced the deployment of liquidity aggregation and order routing protocols to the Metaverse and GameFi-centric Klaytn network. This is stated in the press release.

“Launching on Klaytn will offer users instant transaction speed and more variety in the choice of blockchains”, — said the co-founder of 1inch Sergey Kunts.

Behind the Klaytn project, the South Korean Internet giant Kakao launched the main network in 2019. The blockchain is based on an EVM-compatible hybrid technology based on BFT consensus.

According to a press release, Klaytn has a throughput of 4,000 TPS, and it takes less than 1 second to finalize transactions. 

The development team is implementing a dynamic gas charge mechanism and plans to increase scalability through second-layer solutions, improvements token management tools and oracle functions.

In recent years, Klaytn has become one of the most popular platforms in South Korea for applications, NFTs, metaverses, games, and marketplaces.

According to DeFi Llama, the volume of locked assets in the network's DeFi protocols is $416.8 million. According to this indicator, Klaytn ranks 14th in the dapps ranking.

Initially, DEX 1inch will support the following projects:

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  • 1inch Limit Order Protocol V2;
  • KokonutSwap;
  • KlaySwap;
  • Klap;   
  • ClaimSwap.
  • Recall that in March, the 1inch team launched the third version of the liquidity aggregator protocol.

    In April, the project introduced the 1inch ecosystem Network, which included 1inch Aggregation Protocol and 1inch Liquidity Protocol. It is run by a decentralized autonomous organization that allows users to vote on key protocol parameters and participate in network governance.

    In June, the developers introduced an updated 1inch Network Governance voting system.

    Learn more about the liquidity aggregator with Read DEX 1Inch in educational flashcards.

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