Today, via a blog post, DEX aggregator platform, 1inch network announced its collaboration with a decentralized spot order book exchange identified as Lighter.xyz. According to the firm, the collaboration surfaced in an attempt to provide a leading aggregator partnership. More so, the aggregator will leverage the partnership to strengthen its efforts in providing market efficiency and optimal price discovery.Â
Furthermore, 1inch describes how the project ensures gas efficiency and low latency for seamless and cost-effective transactions. Additionally, the announcement provided insights into how the expertise of Lighter.xyz helps gain good price recovery. This focus manifests as the protocol helps to reduce slippage and maintain tighter spreads for popular token pairs like WETH and WBTC.
The team also added that Lighter.xyz effectively helps traders to manage trading costs. Meanwhile, the two partners according to the blog post collaborated as a result of their common vision. According to the blog post, the two projects focus on providing highly competitive pricing for frequently traded pairs on the Arbitrum network. With the collaboration both 1inch and Lighter.xyz will explore opportunities on zkSync Era and other blockchains.
Meanwhile, the CEO of Lighter.xyz, Vladimir Novakovski provided more details regarding the collaboration. The CEO illuminated how the firm is committed to providing outstanding trade execution. Also, Vladimir Novakovski said the firm is early anticipating more opportunities that’ll see it provide support for 1inch. Lastly, the CEO emphasized the commitment of Lighter.xyz to help its new partner in maintaining its status as a prominent DEX aggregator.
How 1inch DAO discontinue support for swap surplus and recent efforts on advancing traders, experience
Meanwhile, this development comes barely a few weeks after the 1inch DAO governance resolved to discontinue its support for swap surplus collection. In the announcement made at that time, the DAO affirms its commitment to improve swap rates and fascinating so as to sustain the development of the network. 1inch added that the discontinuation of the support would allow the network to focus solely on its long-term growth and facilitate cost efficiency of swap.
Notably, 1inch aims to expand its offerings and as well improve users’ experience. Just recently, it proposed the establishment of a new NFT marketplace aggregator in a bid to onboard more users. In the proposal, the firm declared its intention to make the aggregator free of charges. On March 26, voting on the proposal came to an end, with more than 81% voting in its favor.
Earlier, 1inch also collaborated with Bloktopia to push for the advancement of its ecosystem. The collaboration focused majorly on onboarding millions of users into the evolving web3 sphere. According to Bloktopia, it chose 1inch owing to its low fees and the synergy it provides for decentralized protocols.