Major decentralized exchange (DEX) aggregator 1inch Network, has continued to expand its reach by partnering with crypto wallet provider CoolWallet.
According to the announcement made by the DEX on Twitter, 1inch’s DEX aggregation functionality is now available for all users of the CoolBitX app — a mobile cold storage app that offers a secure way to store, receive, and send crypto assets including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Bitcoin Cash (BCH).
The 1inch Network partnership automatically enables CoolWallet users to use the DEX aggregator. That is, with this integration, CoolBitX App users will be able to safely exchange one cryptocurrency for another. And they’ll be able to do this, even at very competitive rates on the market directly from their app.
1inch Network Continues Widening Its Reach
Without doubt, 1inch Network is on the quest to strengthen its liquidity pool for its users. And to that effect, it has been on an integration spree with different decentralized finance (DeFi) protocols and DEXs.
The network uses an algorithm known as Pathfinder to search different liquidity sources across Ethereum, Binance Smart Chain and Polygon. In fact, as at 2021, the DEX aggregator had surpassed $65 billion in total volume on the Ethereum network. And that was in just about 2 years.
Meanwhile, 1inch Network’s partnership with CoolWallet app provides an opportunity for the DEX aggregator to reach out to new audiences. And of course, the new audiences would “benefit from 1inch’s attractive rates and user-friendly swap process.”
Also, since 1inch Network had now been deployed on the Optimistic Ethereum (OE) mainnet, it is expected that there’ll be a significant reduction in user transaction fees and confirmation delays for both platforms.