1inch announces Avalanche and Gnosis channel extensions

Measuring up to two rapid blockchain growths will give 1-inch users more options for low-cost, high-speed applications.

Launching 1inch Aggregation Protocol and 1inch Limit Order Protocol between Avalanche and Gnosis Chain (formerly xDai Chain), 1inch Network is pleased to announce that 1inch Network is still developing its DeFi expansion plans. I think

Sergej Kunz, co-founder of 1inch Network, said, “The main goal of 1inch is to provide users with the best value for money across the entire blockchain. To achieve this goal, the 1inch protocol will continue with new channels, such as Avalanche. and chains of Gnosis.

Avalanche (also known as Avalanche Chain or Avalanche Protocol) is a widely used interconnect, and Avalanche has seen significant growth in recent years.

According to DeFi Llama, the total value of Avalanche (TVL) is $10.6 billion as of mid-January 2022.

According to The Block, the TVL of the Avalanche ecosystem increased by 483%, from approximately $2.3 billion in September 2021 to $13.4 billion at the end of November, while the TVL of the Avalanche Bridge also increased of $1.5 billion. . At the same time, revenue increased to $7.1 billion (373%).

Avalanche had an average daily volume of 673,223 conversions in December 2021, with an average daily volume of 98,000. The most used dApp is Trader Joe with an average weekly volume of $223 million.

Many processes have been announced out of the box in 1inch Avalanche including 1inch Limit Order Protocol v2, Aave v2, Wand, Canary Exchange, Curve v1/Curve v2, Elk Finance, KyberSwap, Lydia Financial, OliveCash , Pangolin, Sushi Swap. , Trader Joe, WAVAX, YetiSwap.

The features available on the 1 inch Gnosis chain are: 1 inch Limit Order Protocol v2, Curve v1, Elk Finance, Honeyswap, Levinswap, SushiSwap, Swapr, Symmetric and wxDai.

According to DeFi Llama, Gnosis Chain (formerly xDai Chain) reached TVL at $28.2 million in mid-January 2022. According to Dune Analytics, in December 2021 the chain completed the average at 223,814 transactions per day, with 11,318 wallets. active per day. The largest DEX in the Gnosis chain is the Curve v1, with an average weekly turnover of $1.7 million.