KuCoin Wallet Integrates 1inch For Implementing Native Swap Function

2022/08/11 14:00:00

Cryptocurrency exchange KuCoin has partnered with the 1inch DeFi data aggregator protocol to enable native swaps for its global users at the lowest prices across all decentralized exchange platforms.

1inch Network is a DEX aggregator that analyzes blockchain data in search of the most favorable swap and transfer conditions using the Pathfinder algorithm. With its dynamic pricing, stop-loss and trailing stop orders, as well as a host of other functions, 1inch is considered to be the leading DeFi solution in decentralized space.

KuCoin will integrate the API of the 1inch aggregator protocol into its native KuCoin Wallet multipurpose storage and transaction processing application. Integration of 1inch into KuCoin Wallet with the use of 1inch’s Pathfinder search algorithm will allow users to utilize the swap function for tokens cross-chain on all supported networks and to leverage the lowest swap rates and fastest transfer routes to directly swap tokens inside the application, and process as many as 1,639 different tokens across all the blockchain networks supported by KuCoin Wallet.

“We are always striving to make our product cater to the needs of all investors. Swap is a high-frequency feature of the wallet, and 1inch is one of the most popular DEXs in the Web3 industry, so we work together through native integration to provide a smooth and cost-effective trading experience for our users. Furthermore, as a gateway to the Web-3 world, we are willing to integrate any excellent Dapp that can provide high value to our users. This partnership with 1inch is a great start to our journey with more exciting landscapes ahead,” Jeff Haul, the Head of KuCoin Wallet, stated.

The partnership with 1inch will further deepen KuCoin’s penetration into the DeFi space and enable it to provide more convenient services to its growing user base. In addition, the exchange has repeatedly stated that it intends to pursue further exploration and integration of Web3 applications.

About KuCoin

Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform focused on inclusiveness and community action reach, it offers over 700 digital assets. Currently, it provides Spot trading, Margin trading, P2P fiat trading, Futures trading, staking, and lending to its 20 million users in 207 countries and regions.

In 2022, KuCoin raised over $150 million in investments through a pre-Series B Round, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion. KuCoin is currently one of the top 5 crypto exchanges, according to CoinMarketCap. In 2021 Forbes named KuCoin one of the Best Crypto Exchanges. In 2022, The Ascent awarded KuCoin as the Best Crypto App for enthusiasts.

About KuCoin Wallet

KuCoin Wallet is a secure and easy-to-use crypto wallet supporting multi-chain aggregation powered by the KuCoin ecosystem. With the security expertise of KuCoin and the leading security technology audited by Hacken, KuCoin Wallet is a self-custody wallet with users having full control of their assets. KuCoin Wallet provides the easiest way for users to manage multi-chain assets and enables users to buy, store, and view NFT collections directly within the wallet. KuCoin Wallet is a gateway to the web3 world for all crypto users.

About 1inch

The initial protocol of the 1inch Network is a DEX aggregator solution that searches deals across multiple liquidity sources, offering users better rates than any individual exchange.

This protocol incorporates the Pathfinder algorithm, which finds the best paths among different markets over 250 liquidity sources on multiple chains. As a result, the 1inch Limit Order Protocol facilitates the most innovative and flexible limit order swap opportunities in DeFi. The protocol’s features, such as dynamic pricing, conditional orders, and extra RFQ support, power various implementations, including stop-loss and trailing stop orders, as well as auctions.