Thanks to improvements in the new version, users’ gas costs for swaps will be at least 10% lower than any other offerings in the DEX segment.
Buy 1inch on Binance
Since the launch of the 1inch Aggregation Router v1 back in 2019, millions of users have trusted it to make swaps totalling hundreds of billions of dollars.
Now, by releasing Router v5, the 1inch Network solidifies its position as a market leader, taking users’ DeFi experience to a new level of convenience and profitability.
Substantially more gas-efficient swaps
The new version makes 1inch users’ swapping activity on the Ethereum network yet more profitable. In the 1inch Router v5, swaps will be roughly 5% more gas efficient than in the previous version and 10% more gas efficient, compared with the second best performing player in the DEX segment.
Here are some examples of the new router’s improved gas efficiency.
With the 1inch Router v5, a 100,000 USDC swap into USDT through a Uniswap v3 pool turned out to be 4% more gas efficient than with the 1inch Router v4, 8% more gas efficient than with the second best performing player in the DEX segment and 24% more efficient than other offerings.
Similarly, a 50 ETH swap into USDC through a Balancer pool was 6% more efficient than with v4, 14% more efficient than with the DEX segment’s second best performing player and 26% more efficient than other offerings.
With the optimized Router v5, a 100 ETH swap into USDT through two Uniswap v3 pools was 5% more gas efficient than with v4, 8% more gas efficient than with the DEX segment’s second best performing player and 24% more gas efficient than other offerings.
Finally, a 1,000 ETH swap into DAI through the DODO and Curve pools was 3% more gas efficient than with v4, 14% more gas efficient than with the second best performing player in the DEX segment and 32% more gas efficient than other offerings.
The router was merged with the 1inch Limit Order Protocol v3, facilitating more efficient swaps and cheaper gas. Users will be able to take full advantage of the 1inch Limit Order Protocol, which has recently emerged as one of the best performing solutions in the market. In just over a year, the 1inch Limit Order Protocol has grown from zero to a major player in the DEX segment, currently responsible for about 40% of the market.
In other improvements, new interaction logic was applied, and pre-/post-interactions were added.
In addition, the new version features an improved smart contract error processing system, to which custom errors were added. Custom errors facilitate a convenient and gas-efficient way to explain to users why a specific operation failed.
As security of users is always a top priority of 1inch, the new version of the router has been thoroughly audited by almost a dozen of the industry’s most reputed projects, including Consensys, OpenZeppelin and ABDK Consulting. The results of the audits can be viewed here.
Still, if someone can detect a vulnerability in the 1inch Router v5, they will be rewarded. To report a vulnerability and receive a reward, follow this link.
The 1inch Network constantly improves and upgrades its products and solutions. Stay tuned for more updates!
Sourced from cryptonews.net.