The 1inch Network expands to zkSync Era
Thanks to the expansion to this recently launched, highly-anticipated blockchain, 1inch users will get access to yet deeper liquidity and, in the longer run, higher transaction speeds and lower fees.
The 1inch Network is happy to share that, as it continues expansion across the DeFi space, the 1inch Aggregation Protocol and the 1inch Limit Order Protocol have been deployed on zkSync Era, a Layer-2 solution for scaling Ethereum.
“zkSync Era is a very promising L2 solution, and we are glad to be among the first projects to deploy on that network,” says Sergej Kunz, the 1inch Network co-founder. “As zkSync Era gains steam, 1inch users will benefit from faster and cheaper transactions.”
“We’re extremely excited to see the 1inch Network deploy on zkSync Era. As the largest DEX aggregator by on-chain volume, 1inch will provide deeper liquidity to zkSync Era while offering DeFi users greater transparency and empowering them to execute faster trades at better rates and with less slippage on their transactions,” adds Alex Gluchowski, CEO and co-founder of Matter Labs, the team behind zkSync.
“DeFi has been a driving force behind zkSync Era’s explosive growth that has seen over $200M in TVL driven to the protocol in just three short weeks, and we expect the deployment of 1inch to contribute to even greater adoption and usage of zkSync Era,” he goes on to say.
Launched in late March 2023, zkSync Era is one of this year’s most highly-anticipated L2 solutions. It is powered by the Zero-knowledge rollups (ZK-rollups) tech and aims, on top of increasing Ethereum’s throughput, to fully preserve such values as freedom, self-sovereignty and decentralization, at scale.
zkSync Era’s ultimate goal is hyper scalability – an ability to process an unlimited number of transactions without any major impact on security or costs.
ZK-rollups increase throughput on Ethereum Mainnet by moving computation and state storage off-chain. As a result, ZK-rollups can process thousands of transactions in a batch and subsequently post only some minimal summary data to Mainnet.
While zkSync Era was still in the development stages, more than 200 projects, including Chainlink, SushiSwap, Uniswap, Aave, Argent, Gnosis and Curve, expressed interest in deploying on the blockchain.
Several protocols are immediately available via 1inch on zkSync Era, including:
You can visit 1inch’s Help Center for detailed guides on how to use 1inch on different networks.