Coinbase, the US-based cryptocurrency exchange, has recently welcome 1inch, a prominent DEX (decentralized exchange) and aggregator, to its growing family of projects. 1inch unveiled its website on Coinbase’s Base Blockchain platform, allowing users to digitize their token solutions and take full advantage of the decentralized finance (DeFi) domain. Read on to find out more about the latest development and its potential implications.
1. 1inch Exchange Aggregator Makes Coinbase’s Base Chain Debut
The cryptocurrency sector has taken another major leap forward with 1inch Exchange Aggregator making their Coinbase’s base chain debut. The debut marks the world’s largest exchange aggregator’s foray into decentralized finance and further unlocks great potential for crypto users globally.
Wide Network Diversity The 1inch Exchange Aggregator also offers users network diversity, as well as the ability to use the platform with a large variety of cryptocurrencies. This gives users the option to explore different kinds of exchanges and which one would fit their needs the most.
Bypass Intermediaries With the 1inch Exchange Aggregator, users can now bypass intermediaries, as the platform provides decentralized access to exchanges. This adds another level of security for users and allows them to access their funds easier and faster.
Unique Feature A unique feature of the 1inch Exchange Aggregator is its Lightning Swap capabilities. This provides users with the option to make lightning-fast swaps in a secure and trustless environment. Users also have the ability to swap ERC-20 assets without having to leave the Ethereum blockchain.
- Users now have access to a wide network of exchanges all in one place.
- 1inch Exchange Aggregator provides users with the ability to bypass intermediaries, making transactions faster and more secure.
- The platform also provides users with the unique option to make lightning-fast swaps.
- Users can now swap ERC-20 assets without having to leave Ethereum.
The Coinbase’s base chain debut of the 1inch Exchange Aggregator has propelled the cryptocurrency sector to new heights, offering users a unique suite of features all in one place. With the platform, users will have access to a wide variety of cryptocurrencies, faster and more secure transactions, as well as the unique ability to make lightning-fast swaps. All these features have the potential to revolutionize the crypto industry, making it more accessible and secure than ever before.
2. Bringing Increased Utility to Base Platform
Our goal is to equip the base platform with added value features, in order to strengthen the already established user experience. By introducing these functionalities, users will find that the initial ground work is pushed forward to the next level.
Functionality Upgrades
- Integrated real-time data insights – Data reflects the pulse of your business and unlocking this data drives growth.
- Predictive analytics powered by machine learning - Digital solutions that make sense of immense volumes of data.
- Smart recommender system and automated workflows – Automate manual tasks while improving customer relationships.
These features deliver the intelligence that is needed to uncover important patterns that help executives to make the right decisions and pursue the right strategies. With the improved platform, users will have access to analytics powered experiences that make data more actionable.
Greater User Application Control
- Data management roles - Get the most out of the data insights with role-based access.
- Maximized performance visibility – Monitor performance and take proactive measures accordingly.
- User-defined actions – Customize workflows to the specific needs of the user.
By offering multiple control options to users, they get the flexibility needed to optimize performance and fine-tune the application depending on the work at-hand. With greater control over the platform, users can tailor workflows to their own process requirements in order to ensure high efficiency.
3. What Users Can Expect from 1inch on Coinbase Pro
Starting today, Coinbase Pro customers can trade in a new market: 1inch (1INCH). This innovative token is a DeFi aggregator, connecting traders across decentralized exchanges and enabling users to find the best prices for their crypto trades — no matter what order size they are looking for.
1INCH is a decentralized ERC-20 token, and it works by connecting traders with liquidity on multiple different decentralized exchanges. By using automated liquidity management services, users can minimize transaction fees, reduce the risk of having to wait for trades in one centralized exchange, and shave off unnecessary costs.
Users have access to more than 800 various cryptocurrency trading pairs through 1INCH — making it the perfect choice for traders who want to increase their options when making crypto-assets trades. It’s near-instant transaction speeds also make it an ideal solution for those looking to do more frequent trades.
The best feature of 1INCH on Coinbase Pro is their low transaction fees. This is due to their decentralized liquidity engineering — meaning traders can save money on the transactions they make. Some of the costs associated with 1INCH trading are:
- 0% Maker Fees – There are no fees for placing orders that are not immediately fulfilled.
- 0.’1% – 0.25% Taker Fees – This is what traders pay when their order is immediately fulfilled.
Coinbase Pro is making it easier and cheaper for traders to access the world of decentralized exchanges with 1INCH. By offering automated liquidity management and near-instant transaction speeds, users can enjoy all the benefits that come with making low-cost, reliable crypto trades.
Coinbase has now welcomed the 1inch DEX Aggregator into its base blockchain platform. With their improved user interface, community certifications, and intuitive UX solutions, they offer a better Decentralized Exchange (DEX) experience for users. It remains to see how 1inch fares as an integral part of Coinbase’s base blockchain and how it continues to evolve in an ever-changing crypto landscape.