November 25, 2022

Bitpay implements 1 inch network support – Wallet users can access Defi, Dex Aggregation – Defi Bitcoin News

On August 31, Atlanta-based cryptocurrency payment service provider Bitpay announced that the Bitpay wallet has integrated the decentralized exchange aggregator (dex) 1inch Network. Bitpay wallet users can use the 1 inch protocol to exchange ether or the myriad of ERC20 tokens.

Bitpay wallet supports 1 inch

Decentralized Finance (challenge) has grown exponentially according to statistics, as data from shows that there is $ 157 billion in total value locked (TVL) in all blockchains supporting the challenge. .

Dune Analytics metrics indicate that when it comes to the growth in the number of users of the Ethereum Network Challenge, there are 3.2 million unique addresses. Bitpay now allows Bitpay wallet users to participate in certain challenge market actions by supporting the dex 1 inch aggregation protocol.

The 1 inch dex aggregator basically scans the myriad of dex platforms like Uniswap, Sushiswap and others in order to find the lowest prices for crypto traders. The 1 inch challenge protocol has its own native governance token and it is also used for staking.

On Tuesday, Bitpay, the world’s largest crypto payment provider, revealed that the company has partnered with 1inch and the protocol is now available to Bitpay wallet users. The integration means that users accessing the Bitpay wallet can use the 1 inch aggregation feature without leaving the wallet.

CEO of Bitpay: “We wanted to offer users a safe and secure way to interact” with the Defi applications

Bitpay CEO and co-founder Stephen Pair explained on Tuesday that challenge protocols and decentralized applications (dapps) are popular among Bitpay’s user base.

“We wanted to provide a safe and secure way for users to interact with them,” Peer said in a statement. “The Bitpay wallet app allows our power users to spend, store and manage crypto and the support for the 1 inch dex aggregator allows users to quickly get the best crypto exchange rates.” , added Pair.

Support for the Bitpay wallet follows a 1-inch announcement that the protocol would use the Ethereum ‘optimistic bundles’ scaling solution through the Optimism Gateway. Sergej Kunz, the co-founder of 1inch Network believes that the partnership with Bitpay will bring a greater accessibility challenge to users around the world.

“As the challenge services gradually move towards mass adoption, it is important to offer access to the 1-inch aggregation to as many users as possible,” Kunz noted during the announcement.

Tags in this story

1 inch network, 1 inch protocol, BitPay, 1 inch Bitpay, Bitpay Wallet, dApps, decentralized applications, decentralized finance, DeFi, accessibility challenge, Defi Apps, defi services,, Dune Analytics, ERC20, ERC20s, ETH, Ethereum , Ethereum (ETH), Optimism Gateway, optimistic totals, Sergej Kunz, Stephen Pair, Wallet

What do you think about Bitpay adding 1 inch network support to Bitpay wallet so users can access the challenge? Let us know what you think of this topic in the comments section below.

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