1inch Network, a protocol which unites decentralized project protocols, launched a spot-price aggregator to extract information for assets traded on DEXs of the blockchain. This tool calculates the liquidity-weighted average token spot prices. 1inch recommends using the tool off-chain to avoid any issues with transactions.
The 1 inch’s Latest Instrument
CryptoPotato recently saw 1inch explain that the spot price aggregater aims to solve information-related tasks. This includes visualization of asset valuations taken from the blockchain and displayed in interfaces to websites and applications.
It consists of smart contract that interacts with decentralized exchanges in order to receive spot prices token liquidity-weighted. Wrapped assets like wETH, CDAI, ADAI and many more can be handled by the instrument.
If there is no liquidity between assets, the spot price aggregater calculates rates for coins that use connector tokens.
This feature supports multiple DEXs on Ethereum and Binance Smart Chain, Polygon. Avalanche. Optimistic Ethereum. Arbitrum. The team stated that while other similar solutions may take several minutes to display a token’s value, 1inch’s tool displays it immediately.
Already, the 1inch dApp interface as well as the Pathfinder algorithm use the tool. Technically, the spot-price aggregator could easily be integrated into any place that displays a token price and must be converted to US dollars or another fiat currency.
There are many possible uses for it, which allows investors to see the value of their tokens. The team recommended that traders use the 1inch Aggregation Protocol (API) if they want to perform more complicated tasks.
The Past Investment Solution
The protocol launched 1inch Earn, an investment tool that aims to boost liquidity providers earlier this month. This feature is intended to make capital more efficient than Automated Market Maker pools (AMM). Because 1inch Earn is integrated in the 1inch Pathfinder algorithm, the team claimed that it provides “deep liquidity at all points”.
Since September 2021, the 1inch Network Treasury has been using the concept of the instrument under the name Trading Strategies.
The protocol’s creators hoped that 1inch Earn would improve governance and decentralization across the network.
“The launch and success of 1inch earn is a significant step in improving the sustainability and governance of the network, as well as providing a means for users to make a hefty income.
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