1inch Network, a decentralized finance (DeFi) aggregator, has made an announcement about a significant upgrade to its 1inch Swap Engine called Fusion. The purpose of the Fusion update is to provide crypto investors with swaps that are lucrative, safe, and efficient with their money.
According to the company, the 1inch Swap Engine makes it possible for users of DeFi to participate in Fusion mode, which enables users to submit orders with a predetermined price and time period without having to pay any network costs. While this is going on, the upgrade also includes significant enhancements to the system’s security, along with revised staking contracts and tokenomics.
According to Sergej Kunz, co-founder of 1inch Network, this is a significant advancement for the whole DeFi area. He went on to say that fusion makes swaps on 1inch far more cost effective, since customers won’t have to pay network costs. Additionally, he said that an additional layer of protection was introduced, safeguarding consumers against sandwich attacks.
“Our aim is to make users’ DeFi experience as smooth as never before. Thanks to the 1inch Swap Engine and Fusion mode, now, everyone gets incredible UX with a high degree of security.”
In addition, the Fusion mode offers protection against the maximum extractable value (MEV), which is the maximum value that can be extracted from block production in addition to the standard block reward and gas fees. The MEV refers to the maximum value that can be extracted from blocks produced in excess of the standard block reward and gas fees.
In conjunction with the update, 1inch introduced the 1inch Resolver Incentive Program. This program will assist resolvers in obtaining a reimbursement on the gas that they used while fulfilling customers’ orders in Fusion mode up until the end of the year 2022.