1inch Network has introduced a new update for its Swap Engine, called Fusion to solidify its role as a leading DeFi aggregator.
The company’s Fusion update aims to enable crypto investors to access safe, profitable, and dependable crypto exchanges at lower costs.
The upgrade to 1inch’s Swap Engine is required to enlarge the potential for revenue, keep users’ funds secure, and enable users to experience the DeFi sector in a seamless way. The network’s Swap Engine connects decentralized finance users and offers liquidity for cryptocurrency trades by leveraging professional market makers, functioning as a backend system for decentralized matching and trading.
Wishing to take a step away from the centralized system’s standards, 1inch’s latest update allows investors to perform noncustodial swaps in a secure way, without needing to trust any third party. As a result, the subsequent crypto transactions happen in a completely autonomous and trustless manner.
1inch’s decentralized order-matching method is modeled after the Dutch auction model. The latter occurs by setting a ceiling price for a certain asset, starting the auction at its higher level, and then lowering the price gradually, until bidders are comfortable to accept the price. This method enables users of DeFi to discover the best possible rates when using 1inch to transact.