After the popular decentralized exchange 1inch (1INCH) sold millions of dollars worth of Ethereum (ETH), all eyes were turned to the reason behind it.
Decentralized exchange (DEX) by 1inch made installed Ethereum sale attracted attention. According to on-chain data provider Etherscan 1inch, around June 5 21 million dollars worth Sold 11k ETH.
1inch co-founder speaking to The Block shortly after the sale Sergej Kunzthe said transaction belongs to the protocol “Fusion” stated that it was carried out for testing purposes.
In the statement made by Kunz, this new feature will be more effective in trading. affordable transaction fees And low slip rates It was highlighted that:
Our team is testing the new feature in Fusion mode. It is possible to use custom presets to set the duration, start and end auction amount. This type of strategy is very useful for rebalancing assets. According to the results, our transaction was performed with a better average compared to the average market buy-sell.
Launched in December, the Fusion upgrade brings uninterrupted liquidity, strengthening the swap mechanism And additional security notable for features such as