Giant Altcoin Released Its New Update: Here’s The Reaction Of The Price!

Decentralized exchange (DEX) aggregor altcoin system 1inch Network (1INCH), launches its highly anticipated new update, Fusion.

The Fusion update focuses on the 1inch Swap Engine, a combination of existing and new technologies aimed at improving the profitability and security of swaps.

1inch Founder Explained About the Update

The 1inch Swap Engine enables the Fusion mode, which allows DeFi users to place orders within a specified price and time range without any network fees. Meanwhile, the update also includes updated staking contracts and tokenomics as well as significant improvements in security.

Sergej Kunz, co-founder of 1inch Network, said:

“This is a big step forward for the entire DeFi space. Fusion makes swaps over 1inch significantly more cost-effective as users don’t have to pay network fees, plus an extra layer of security is added to protect users from sandwich attacks.

Our goal is to make users’ DeFi experience smoother than ever before. Thanks to the 1inch Swap Engine and Fusion mode, everyone now gets an incredible user experience with a high degree of security.

people over the years crypto coins, some of them entrusted them to central organizations that turned out to be greedy and malicious, resulting in huge losses in users’ funds.

In contrast, 1inch now provides everyone with the ultimate security for non-custodial swaps that are performed in a completely permissionless and trustless manner, where users retain full control of their assets.”

1inch Network’s management and tokenomics system has also been significantly renewed. Under the new management system, users can stake 1INCH tokens for a period ranging from one month to two years.

1/ 🙃 Remember we teased some major release about a week ago?

This upgrade is gonna turn the #DeFi game 🔃 upside down.

⛽️🚫 Meet #FusionModewhich enables users to place orders without paying network fees!

➡️ Read more: https://t.co/bniaJKEWnp#1inch #crypto

— 1inch Network (@1inch) December 25, 2022

Users who deposit 1INCH tokens will receive Unicorn Power. This can be used by 1INCH stakers to participate in network administration, transferable to other users and resolvers in exchange for rewards from resolver incentive programs.

The new system will not allow staking of tokens for periods of less than one month and will not be sufficient to influence Unicorn Power DAO decisions for short-term staking.

*Not investment advice.