Through this new partnership, 1inch users will get the best rates for TRON assets. Moreover, liquidity providers on the TRON blockchain will benefit from Mooniswap’s virtual balances.
Decentralized exchange (DEX) aggregator 1inch yesterday announced a strategic partnership with one of the global most popular blockchain projects Tron Foundation to integrate JustSwap and Mooniswap.
JustSwap is TRON’s decentralized trading protocol primarily used for automated liquidity provision, whereas Mooniswap, 1inch tailored AMM.
“Thanks to the partnership, Mooniswap and 1inch users will enjoy the best-in-class advantages that come standard with TRON’s blockchain,” said Sergej Kunz, Co-Founder and CEO of 1inch. “These include faster, cheaper service, high-throughput scalability, huge developer community and a massive social media following.”
Notable Benefits of 1inch and Tron Strategic Partnership
According to the press release, the addition of Mooniswap to the TRON blockchain will help improve TRON’s DeFi ecosystem, which has seen a tremendous growth year to date.
DeFi ecosystem has seen most of its native coins shoot more than other cryptocurrencies in the past few months. According to metrics provided by DefiPulse, there are approximately $6.47 billion locked in the Defi ecosystem at the time of publication with Aave leading the pack having dominance of around 23.12%.
Through the partnership, 1inch users will get the best rates for TRON assets as they will get the support of the TRON blockchain.
On the other hand, liquidity providers on the TRON blockchain will benefit from Mooniswap’s “virtual balances”, which decreases the price change hence preventing arbitrage traders from earning up to 100% of the swap slippages and therefore dramatically increasing liquidity providers’ earnings.
Apart from the added security protocol the partnership will bring to a bigger customer base, both companies are looking to benefit symbiotically on both large customer bases.
According to the press release, since the launch of the JustSwap platform last month, it has managed to achieve a $100 million volume per day.
Tron Foundation has also pledged to reward liquidity providers on Mooniswap with TRON tokens as an additional incentive and reward system.
On the Flipside
Such partnerships are steering forward global crypto adoption in a healthy competitive way. Consequently, crypto customers globally are going to largely benefit as the blockchain interoperability enhances the blockchain overall capabilities.
1inch is a decentralized exchange aggregator that was launched in May 2019 to source liquidity from various exchanges and split a single trade transaction across multiple DEXs.
The company recently surpassed $2.4 billion overall trading volume, hence making it a major player in the cryptocurrency industry.
Notably, 1inch has managed to integrate support for top DEXs including Uniswap, Kyber Network, AirSwap, Oasis, Bancor, Balancer, Curve, and many more.
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