1inch Upgrades Algorithm for 6.5% Better Swap Rates

1inch, a decentralized exchange aggregator, has deployed an update for its price route discovery algorithm, claiming up to 6.5% better swap rates. The upgrade, named "Pathfinder," is designed to enhance the efficiency and cost-effectiveness of transactions on the platform. This update consolidates specific swap steps and maximizes the use of concentrated liquidity, promising better gas efficiency. A representative from 1inch highlighted that the improvements in gas efficiency aim to lower the barrier to entry for retail investors, encouraging more frequent usage and building trust in DeFi platforms, thereby making DeFi more accessible.

The new upgrade also includes enhanced visualizations on the decentralized application (DApp), providing users with insights into token and transaction execution. Sergej Kunz, co-founder of 1inch, stated that the update enables users and integrators to maximize the value of every trade and cut gas costs. This focus on user experience and efficiency aligns with 1inch's broader strategy to attract more users to its DeFi ecosystem.

Following the launch of 1inch on Solana at the end of April, the platform now enables users to trade over one million Solana-based tokens directly through 1inch. The team also revealed plans to roll out cross-chain functionality, allowing swaps between Solana and more than 10 other networks supported by the aggregators. However, there is still no fixed launch date for this feature. Additionally, in early May, the platform successfully recovered most of the $5 million stolen in a recent exploit after negotiating a bug bounty agreement with the attacker, demonstrating 1inch's resilience and proactive approach to security.

1inch aims to win an increasingly large slice of the DeFi market by implementing gradual improvements. A representative noted that these features help 1inch outperform competitors in swap efficiency and gas savings. By focusing on dynamic aggregation across ecosystems, 1inch positions itself as more adaptable and attractive to users and integrators alike, setting it apart from rivals that focus on single-venue liquidity.

In summary, 1inch's latest upgrade promises faster, smarter, and cheaper trades, with up to 6.5% better swap rates. This enhancement reflects the platform's commitment to innovation and user satisfaction, positioning it as a competitive player in the DeFi ecosystem. As the DeFi landscape continues to evolve, 1inch's focus on technological advancements and user experience will be crucial in maintaining its leadership position.