1inch Network

1inch is happy to present you the August digest of major news and updates.<h2 id="header-0">Updates, news and integrations</h2>Recently, <a href="https://blog.1inch.io/1inch-gas-costs-up-to-16-lower-than-competitors/" rel="noopener noreferrer nofollow">1inch Fusion demonstrated its superiority in gas efficiency</a>, using up to 16% less gas than competitors and making it a top choice for cost-effective swaps. In the complex world of DEX swaps, where gas costs directly impact final prices, 1inch’s focus on reducing gas consumption stands out. Tests revealed that 1inch outperforms competitors in various scenarios, including limit orders, where gas savings reached up to 50%. Additionally, the 1inch Router proved more efficient, requiring up to 10% less gas for predefined swap routes.The latest <a href="https://messari.io/report/state-of-1inch-q2-2024" rel="noopener noreferrer nofollow">Messari report showcases growth for 1inch</a> in Q2 &#39;24. Ethereum volume surged by 273%, daily trading volume increased by 12% and the number of transactions jumped by 59%. Additionally, activity on the Base network skyrocketed with a 280% increase. Messari, a leading provider of crypto market intelligence, highlights these metrics as key indicators of 1inch’s growing influence and efficiency in the crypto space.Meanwhile, Nicegram, the advanced Telegram-based messenger featuring AI, Web3 Wallet and Business Tools, <a href="https://x.com/nicegramapp/status/1825848400350216265" rel="noopener noreferrer nofollow">has integrated the 1inch Swap API</a> to ensure the best swap rates. Plus, the <a href="https://x.com/nicegramapp/status/1828739489893581266" rel="noopener noreferrer nofollow">Nicegram x 1inch contest</a> is now live, offering a chance to win $1,000 USDC and other great prizes. Participate now – the contest ends on September 27!In other news, 1inch launched a new post series on cross-chain swaps. The series kicks off by <a href="https://blog.1inch.io/why-is-cross-chain-important/" rel="noopener noreferrer nofollow">exploring the crucial role of interoperability in blockchain communication</a>, followed by an in-depth look at <a href="https://blog.1inch.io/cross-chain-interoperability-an-intent-based-approach/" rel="noopener noreferrer nofollow">how the intent-based approach simplifies and accelerates swaps</a>. More insights and deep dives are on the way – don&#39;t miss out!<h2 id="header-1">Events</h2>On the events scene, two impactful X Spaces discussions highlighted key developments in DeFi. The first, hosted by TrustedVolumes, explored the <a href="https://x.com/trustedvolumes/status/1826610232530743373" rel="noopener noreferrer nofollow">next generation of DeFi</a>, while the second, organized by Cointelegraph, examined <a href="https://x.com/Cointelegraph/status/1826934792916480414" rel="noopener noreferrer nofollow">the future of primary markets</a>. Both events featured insights from top Web3 professionals, including 1inch experts.Additionally, <a href="https://www.youtube.com/watch?v&#61;Im9J_I6Ro1g" rel="noopener noreferrer nofollow">the full video</a> of Sergej Kunz’s presentation on the future of scalability with restaking at Infra Day in Brussels is now available on YouTube. In this presentation, he delves into the rapidly developing field of restaking technologies and solutions, offering valuable insights from the event organized by Epic Web3.<h2 id="header-2">Key stats</h2>TOTAL: $524.2B in volume, 107.1M swaps, 17.4M wallets1inch Fusion: $31.6B in volume, 3.5M swaps, 937.5K walletsEthereum: $400B in volume, 20.8M swaps, 3.6M walletsBNB Chain: $46.8B  in volume, 30.3M swaps, 6M walletsPolygon: $27.2B in volume, 24.7M swaps, 3.2M walletsArbitrum: $26.6B in volume, 11.4M swaps, 1.9M walletsOptimism: $7.1B in volume, 3.5M swaps, 783.8K walletsBase: $5.6B in volume, 9.2M swaps, 1M walletsAvalanche: $8.5B in volume, 3.2M swaps, 699.6K walletsFantom: $1.5B in volume, 1.6M swaps, 170.7K walletsGnosis: $789.8M in volume, 2.5M swaps, 108.8K walletsStay tuned for more exciting news and announcements from 1inch!

1inch monthly digest: August 2024

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