1Inch Exchange Integrates ZkSync-powered Layer 2 Scaling Solution of Polygon
We are excited to announce a new partnership between 1Inch and Polygon, the former known for providing an innovative decentralized exchange protocol and the latter being Ethereum’s most popular scaling solution. This collaboration enables seamless integration into the 1Inch Exchange of ZkSync, Polygon’s Layer 2 scaling solution.
The new partnership enables users to enjoy lightning-fast transactions over ZkSync and other Layer 2 solutions to enable low-cost, high speed and extremely secure trading on 1inch Exchange.
Integration of ZKSYNC will provide 1 inch users access to a suite of Polygon-based DeFi services including ETH & ERC20 token transfers with zero gas fee, no minimum deposit and withdrawals. Furthermore, it will also facilitate ZK-rollups including ZKVM which offers a broad range of use cases like near instant non-custodial exchanges, auctions, payment channels, games etc.
The high throughput enabled by ZKSYNC offers latency of about 200 milliseconds for trade execution and comes with an improved privacy framework compared to Ethereum’s Layer 1 EVM as it can keep user's data encrypted. Privacy is further enhanced via the applications built on top of it like Staking facilities and DeFi payment channels.
"Integrating layer two protocols such as Polygon into our existing products has been at the core of our mission since day one," said Sergej Kunz, CEO of 1inch.exchange
"We believe that this collaboration will open up exciting possibilities in regards to providing better cost efficiency and scalability for traders across our platform."