1inch Co-Founder Sergej Kunz: 1inch Innovates in the Intent Domain Combining 1inch Fusion and Atomic Exchange
On October 31st, Sergej Kunz, co-founder of 1inch, spoke on “Exploring Cross-Chain Exchange: 1inch Fusion+simplified” at Chainlink's SmartCon 2024 Hong Kong conference. Sergej Kunz explained that in contrast to conventional trading, intentional trading involves users confirming their intent, and then professionals defining a strategy and executing the relevant transaction. The benefits of intent include optimized decision making, improved risk control, more advanced financial decision making, efficiency and automation, enhanced user experience, and the potential for better rates.
Web3 Liquidity fragmentation across systems and TBV of the Ethernet ecosystem (including each L2) from 2023 onwards is around $70 billion. In cross-chain scenarios, there are many pain points: poor UX, different bridges for different chains, lack of transparency and liquidity, long waits, high tariffs, security risks, etc.
In the intent area, 1inch's innovative attempt is to combine 1inch Fusion with atomic exchanges to be efficient, scalable, competitive, and license-free. The two main use cases are limit orders and swaps, and to date, Fusion has carried $34 billion in transaction value and limit orders about $29 billion.
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