DEX Aggregator 1inch’s Latest Feature Enables Everyone to Transact Privately
DEX aggregator 1inch.exchange announced a new “killer” feature of private transactions on late Friday or early Saturday.
To allow everyone to transact privately, 1inch will connect the user straight to their miner network instead of getting them waiting in mempool. However, the feature isn’t supported on Metamask.
“No more front-running,” tweeted the exchange as it stated, “We are now connected to 10 Ethereum miners in order to broadcast user transactions directly to the miners,” in order to reduce the transaction mining time.
Pantera’s Director of Platform, Franklin Bi, congratulated the 1inch team for pushing this new feature to save cost and preserve privacy for their users. He called this development “game-changing for both power users and casual traders on 1inch.”
Pantera Capital is the lead investor of 1inch’s Series A funding round of $12 million. The DEX aggregator team shared this week that this recent round of funding is a “vital step in our mission to create meaningful innovations for the world of decentralized finance.”
In the 17 months since its launch, the aggregator has been recording a cumulative trading volume of almost $6.6 billion and a daily trading volume of over $80 million. During this time, the 1inch team has also scaled to 16 people.
“We’re excited to back the 1inch team on their journey to raise the bar for decentralized finance,” said Pantera Capital in its investment announcement.
At the time, it has also been shared that the 1inch team has expanded its product suite to include a next-generation AMM protocol, and native token with yield farming and lending protocols are on the way.