1inch developers will launch Mooniswap and Pathfinder algorithms on the NEAR blockchain
Liquidity aggregator from decentralized exchanges 1inch made a partnership with the Near project. The agreement involves the deployment in 2021 in this network of automatic market maker algorithms (AMM) Mooniswap and search for the best opportunities for swap tokens Pathfinder. About this FORKLOG journal was reported by 1inch representatives.
Mooniswap liquidity bullets in Near and Ethereum networks will be independent. Users will be able to use the Near Rainbow Bridge to transfer Ethereum tokens to the new blockchain.
NEAR is a platform of smart contracts based on Proof-OF-STAKE. In the work of the system, an innovative consensus mechanism called Nightshade with the Implement of Sharding is involved, due to which there are no restrictions on the network capacity in the theory. The NEAR protocol has a single environment common to all decentralized applications similar to the current architecture of Ethereum.
“The existing scaling technology on https://gagarin.news/news/the-uae-presented-the-strategy-of-the-dubai-metaverse/ the NEAR will allow the team to experiment with the cartoon and be prepared for the arrival of Ethereum 2.0 “,-said the co-founder and CEO 1inch Sergey Kuntz in a press release.
Mooniswap reduced the margin of profit of arbitrators by introducing a five -minute temporary delay in determining prices. Thanks to this approach, the market maker forces them to make transactions at less favorable prices. This adds value to liquidity suppliers. The arbitrars gets only part of the slip, the other is redirected to the common pool of liquidity suppliers.
1inch believes that Mooniswap brings liquidity to 50-200% more income to Uniswap V2.
Recall that Messari analysts suggested that 2021 will be the year of “War Platforms” due to the occurrence of Defi-extracts on blockchains competing with Ethereum.
The launch of the main Near Protocol network took place in October 2020.
Earlier, the creator of the second cryptocurrency capitalization Vitalik Buterin expressed fears that NEAR could pose a serious threat to his creation.
Launch Ethereum 2.0 will take place on December 1. By November 24, users introduced the required 524 288 ETH to the deposit contract.