Non-custodial wallet platform Wirex has partnered with 1 Inch Network to use its aggregation API to power token swaps. Through the partnership, users of Wirex Wallet will be able to exchange tokens within the wallet.
In an announcement, Sergej Kunz, co-founder of 1 Inch Network, said that the partnership will allow members of the Wirex community to swap their tokens on multiple blockchains. Using a search algorithm that finds swapping routes, 1inch will let Wirex users find the optimal trading rates for their swaps. Kunj also said that the partnership is a move that allows the adoption of 1-inch platforms for its solutions.
According to Wirex co-founder Pavel Matveev, the 1-inch integration is one way for his project to give his users access to decentralized finance (DeFi). Matwave believes that with the functionality available in their wallet, users will be able to save time and money when swapping their assets.
According to the Wirex team, the partnership with 1inch is in line with their effort to expand into new blockchains such as Avalanche (AVX), Polygon (Matic), BNB Chain (BNB) and Phantom (FTM).
related: Nifty News: Yuga Labs Buys Cryptopunks, 1 Inch Wallet Supports NFT & More
Meanwhile, in other parts of the DeFi world, a token bridge called Nomad has gone through a security exploit, causing nearly $200 million in losses. Some exploiters claimed to be planning to refund the money back to the Nomad team and communicated via Twitter. The Nomad team told Cointelegraph that they have already notified the authorities and are continuing to work to resolve the situation.
On the topic of decentralization, in July there was a debate on whether Solana (SOL) is decentralized or not. DeFi firm Unstoppable Finance argued that Solana is “more decentralized than people think,” given its number of validators and the Nakamoto coefficient. However, some members of the community are not convinced, believing that Solana is similar to traditional systems.
