Decentralized exchange (DEX) aggregator 1inch Exchange launched its service on Binance Smart Chain (BSC).
1inch expands to Binance Smart Chain
1inch Foundation deployed its DEX aggregator and liquidity mining platform to Binance Smart Chain. The exchange was first launched on Ethereum in August 2020, allowing users to access DEXs such as Uniswap, Balancer, Sushiswap, Mooniswap, and more.
However, rising fees on Ethereum made these platforms extremely expensive for small-scale investors. Now, 1inch aims to offer the Binance Smart Chain (BSC) platform to overcome these fees.
“He sees this step as an important opportunity to become the largest liquidity protocol in Binance Smart Chhain,” says Sergey Kunz, co-founder and CEO of 1inch.
Other BSC-based decentralized exchanges have become a success. For example, Pancakeswap reached a higher volume than the Ethereum-based DEX last week. Currently, it’s the third largest DEX by volume, according to CoinGecko.
Other key DEXs on Binance Smart Chain include BurgerSwap, StreetSwap, Venus, StableSwap, and JulSwap.