BitPay, a cryptocurrency payment services provider, has announced it has integrated 1inch Network in the BitPay Wallet to open the 1inch DEX aggregation functionality for its users, the company told iHodl in a shared press release. BitPay CEO, Stephen Pair, says the integration comes as decentralized finance (DeFi) protocols and dApp's are becoming "popular tools for BitPay's crypto users."
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"As DeFi services gradually progress towards mass adoption, it is important to offer access to the 1inch DEX aggregation to as many users as possible," says Sergej Kunz, 1inch Network Co-Founder.
With the new addition, the wallet's users can now swap ETH and based on ERC-20 protocol tokens without leaving the application itself. The integration comes as the 1inch Network recently deployed the aggregation protocol on the Optimistic Ethereum mainnet, a Layer 2 blockchain solution.
The protocol's users can already start migrating assets to the Optimistic network through the Optimism Gateway. The new solution is compatible with MetaMask, WalletConnect, Etherscan and The Graph.
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