Network based systems

1inch Network launches spot price aggregator


The 1inch Network DeFi project has unveiled a spot price aggregator. The solution allows token quotes to be displayed “immediately” in website and app interfaces, team representatives told ForkLog.

The tool provides a liquidity-weighted average of a token’s price across multiple DEXs.

According to the team, the need for a solution arose from a specific problem: not all 1-inch aggregate tokens are supported by existing price reporting systems.

The Spot Price Liquidity Aggregator interacts with various DEXs via smart contracts to obtain information from the blockchain “immediately”. If there is no direct pair between two tokens, the tool calculates the data using an intermediate asset.

According to the project team, the main advantages of their solution are:

  • no delay in displaying prices;
  • Extensive DEX support on Ethereum, Binance Smart Chain, Polygon, Avalanche, Optimistic Ethereum, Arbitrum, and Gnosis Chain.

Potential use cases for new aggregator crypto wallets, price trackers, and portfolio managers were named by 1inch.

Recall that in February, the project launched the 1inch Earn investment product based on the concept of concentrated liquidity.

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