1inch Integrates ZKsync to Enhance Cross-Chain Swaps Efficiency
1inch Network has integrated with ZKsync, a layer-2 scaling solution for Ethereum. This collaboration enhances cross-chain swaps, enabling faster and cheaper transactions for cryptocurrencies, NFTs, and digital collectibles.
Key Developments
- Integration aims to improve transaction speed and reduce costs via zero-knowledge rollups (ZK-Rollups).
- 1inch's existing relationship with ZKsync facilitated this integration.
- Users can access faster transactions through the 1inch dApp and Wallet.
- Cross-chain swap feature is in beta, having facilitated millions in trading volume.
ZKsync’s Goals
- 1inch anticipates increased adoption and trading volumes from ZKsync integration.
- Costs for swaps are shifted to resolvers, who stake 1INCH tokens for competitive rates.
- ZKsync plans to eliminate gas fees and scale up to 10,000 transactions per second.
This development represents a significant step towards more efficient DeFi transactions across multiple networks.