Neutrino, WAVES announced integration with 1inch, an aggregator of decentralized exchanges in the Ethereum ecosystem.
Neutrino, the largest DeFi protocol in the WAVES ecosystem, announced its integration with 1inch, an aggregator of decentralized exchanges in the Ethereum ecosystem. Now, Waves tokens and blockchain functionality will be available to users of exchanges such as Uniswap, Curve, Balancer and others. As part of an effort to activate multiple chains, the Neutrino protocol will move its functionality to Ethereum, the largest DeFi community to date, as a key strategic first step. Listing USDN at 1 inch will give users access to USDN and its staking rewards as well as the upcoming Neutrino decentralized Forex product. This integration enables a 1inch team to support the gravity node. Gravity, a blockchain-independent and token-independent interoperability protocol, will connect 1 inch to the infrastructure of new ecosystems other than Ethereum, allowing it to act as a reliable interchain transfer provider as soon as the Gravity core network is released. The first and most famous activation product based on the Neutrino protocol is Neutrino USD (USDN). USDN's current market capitalization is just over $ 20M, with around 5,000 active Neutrino dApp users. 1inch Decentralized Currency Aggregator acquires liquidity from various exchanges to get the best exchange rate by splitting a single trading transaction into multiple DEXs. The key R&D issue to be solved by the collaboration of 1inch, Neutrino and Waves is the integration of PoS-blockchain-specific external staking rewards in Ethereum, which will be automatically collected by the liquidity pool owners. The most useful feature for an ERC20 USDN user is the ability to collect rewards from USDN stackable on the Waves blockchain. ERC20 USDN holders who have purchased a token on services such as 1 inch, Uniswap, Curve, Balancer, Bankor etc. can simply store ERC20 USDN in their wallet (e.g. Metamask) and staking rewards are automatically added to their account balance.