Running Binance Smart Chain (BSC) held in September 2020. Unlike the Binance Chain blockchain, BSC allows smart contracts to be deployed. At the same time, the network has a large bandwidth, and transaction fees remain low. 1inch CEO and co-founder Sergey Kuntz stressed:
“We see a great opportunity – the 1inch Liquidity Protocol could become the largest liquidity protocol on the Binance Smart Chain, especially since it is already the most efficient automated market maker on the market.”
The DEX aggregator has already launched its 1INCH token on BSC, so users of this blockchain can apply the liquidity protocol. The 1INCH token can also be used as a gateway for interaction between BSC and Ethereum. That is, the user can “send” 1INCH tokens from the Ethereum network to the BSC.
At the same time, they will be blocked in the Ethereum network, and a similar number of tokens will be unlocked in the BSC. This allows 1inch users to enjoy popular DEXs on the Binance Smart Chain – PancakeSwap, BurgerSwap, Venus, StableSwap, and more. (Also Read: 85% of Institutional Investors Plan to Increase Investment in Crypto Assets)
To attract users, the 1inch aggregator launched a “profitable mining” program in the BNB / 1INCH pair. From February 26th, users will be able to block BNB coins and 1INCH tokens and receive rewards. The program will last four weeks.
Recall that the launch of the 1INCH token took place quite recently – at the end of December 2020. At the moment, the capitalization of the token is $ 650 million.