The new router features a number of updates, including an improved smart contract error processing system.
According to 1inch, users’ gas costs for swaps will be at least 10% lower than its previous offerings in the DEX segment, thereby, making swapping activity on the Ethereum network more profitable for its users. In the Router v5, 1inch estimated that swaps will be approximately 5% more gas efficient than in the previous version, and 10% more gas efficient, compared to the second best performing player in the DEX segment.
New features and improvements made to the Router v5 from previous routers include; a new interaction logic, pre-/post-interactions, and an improved smart contract error processing system. The new edition is also meant to prioritize security and has been audited by almost a dozen industry projects, such as Consensys, OpenZeppelin, and ABDK Consulting.
Sergej Kunz, the co-founder of 1inch Network, shared with Cointelegraph:
“It’s been almost a year since the 1inch Router v4 was released, and during that time we have accumulated enough improvements for the new fifth version. […] We have optimized gas costs even better, so now our users will save at least 8-14% more than using any other DeFi product.”
Related: 1inch wallet users get domain names with Unstoppable Domains partnership
At the beginning of the year, Cointelegraph reported that the 1inch Network would deploy the 1inch Aggregation Protocol and the 1inch Limit Order Protocol on Avalanche and Gnosis Chain, formerly known as the xDai Chain.
In August, 1inch integrated with South Korea’s most popular metaverse blockchain, Klaytn, to provide its user base, access to the 1inch Limit Order Protocol v2, as well as provide deeper liquidity and improved token swaps via the 1inch network.
Decentralized exchange (DEX) aggregator, 1inch, is set to release its latest router; Router v5. The company said that Router v5 promises to make users’ DeFi experience more convenient by reducing gas costs for swaps.