- This is a new tool on the platform for efficient trade-based transactions
- Fusion allows you to sell assets at a higher average price than a typical swap
- The app also provides user protection from MEV bots
- This significant amount was tested
Some users on Twitter yesterday, July 5, expressed concern that the 1inch team transferred 11 thousand ETH for $21 million. A spokesperson for the aggregator hastened to reassure the audience, noting that this was an internal test of the Fusion update.
According to Etherscan, the transaction took place yesterday, July 5, in the afternoon. According to public information, the administration withdrew 11 thousand ETH from 1inch: Team Investment Fund Collection, transferred the funds to a router, and then to a third-party wallet.</nbsp;
This is how 1inch co-founder Sergey Kuntz commented:
“Our team is testing a new feature in Fusion mode. With this tool you can use custom presets to select the duration, starting and ending price of the auction. This strategy is useful for rebalancing assets of funds and large organizations. As a result, the deal was done at a better average rate than a regular swap.”
For more information about this decision, visit the aggregator’s official website. It is a platform for efficient large transactions with a built-in auction and single liquidity.</nbsp;
The tool provides protection against MEV bots, has flexible customization and does not require the trader to keep native tokens to pay gas fees.</nbsp;Recall, earlier the platform added the ability to make payments through link requests. The project also announced a partnership with DEX Lighter.xyz.
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