Dubai – 25, August 2023: Decentralized protocol powerhouse the 1inch Network has been announced as the official sponsor of the highly anticipated 2023 edition of the Future Blockchain Summit from October 15 to 18 at Dubai Harbour.
“This is a major global event for the space, with Dubai as one of the established blockchain centers. We hope that our participation will come as another step towards wider adoption of blockchain products,” says 1inch Network Co-Founder Sergej Kunz.
From a humble hackathon prototype to a major force in decentralized finance, the 1inch Network has achieved remarkable success. Initially started as a passion project by two developers, it is now recognized for its ground-breaking contributions to the blockchain ecosystem.
The collapse of cryptocurrency exchange FTX in November 2022 has placed the spotlight firmly on decentralized networks as a potential answer to making crypto networks more resilient, according to Sergej. “There is no middle man; there is no single point of failure. It is just a smart contract that is fully audited.”
The 1inch Network is redefining the DeFi space by providing access to hundreds of liquidity sources across multiple chains and ensuring cost-efficient and secure swap transactions. Powered by the 1inch Swap Engine, 1inch’s newly-launched Fusion mode enables users to swap tokens without paying any network fees and at the most favorable rates. In addition, Fusion mode offers users extra MEV protection. All swaps in Fusion mode are executed by resolvers – professional traders, who use the most sophisticated and efficient ways of protecting users’ swaps from MEV.
Commenting on how the 1inch Network has benefited the ordinary person in the street who has not necessarily encountered the crypto world before, Sergej explains that with the 1inch Wallet, users can store, receive, send, and swap crypto assets seamlessly.
Future Blockchain Summit continues to cement its position as a leading platform for showcasing cutting-edge blockchain solutions. For more information about the upcoming event, visit our website.
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