1inch Exchange Announces Simple Mode Swap Interface in a Bid to Capture More DEX Users

The new interface will offer users a straightforward user interface that offers an easier-to-use alternative to Uniswap.

By
Utulu Hope
on
July 28, 2021
Category:
Blockchain News

Introducing The Simple Mode Swap Interface 

1inch Exchange has introduced a new, improved, Simple Mode Swap interface to entice more users to use its Decentralized Exchange (DEX) protocol. The Simple Mode Swap interface seeks to streamline user experience in an effort to capture a greater market share.

The protocol broke the news in an official Medium post on 27th July 2021 and via Twitter. 

“In a bid to make users’ experience greater, the 1inch Network is glad to announce the release of a new swap UI — the Simple Mode for the 1inch dApp,” the blog post stated. 


What Does Simple Mode Swap Offer Users?

The Simple Mode Swap interface will offer users/traders a straightforward way to swap tokens with the highest degree of user-friendliness. According to the blog post, the new interface will provide users with the best DEX in situations.

1Inch insures the largest proportion of swap volume is aggregated to the best price. The protocol is a leading DEX aggregator in the Decentralized Finance (DeFi) market, with more than 70% of the DEX aggregation market share. 

Source

1inch Offers an Alternative to Uniswap, Including a Permit Feature

The new swap model comes with a “permit feature” that facilitates swapping of ERC-20 tokens, which supports EIP-2612 without an extra unlock transaction. More details about the permit feature can be read in their permit article. However, the most crucial aspect of the new swap UI is that it is an efficient alternative to Uniswap DEX.

Co-founder of the 1inch network, Sergej Kunz, talked about using the Simple Mode Swap as an alternative to established DEXes.

“Due to the most recent events in the Defi space, the existence of efficient alternatives to the established DEXes becomes more and more vital,” Kunz said in the Medium post. “And, as a leader in the DEX aggregation segment, 1inch is now offering such an alternative to the global DeFi community.”

The new swap interface will be very effective for users of Uniswap. This is because it has a feature for Uniswap-only aggregation. More specifically, it gives users room to use any Uniswap version, unlike the Uniswap protocol that only facilitates version 3. 

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Utulu Hope

UC Hope is a passionate fan of crypto who could weave the latest event into sparks of inspiration and information. He leaves no stone unturned to get to the core of a story. Aside from writing, he spends his hours poring over algorithms and protocols, preparing for a future career as a computer programmer. He hodls mostly in Ethereum, BNB, and, Avax.

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