Dex aggregator 1inch Network obtains $ 175 million in series B financing round-Defi

1inch Network, the decentralized Exchange (Dex) aggregation project, has announced that the company has raised $ 175 million in a series B financing round. According to the announcement, the fresh new capital is used to scale the team, promote additional 1-inch token service programs and create new logs.

1inch collects $ 175 million from strategic investors

Last year, the decentralized finance (Defi) has moved into the spotlight, since a large number of Dex platforms users now offer the opportunity to act decentrally and provide liquidity. 1 inch network offers users the opportunity to get a better exchange rate, since the aggregation platform combines several DEX change courses to find the cheapest alternative. In addition, 1inch has spread even more by supporting five different blockchains, to which Ethereum ( eth ), Binance Smart Chain (BSC), Polygon (Matic) and the two rollup solutions from Optimism and Arbitrum.

The announcement sent to Bitcoin.com News explains that 1inch collected $ 175 million in a series B, led by amber group . 1inch notes that around 50 investors have contributed to this, including companies such as Vaneck, Jane Street, Nexo, Gemini Frontier Fund, Tribe Capital, Fenbushi Capital, Alameda Research and Celsius. "While 1inch keeps the existing defi audience happy through the provision of the latest products, it would also like to become a goal for institutions that want to be part of the defi room," co-founder of 1inch Network Sergej kunz said in an explanation. The co -founder added:

The next $ 1 [Trillion] of the assets that become deficient will come from institutions rather than private users, and 1inch wants to make it easier for them, "he adds." We have already started to work in this direction by gaining some key players from the traditional financial markets, and this cooperation will accelerate in the next few years.

1-inch ethereum volume exceeds $ 100 billion, "the next phase of Defi will be a seamless access to various protocols and chains"

To the present day, according to Dune Analytics, 1inch Network has exceeded a total volume of around $ 100 billion in the Ethereum network Statistics . Metrics show that 1inch is the best Dex aggregator, followed by 0x API, Matcha, Paraswap and Gnosis Protocol. Metrics also show that there are almost one million 1-inch network users on Ethereum today. According to 1inch, the goal of the investment round was originally $ 70 million, but after a few developments, it was decided to have the financing round swell to $ 175 million.

"An important part of the next defi phase will consist of enabling investors seamless access to liquidity across various protocols and chains," explains Amber Group tiantian Kullander on Wednesday. 1inch has one of the best teams that build between fragmented liquidity pools at the forefront of bridges, enable cost savings and optimize the pricing for all participants, ”added Kullander.

What do you think that 1inch Network spends $ 175 million in a round of financing in Series B? Let us know your opinion on this topic in the comments below.

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