1inch founder Sergej Kunz told The Block that the transfer tested the transaction features for its protocol upgrade Fusion.
After puzzling users with a transaction for 11,000 ETH, 1inch founder Sergej Kunz told The Block that the transfer was conducted to test features for its protocol upgrade Fusion.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Crypto exchange 1inch sold 11,000 ETH worth around $21 million to test out new features of a protocol upgrade.on blockchain tracking tool Etherscan.
"Our team is testing the new feature in Fusion mode," 1inch founder Sergej Kunz told The Block."It’s possible to use custom preset to set duration, start and end auction amount. This kind of strategy is very helpful for rebalancing assets . Based on the results, the trade was executed with better average rate compared to just a market swap."update, which augments the exchange's Swap Engine for connecting users to liquidity providing professional market makers.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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