Thread by @1inch

1/ 🙃 Remember we teased some major release about a week ago?

This upgrade is gonna turn the #DeFi game 🔃 upside down.

⛽️🚫 Meet #FusionMode, which enables users to place orders without paying network fees!

➡️ Read more: blog.1inch.io/the-1inch-netw…

#1inch #crypto

2/ The Fusion release is centered around the #1inch Swap Engine – a combination of existing and new tech aiming to improve the profitability and security of swaps.

The upgrade also contains major improvements to 🛡️ security, as well as updated staking contracts and tokenomics.

3/ The #1inch Swap Engine is a #decentralized trading and matching system that connects #DeFi users with practically limitless liquidity through professional market makers. 🙌 Basically, it offers users access to almost all available liquidity in the #crypto market.

4/ 💰🔨 The #1inch Swap Engine revolutionizes the execution of swaps on decentralized exchanges, offering a completely new type of decentralized order matching approach that uses the Dutch auction model, while being based on market rates and taking price impact into account.

5/ Orders are filled by resolvers – professional market makers who pay applicable gas fees, while profiting from arbitrage trading. 🧐 To become resolvers, they will need to stake $1INCH tokens and deposit a sufficient balance of $1INCH into the “feebank” contract.

6/ At the initial stages, resolvers won’t pay any fees, but, later, the #1inch #DAO might introduce a fee for resolvers. 🤩 Top five resolvers – based on the amount and period of $1INCH staking – will have priority for filling orders.

7/ ⚡️ The #1inch Swap Engine powers #FusionMode, which enables users to exchange tokens on various DEXes without paying any network fees, at the most favorable rates.

Fusion mode allows users to choose between three options: Fast, Fair and Auction.

8/ In Fusion mode, professional traders who fill users’ orders use the most efficient ways of protecting users’ trades from #MEV.

With its release, 🔁 swapping tokens directly on DEXes or on aggregators that offer no MEV protection, will no longer be a viable option.

9/ ⚒️ The #1inch Network’s governance and tokenomics have been significantly revamped, as well. Under the new governance system, users can stake their $1INCH tokens for a period ranging from one month to two years.

10/ Users who stake $1INCH tokens receive 🦄🦾 Unicorn Power.

It could be used by $1INCH stakers to participate in network governance, it could be delegated to other users and to resolvers – in exchange for rewards from resolver incentive programs.

11/ As resolvers compete for filling the most lucrative orders, there will be prioritizing based on resolvers’ delegated Unicorn Power.

✅ In addition, by staking their tokens, users contribute to the network’s overall stability.

12/ ‼️ The new system won’t allow staking tokens for periods shorter than one month, and Unicorn Power received for short-period staking won’t be sufficient to influence #DAO decisions.

13/ Meanwhile, the #1inch DAO could also create incentives for $1INCH stakers. ☝️ By the DAO’s decision, fees collected from resolvers could be distributed between $1INCH stakers, based on their commitment to the network and Unicorn Power.

14/ The Fusion upgrade takes users’ #DeFi experience to a completely new level, but the journey is far from over.

Try it out now using our 🖥️ #dApp: app.1inch.io

🍏 #1inchWallet on #iOS: apps.apple.com/us/app/1inch-d…

🤖 #1inchWallet on #Android ⬇️ play.google.com/store/apps/det…