1inch Network, a multichain liquidity aggregator, has integrated with Lumia, a liquidity network, to enhance on-chain liquidity and offer better pricing for its users. The integration, announced on March 18, highlights Lumia’s access to centralized exchanges like Binance, OKX, and KuCoin. By expanding liquidity, decentralized finance (DeFi) users can now enjoy pricing that matches or even surpasses that of centralized platforms.
Sergej Kunz, co-founder of 1inch, explained that Lumia’s liquidity solution has been implemented through a request for quote process. This process involves customers requesting quotes from market makers to purchase tokens. In this case, Lumia will act as a private market maker. The integration will also be strengthened through its expansion to 1inch Fusion, a gasless solution developed by 1inch. Lumia will serve as a resolver, filling 1inch Fusion orders as an approved address.
According to a 1inch spokesperson, the integration is currently fully functional on 1inch Legacy and will soon be completed for 1inch Fusion.
The 1inch Network sources liquidity from 500 different platforms, with over 76 million trades and a lifetime volume of more than $428 billion. The network is governed by the 1inch decentralized autonomous organization (DAO), which made headlines in January 2024 by becoming the first DAO to hire a permanent legal team through a voting process.
Orion DAO introduced Lumia, its Web3 liquidity layer, in February 2024. It positioned Lumia as a go-to liquidity source for businesses, bridging the gap between the vast liquidity of centralized crypto exchanges and the innovation of decentralized exchanges. In March 2024, the company hired former Binance executive U-Chyung Lim as its chief business development officer.
Kal Ali, co-founder of Orion Protocol, confirmed that the Orion DAO and its tokens will fully transition to Lumia. The decision was made through a DAO vote, with 90% of members voting in favor of the transition. The native ORN token will be swapped for the new infrastructure token, LUMIA, in a 1:1 swap supported by all exchanges.
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