Integrate 1Inch Protocol into Trust Wallet
Proposal Summary
1Inch is a DEX aggregator that identifies the best asset prices across several liquidity sources. This proposal outlines a plan to integrate the 1Inch Aggregation Protocol into Trust Wallet to enable EVM-compatible asset swaps, along with the benefits of doing so.
What is 1Inch?
The 1Inch aggregation protocol scrapes DeFi exchanges across Ethereum, Binance Smart Chain, and Polygon and identifies the lowest-cost way to execute a given trade net of slippage and fees. This may involve swapping an asset for several intermediary assets before arriving at the desired asset.
1Inch also has a governance token called 1INCH which can be used to affect how the platform is run. 1INCH is traded on several exchanges including, Binance, Coinbase, KuCoin, Huobi, FTX, and OKEx, and can also be earned by providing liquidity into the platform’s liquidity pool.
Implementation Details
1Inch protocol will replace the existing swap functionality in Trust Wallet which is currently powered by a combination of Uniswap and Pancakeswap.
Benefit to Trust Wallet
With this integration, Trust Wallet users will be able to swap between ERC20/BEP20/Polygon assets natively in the app. Additionally, 1Inch’s broad coverage means a greater number of swappable asset pairs, smaller slippage, and lower prices and fees compared to the current swap mechanism. At a technical level, implementation of 1Inch protocol means a reduction of code complexity and reduces future maintenance overhead.
Additional Resources:
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x1720...75cAdD | 4.412M | Yay |
 0x96A6...1eB7FB | 1M | Yay |
 0x4915...8EA94a | 821,546 | Yay |
 0xE213...494f40 | 816,201 | Yay |
 0xA96b...Ba1490 | 482,132 | Yay |
VOTE POWER
Proposal Status
- Tue August 31 2021, 04:00 amVoting Period Starts
- Tue September 07 2021, 04:00 amEnd Voting Period
Current Results
1-Yay
27.243M
2-Nah
5,650.429