1inch Network, a leading multichain liquidity aggregator, has announced the integration of Lumia liquidity network into its platform on March 18. This integration aims to enhance on-chain liquidity and provide improved pricing for 1inch users.
The highlight of the integration is Lumia’s access to centralized exchanges such as Binance, OKX, and KuCoin. By tapping into centralized exchange liquidity, Lumia aims to offer decentralized finance (DeFi) users pricing that rivals or exceeds that of centralized platforms.
Sergej Kunz, co-founder of 1inch, expressed enthusiasm about the integration, stating that 1inch strives to provide users with liquidity across the entire crypto market and welcomes Lumia as a significant liquidity source.
Lumia’s liquidity solution has been integrated with 1inch through a request-for-quote (RFQ) process. In this setup, Lumia operates as a private market maker, providing quotes to customers seeking to purchase tokens. Additionally, the integration will be further improved by extending support to 1inch Fusion, 1inch’s gasless solution. Lumia will function as a resolver, authorized to fulfill 1inch Fusion orders.
The integration is currently fully operational on 1inch Legacy and is expected to be completed shortly for 1inch Fusion, according to a 1inch spokesperson.
1inch Network aggregates liquidity from over 500 sources, facilitating more than 76 million trades with a lifetime volume exceeding $428 billion. Governed by a decentralized autonomous organization (DAO), 1inch Network is committed to offering efficient liquidity solutions to users.
Lumia, introduced by Orion DAO in February 2024, serves as a Web3 liquidity layer, bridging centralized exchange liquidity with decentralized exchange innovation. U-Chyung Lim, a former executive at Binance, joined Lumia as its chief business development officer in March 2024.
In a significant development, the Orion DAO, along with its native ORN token, will transition entirely to Lumia DAO. This decision, approved through a DAO vote, received overwhelming support, with 90% of DAO members voting in favor. As part of the transition, ORN tokens will be swapped for the new infrastructure token, LUMIA, in a 1:1 swap supported by all exchanges. This move is expected to foster greater community interaction and participation within Lumia DAO.
Get $200 Free Bitcoins every hour! No Deposit No Credit Card required. Sign Up