DEX Aggregator 1inch Network Expands Cross-Chain Swapping Capabilities by Integrating ZKsync

The integration, announced via a press release shared with CoinDesk, allows its users to seamlessly execute cross-chain swaps involving ZKsync.

Decentralized exchange (DEX) aggregator 1inch Network has integrated ZKsync, a layer-2 scaling solution for Ethereum, to enable faster and cheaper cross-chain swaps.

According to a press release shared with CoinDesk on Monday, the integration now allows 1inch users to execute cross-chain swaps involving ZKsync. The feature, which was launched in beta last September and is powered by 1inch's "Fusion+" technology, has already seen millions in trading volume, the DEX aggregator said.

"With bridgeless, trust-minimized cross-chain swaps now available on ZKsync Era, 1inch expects a notable uptick in trading volumes and user adoption," Sergej Kunz, 1inch co-founder, told CoinDesk.

1inch's system provides an alternative to traditional bridging. Instead of users having to pay for network fees themselves, these costs are covered by "resolvers." Those who wish to become resolvers must stake 1INCH tokens to gain the status, and they compete with each other to ensure users get the best possible rates.

"Lower fees, faster finality, and enhanced security should attract both seasoned DeFi users and newcomers, fueling broader market participation and liquidity growth across the 1inch ecosystem," Kunz added.

Built using zero-knowledge technology, ZKsync offers significantly lower gas fees compared to Ethereum's main network while boosting transaction speeds. Despite these speed and cost advantages, it leverages the security of the Ethereum blockchain.

The network's roadmap shows that ZKsync aims to reach 10,000 transactions per second and is exploring technologies that could potentially eliminate transaction fees in the future.

Most recently, Swiss banking giant UBS said it's testing ZKsync's technology for one of its gold-backed financial products.