The 1inch Foundation has recently launched its exclusive 1INCH token at the Binance Smart Chain. Binance Smart Chain is the renowned, community-driven, Blockchain-based software system launched by Binance in September 2020. Today, the two remarkable protocols of the 1inch Foundation, the 1inch Liquidity Protocol and the 1inch Aggregation Protocol, are available for access at the Binance Smart Chain. Of late, Binance Smart Chain has showcased a high level of activity, thereby leading to the advent of DEXes. It is a known fact that 1inch is always striving to rope in more DeFi projects, and so incorporating the DEXes of the Binance Smart Chain into the aggregation protocol of 1inch has been a welcome move.
The 1inch token at the Binance Smart Chain serves as the bridge between the Binance and Ethereum networks. As soon as the user transmits a 1inch token to the BSC, the token shall be locked at the Bridge, and the Binance Smart Chain shall unlock a corresponding value. This generation of value at the Bridge shall provide the users with access to several Binance-based DEXes and lending protocols like BurgerSwap, PancakeSwap, Venus, StreetSwap, BakerySwap, JulSwap, StableSwap, and more. There are now around ten million 1inch tokens employed for pumping liquidity into the Bridge and enabling transactions between Binance Smart Chain and Ethereum. The CEO and co-founder of 1inch, Sergey Kunz, is hopeful about making the liquidity protocol of 1inch the biggest liquidity protocol at the Binance Smart Chain.
Today, the registered users of 1inch shall be able to switch easily between Binance Smart Chain and Ethereum. Every feature of the two protocols and the staking features of 1inch are now available at the Binance Smart Chain. In the near future, Binance Smart Chain is also looking forward to launching the innovative liquidity mining program that will feature the BNB-1inch pool.