1inch Exchange Drops Costs of Swapping DAI, USDC Stablecoins
1inch Exchange, a leading DEX aggregator, has added support for MakerDAO’s Peg Stability Module (PSM). This feature allows users to swap DAI:USDC at a 1:1 ratio while charging a nominal fee of 0.1%.
1inch Adds Maker’s New PSM Vault
1inch has added support for PSM, allowing users to swap DAI:USDC at a 1:1 ratio for a minimal fee.
For example, if Alice swaps 1,000 DAI to USDC by using the PSM routing on 1inch, she will receive 999 USDC, excluding the ETH network fees.
PSM is a special vault in the MakerDAO ecosystem. It allows users to burn DAI and mint USDC, or inversely, burn USDC and mint DAI, thus making DAI more stable. This capability was voted into place in December 2020.
The MIP earned 39,997.35 MKR in favor and 471.70 MKR against, while 36.70 MKR abstained.
The 1inch Exchange has also launched its very own governance platform. After airdropping native 1INCH tokens on Christmas Day, holders can earn rewards and participate in governance proposals by staking tokens in the 1inch DAO.
Disclosure: The author held ETH, 1INCH, and DAI at the time of writing.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Source: Read Full Article