1inch Introduces Enhanced Swap API for Accessing Tokenized Real-World Assets

1inch Elevates DeFi with New Swap API

In a groundbreaking move for decentralized finance (DeFi), 1inch, a prominent decentralized exchange (DEX) aggregator, has announced the launch of its enhanced Swap API that facilitates access to tokenized real-world assets (RWAs). This development marks a significant leap forward in making RWAs available to a broader audience through the 1inch decentralized application (dApp) and wallet.

The revamped API is designed to address one of the central challenges in the adoption of RWAs: liquidity. With the integration of this API, users can now access tokenized real-world assets with the same ease and efficiency as they do when swapping native cryptocurrencies. The technology aims to provide a seamless experience to users, thereby enhancing the overall functionality of the DeFi ecosystem.

The significance of this upgrade is highlighted by a collaboration with Ondo Finance, a leader in the tokenization space. Ondo's recent introduction of Ondo Global Markets allows users outside of the United States and other restricted areas to access a growing list of tokenized assets on the Ethereum blockchain. With an initial offering of over 100 assets and plans to expand to over 1,000 by year’s end, this partnership is set to revolutionize accessibility in the tokenization realm.

As part of the execution process, RWAs transactions on 1inch are managed by resolvers—professional market makers dedicated to ensuring a smooth and secure trading experience. This commitment to user experience extends across 1inch’s ecosystem, where all existing Swap API integrators will also gain access to RWAs for eligible users. Notably, Trust Wallet has become one of the first major DeFi platforms to adopt this initiative, providing its users with gas-free, and MEV-protected access to RWAs.

The integration of tokenized RWAs into the 1inch platform marks a significant milestone in its vision to democratize finance and unify the DeFi space. Embedding these assets within the DeFi framework enables them to be transferable and designed for broader ecosystem integration. However, the availability of these tokenized assets will be subject to legal classifications, and jurisdictional filters will restrict access in compliance with local regulations.

Sergej Kunz, a co-founder of 1inch, acknowledged the transformative potential of tokenization in the financial landscape, asserting that it represents the technological advancements of tomorrow which are being embraced today. “We’ve tackled one of the key barriers to this transition—fragmented liquidity. By enhancing the 1inch Intent-based Swap API, we’re now able to provide jurisdiction-aware access to tokenized assets, significantly lowering barriers and enhancing access wherever possible,” Kunz stated.

In support of this sentiment, Ian De Bode, Chief Strategy Officer of Ondo Finance, remarked on the essential role of the 1inch Swap API in powering Ondo Global Markets. He emphasized the API's capacity for efficient transactions within the decentralized framework, which not only fosters deep liquidity but also promotes competitive pricing. This integration emphasizes a harmonious connection between traditional financial assets and DeFi infrastructure, ultimately driving inclusivity in the financial system.

The access to tokenized RWAs through the 1inch ecosystem is not open to everyone. Users in jurisdictions such as the United States, the United Kingdom, and several restricted areas may find that their access is limited. Furthermore, the availability of tokenized assets is contingent upon the issuers' classifications, local regulations, and implemented risk filters, ensuring that only eligible users can access RWAs in a compliant manner.

In Conclusion

By continually innovating its platform and offerings, 1inch is positioning itself as a leader in the realm of decentralized finance, providing an uncomplicated yet effective trading experience for its users. As the crypto landscape continues to evolve, advancements such as the new Swap API will play an integral role in shaping the future of financial accessibility and inclusivity. With a user base of 24 million and transactions totaling $500 million daily, 1inch remains dedicated to simplifying DeFi and making it accessible to all participants, regardless of their geographical location.