{"id":15928,"date":"2024-03-20T10:00:27","date_gmt":"2024-03-20T10:00:27","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=15928"},"modified":"2024-03-20T08:01:38","modified_gmt":"2024-03-20T08:01:38","slug":"1inch-network-wants-to-increase-liquidity-of-lumia-network","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/1inch-network-wants-to-increase-liquidity-of-lumia-network\/","title":{"rendered":"1inch Network Wants to Increase Liquidity of Lumia Network"},"content":{"rendered":"

1inch Network<\/strong> aims to provide more liquidity and better pricing by adding Lumia, a liquidity network, to its mass resources list. This integration, which aims to deepen on-chain liquidity and provide better prices to 1inch users, was announced on 18th March.<\/p>\n

By providing access to centralized exchanges, Lumia aims to offer pricing to decentralized finance (DeFi) users that could compete and even surpass centralized platforms. Speaking about this integration, the co-founder of 1inch, Sergej Kunz, said \u201c1inch aims to provide liquidity to users in the crypto market, and we’re pleased to see Lumia as a new and significant source of liquidity.”<\/p>\n

Lumia’s liquidity solution is implemented with 1inch<\/strong> via a price quote request, a process where the customer requests a price quote from a provider (market maker) to buy tokens. Lumia contributes to this procedure by acting as a specialized market maker.<\/p>\n

1inch plans to further develop its Lumia integration by expanding it with a gasless solution called 1inch Fusion. Lumia will act as a registered and approved address to fulfill 1inch<\/strong> Fusion orders.<\/p>\n

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You may also be interested in this post:\u00a0Japanese Retirement Found Invests in Bitcoin<\/a><\/em><\/p><\/blockquote>\n

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A 1inch<\/strong> spokesperson noted that the integration is currently fully functional on the 1inch<\/strong> Legacy platform and completion for 1inch<\/strong> Fusion is “coming soon”. 1inch Network provides liquidity from over 500 sources with over 76 million transactions and lifetime volumes exceeding $428 billion.<\/p>\n

This network is governed by the 1inch<\/strong> DAO, a decentralized autonomous organization (DAO). 1inch claimed to have been the first DAO to hire a permanent legal team through a direct voting process in January 2024. Lumia was introduced by Orion DAO in February 2024 and marketed as a bridge between the vast liquidity of centralized crypto exchanges and the innovation of decentralized exchanges.<\/p>\n

In March 2024, it was announced that former Binance executive U-Chyung Lim was hired as head of business development. The co-founder of the Orion Protocol, Kal Ali, stated that Orion DAO and its tokens will be completely transferred to Lumia. This decision was made during a DAO vote, and 90% of DAO members voted in favor of the transition. The native ORN token will be replaced with the new infrastructure token LUMIA at a 1:1 swap.<\/p>\n

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Also, in the comment section, you can freely share your comments and opinions about the topic. Additionally, don\u2019t forget to follow us on\u00a0Telegram<\/strong><\/a>,\u00a0YouTube<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a> for the latest news and updates.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

1inch Network aims to provide more liquidity and better pricing by adding Lumia, a liquidity network, to its mass resources list. This integration, which aims to deepen on-chain liquidity and provide better prices to 1inch users, was announced on 18th March. By providing access to centralized exchanges, Lumia aims to offer pricing to decentralized finance<\/p>\n","protected":false},"author":1,"featured_media":15927,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[5057,5058],"class_list":["post-15928","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-1inch-network","tag-lumia"],"yoast_head":"\n1inch Network Wants to Increase Liquidity of Lumia Network - Coin Engineer<\/title>\n<meta name=\"description\" content=\"1inch Network aims to provide more liquidity and better pricing by adding Lumia, a liquidity network, to its mass resources list.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/1inch-network-wants-to-increase-liquidity-of-lumia-network\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"1inch Network Wants to Increase Liquidity of Lumia Network - 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