Combining 1 inch Lumia offers more fluidity and better value

Multichain liquidity aggregator 1inch network Lumia has added a liquidity network to the list of aggregate sources.

The merger was announced on March 18, which will enhance liquidity on the chain and offer better pricing to 1inch users.

A key feature highlighted in the press release is Lumia's access to centralized exchanges such as Binance, OKX and KuCoin. Liquidity scaling should provide decentralized finance (DeFi) users with value that matches or exceeds that of centralized platforms.

1 Inch Co-Founder Sergey Kunz said:

“1inch aims to provide users with liquid payments throughout the crypto market, and we are pleased to welcome Lumia as a new and significant source of liquidity.”

Lumia's liquidation solution is implemented in 1 inch with price request, which is the process where the customer requests a price from the supplier (market maker) in order to purchase tokens. In this case, Lumia acts as a private market maker.

The fusion is then further enhanced by expanding to the 1inch Fusion, a gasless solution made in 1 inch. Lumia will act as a solver, which is an authorized address registered to fill 1inch Fusion orders.

A 1inch spokesperson told Cointelegraph that the integration is currently fully functional on 1inch Legacy and will be completed “very soon” for 1inch Fusion.

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1inch Network buys liquidity from over 500 sources, with over 76 million trades and a lifetime volume of over $428 billion.

The network is managed by 1” Decentralized Autonomous Organization (DAO). In January 2024, 1inch claimed to be the first DAO to hire a permanent legal team directly through the voting process.

Orion DAO introduced Lumia, its Web 3 liquidity layer, in February 2024, as the go-to liquidity source for any business and a bridge between highly centralized crypto exchanges and the innovation of decentralized exchanges.

In the year In March 2024, the company hired former Binance executive Yu-Cheung Lim as its business development officer.

Speaking to Cointelegraph, Orion Protocol Co-Founder Kal Ali explained that the Orion DAO and its tokens will be fully migrated to Lumia:

“Orion DAO will go to Lumia DAO, and it will be more interactive with the community.”

The decision was made by DAO vote and 90% of DAO members voted for the transition. The native ORN token will be converted to the new infrastructure token, LUMIA, with a 1:1 exchange supported by all exchanges.

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