1inch integrates Unstoppable Domains service
DeFi-project 1inch announced a partnership with the decentralized domain registrar Unstoppable Domains. It was reported to ForkLog by representatives of the project.
This step will allow 1inch Wallet users to make transactions in a more convenient way, replacing complex addresses with domain names. The latter are non-exchangeable tokens (NFTs).
“User experience, security and identity issues continue to hold back mass adoption of Web3. Partnering with Unstoppable opens the door to overcoming these barriers,” said 1inch Network co-founder Sergey Kuntz.
According to the press release, when transferring cryptocurrency, 1inch Wallet users can enter the recipient’s address like “Andy.wallet” or “Money.crypto.”. The project team said that such names “increase transaction security by thoroughly checking addresses and preventing sending errors.”.
“We’re excited to partner with 1inch to make cryptocurrency transactions, access and purchases easier and Australia will more intuitive,” stressed Unstoppable Domains Vice President Sandy Carter.
In July 2022, the NFT domain provider raised $65 million at a valuation of $1 billion. The startup was previously backed by Tim Draper Associates in a $4 million round.
Recall that in August, 1inch Network announced the integration with Ethereum virtual machine platform Aurora.
The DeFi-project later announced the distribution of 300,000 OP tokens to its users.
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