Portfolios’ Battle with 1inch!

Moni on the mic, hey!

Today we have prepared for you an overview of the new version of 1inch: with charts, a user-friendly interface and other tasty features. Also, there will be a new Portfolio Battle, supported by 1inch, where you can win $ 700 for the 1st place, $ 400 for the 2nd and $ 200 for the 3rd. Well, traditionally, $ 100 for the last place and $ 100 for the best portfolio description. But first things first, let’s start with a review of 1inch v2.

What is 1inch?

If you explain the essence of 1Inch.exchange in one sentence, then it is an aggregator of liquidity from different DEX exchanges. What does this mean and why is it needed? Technically, this means that when you place an order on 1inch, the smart contract starts looking which DEX exchange has the required pair, volume and, most importantly, where is the best price for you. The order can be executed through one DEX or distributed among several exchanges. And all this without additional effort on your part, purely on a smart contract on the Ethereum network.

1inch Updates

We get the essence, but this is only the basis of the service, one might say, the base. All the most delicious is in the details, convenient perks and settings. Let’s figure it out, and at the same time see what’s new in 1inch v2.

• Pathfinder.
  One of the main updates of the second version is Pathfinder. This is such a special API that is responsible for finding the fastest and cheapest routes for swap tokens. In addition, the new Pathfinder algorithm leverages the “depth of the markets” within a single protocol. That is, the order can be divided not only between different protocols, but also between different levels of the same protocol. We will not go into technical details, but the point is that this is aimed at ensuring that you have the best price and efficient use of gas.

Incrypted will ask the founders of 1Inch about this in detail on the stream, which will take place on their YouTube channel in a week, so if you also don’t understand something or have any questions, prepare them to stream.

• Say “no!” to Failed transactions.
  Another thing that sounds complicated is “partial and dynamic transaction execution mechanism”, but it solves very important tasks. The bottom line is that if part of your order on Uniswap, for example, fails, then the transaction does not become failed. Part of the volume that could not be swapped on Uniswap will be redistributed to SushiSwap or Balancer, for example, and your order will be executed.
• Unpack It.
  Thanks to Pathfinder, it is possible to unpack collateral tokens of the Aave and Compound lending protocols directly within the swap on 1Inch without having to go to the platforms.
  Wait what?
  Aave and Compound pack other tokens into collateral coins like USD-pegged and cUSD. Users hold these collateral tokens and to unpack or transfer them to another pool, they had to go to the lending protocol itself. And here all this happens automatically as part of a 1Inch swap.
• Proxy optimization.
  The guys rebuild a smart contracts for the second version almost from scratch. It reduces to almost zero the cost of gas for aggregating direct swaps, for example, on Uniswap, and optimizes the cost for more complex exchange routes.
• Security and audits.
  And where you have smart contracts, there should be audits. And the new smart contract has passed as many as 9 audits: Certik, Hacken, Scott Bigelow, Mix Bytes, Coinfabrik, Haechi Labs, SlowMist Audit, and Chainsulting. Audits from OpenZeppelin and Consensys are expected soon.
• Speed.
  Speed ​​is what you can feel. The demonstration of offers decreased from 6 seconds to 0.4 seconds. Page loading speed decreased from 5 to 1 second and the speed of API suggestions decreased from 5 seconds to 0.4 seconds. WOW!

The most delicious .. and comfy

Yes, we’re talking about an updated interface. After all, this is something that, unlike the “complex engine features”, you can touch and test.

• Graphs.
  They are looking really dope! We are confident that new instruments will be added, different indicators for trading, and so on.
• Limit orders.
  This is killer, you can set the price at which you want to sell your tokens and go to sleep peacefully. All Degens and CHADs are so thankful!
• Modular system.
  In the settings, you can turn off tables, routes, compare offers from different protocols and get a clean swap, in general design flexibility is good.
• Settings.
  You can customize the size of the allowed slippage, Pathfinder settings, liquidity sources, gas level, and so on.

In general, we are happy for the guys. This is a great update and we think this is just the beginning. Recall that 1Inch raised a $ 2.8 million funding round led by Binance. And it’s especially cool that for the first time they exclusively talked about this with our friends from Incrypted on the stream, and then it got on Coindesk, Forklog and so on.

Portfolios Battle

And now — the battle of portfolios. What you need to do to participate, what the prizes will be, and so on. Everything in order. Let’s start with the prizes!

$ 700 — for the first place

$ 400 — for second place

$ 200 — for the third place

Well, by tradition, the dude with the most unprofitable portfolio will receive $ 100. And another $ 100 will receive a portfolio with the best description. The best description will be chosen purely in our subjective opinion.

What needs to be done?

Sign up.
First you need to register on the Moni platform battles.getmoni.io. All you need is email. Enter your email, press the “Login” button, find a letter from Moni in your inbox and confirm your participation. The letter sometimes ends up in the “Promotions” folder for some reason, so look there.

Collect a portfolio.
So, after registration, you will have the opportunity to collect your demo portfolio. You will have a demo $ 1000 for this. You just need to select the coins that you want to take into the portfolio and enter amount. Based on the experience of past battles, we decided to add a condition that 1 coin cannot be more than 40% of the portfolio, that is, no more than $ 400. Choose any coins that seem promising for the next 7 days and add them to your portfolio.

You can edit your portfolio as many times as you like, change coins, shares in the portfolio, but on Monday, November 9 at 20:00 (UTC+3 time), all portfolios will be fixed and you will no longer be able to make changes.

Once again: Monday, November 9 at 20:00 (Moscow time) — the beginning of the battle of portfolios. Until that time, you can build your portfolio.

Transaction at 1Inch.
In order to participate in the Portfolio Battle and claim prizes, you need to complete at least one transaction on the 1Inch platform. Check the instruction here.

Google form.

Another condition is to fill in a Google form. There you need to indicate the name of your portfolio (it must match the name on the battle platform), a description of the portfolio (by the way, we have a prize for the best description), and your nickname in Telegram.
This is necessary to contact you if you win. And in the Google form you will need to enter the ERC-20 wallet from which the 1Inch transaction was made and the hash of this transaction.

So, On November 9 at 20:00, all portfolios are fixed and the Battle starts. Unlike trading contests, you don’t need to do anything here. You simply watch portfolios fly up or down in LIVE mode. After all, cryptocurrency rates are tied to the platform via the API, and you can monitor your portfolio 24/7.

Good luck!

So, only a few simple steps separate you from $ 1500:

Register on battles.getmoni.io platform using email

By 20:00 (UTC+3) on Monday, November 9, collect your demo portfolio, complete at least 1 transaction on 1Inch and fill out a Google form.

Wait until next Monday, November 16, come to the stream with the guys from 1Inch, ask your questions and at the same time find out who won the Portfolio Battle.

Good luck to all!