The 1inch team announced on Nov. 5 that it had launched version 2 of its DEX, which brings several improvements, including a token swap API and new UI.

• The new version introduces the Pathfinder API, a discovery and routing algorithm that facilitates the execution of token swaps in the shortest possible time
• The Pathfinder splits swaps across multiple liquidity protocols and additionally uses multiple market depths to get the best rates and lowest gas costs; users will be able to choose between ‘maximum return’ and ‘lowest gas’ options
• Another notable improvement is the UI, which has become more user-friendly
• The team also states that the probability of failed transactions has been “dramatically reduced”
• Other changes of note include the support for more protocols (with more planned), swap overhead optimizations and a response time that the team claims is the fastest on the market
• The 1inch DEX has seen strong support from prominent names in the space, raising $2.8 million from Binance Labs, Dragonfly Capital, FTX and Galaxy Capital, among others