1inch teams up with Unstoppable Domains to enable users to use human-readable domain names when buying or sending crypto assets
We covered 1inch back in August after the DeFi tech startup joined forces with KuCoin Wallet to launch its native swap feature. 1inch is a distributed network for decentralized protocols on Ethereum, BNB Chain, Polygon, Avalanche, Optimistic Ethereum, Arbitrum, Fantom, and Gnosis Chain.
Since our last story, the 1inch team has been busy working on new a feature to enable its wallet users to enter human-readable domain names when buying or sending crypto assets, just so they can perform transactions more easily.
Today, 1inch announced it has partnered with Unstoppable Domains to allow 1inch Wallet users to perform transactions in a more user-friendly way by replacing complex addresses with domain names.
Driven by a mission to encourage mass adoption of DeFi products through improving user experience, the 1inch Network is thrilled to announce a partnership with Unstoppable Domains, an NFT domain name provider and digital identity platform.
Previously, users had to interact with lengthy alphameric crypto wallet addresses. From now on, they will enjoy the new option of replacing those complex addresses with straightforward names.
Where do these names come from? Once purchased, the crypto wallet address name, provided by Unstoppable Domains, belongs to its holder forever since it is minted as an NFT on the blockchain with no minting and no renewal fees. An NFT domain can be more than a payment address for wallets, providing a universal decentralized digital identity and serving as a unique username across apps and platforms. When creating usernames for crypto, users have a great choice between different endings like NFT, Wallet, Crypto, X, DAO etc.
So, in order to transact with crypto, the 1inch Wallet users will now enter an address name looking like Andy.wallet or Money.crypto or any other creative yet simple word combination chosen as a user domain. Such domains also increase transaction security by thorough address checking and preventing sending errors.
1inch always strives to improve the user’s transaction experience, among other things, by collaborating with cutting-edge DeFi projects. In line with this strategy, the usability of sending or receiving crypto doubles within the 1inch Wallet using domain resolution.
“The issues of user experience, security, and identity are still holding back Web3 mainstream adoption,” says Sergej Kunz, 1inch Network co-founder. “The partnership with Unstoppable opens up opportunities for overcoming these barriers by making Web3 onboarding more fun and attractive, while users will also benefit from a user-friendlier way of transacting,” he adds.
“The 1inch wallet is a DeFi lover’s dream, and Unstoppable is helping make it even easier for DeFi enthusiasts to manage their finances and own their identity on Web3,” said Sandy Carter, SVP and Channel Chief at Unstoppable Domains. “We’re thrilled to partner with 1inch to make transacting with, accessing, and buying crypto simpler and more intuitive than ever.”
Founded in 2018 and considered to be among America’s Best Startup Employers in 2022, according to Forbes, Unstoppable Domains is the number one provider for NFT domains. With a mission of facilitating Web3 navigation, it provides handling digital identities and creates understandable crypto domain names.