By
Tolu Ajiboye
April 8th, 2024
Kunz also stated that the partnership is in line with 1inch’s aim of improving the user’s transaction experience by collaborations with cutting-edge DeFi projects.
1inch network has announced a partnership with NFT domain name provider and digital identity platform, Unstoppable Domains to help ease cryptocurrency payments and transactions for its users.
According to the 1inch, the latest partnership will see a new feature which will enable 1inch wallet users to enter “human-readable domain” names when purchasing or sending crypto assets, using Unstoppable’s naming naming service.
This feature will give users the option to use customizable domain names rather than the alphameric crypto wallet addresses.
The wallet address will also be created on the blockchain as a nonfungible token (NFT), just like all other Unstoppable Domains addresses, with no additional minting or renewal fees.
“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,” the company stated.
Sergej Kunz, 1inch Network co-founder has lauded the la tree at partnership, stating that it is a move that could strengthen the wider adoption of decentralized finance (DeFi) products and services.
Kunz also stated that the partnership is in line with 1inch’s aim of improving the user’s transaction experience by collaborations with cutting-edge DeFi projects.
Kunz also explained that, 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,” Sergej Kunz stated.
“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 added.
Sandy Carter, SVP and Channel Chief at Unstoppable Domains, after the announcement stated that, the 1inch Wallet is a DeFi lover’s dream, and Unstoppable is here to help make it even easier for DeFi enthusiasts to manage their finances and own their identity on Web3.
“We’re thrilled to partner with 1inch to make transacting with, accessing and buying crypto simpler and more intuitive than ever,” she stated.
Unstoppable Domains was founded in 2018 and is now the number one provider for NFT domains. The firm is also amongst America’s Best Startup Employers in 2022, according to Forbes.