[ Discussion Panel ] Making 1inch Tokens ULTRA - USEFUL!

but swap fee on l2 is very low (under 0.00). If on L2 isn’t enough liquidity, isn’t better just provide liquidity on L2? Or you think about a solution similar to Connext?

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I like this, connect 3box or BrightID profile to 1inch forum account?

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@domi90 @Traveler @DemoPower , I’d like to thank all for your suggestions + All the Topics that raised in this Post by Now are all answered in Last AMA . So i request to check it if you haven’t : )

1inch Network official AMA -

YouTube

Crowdcast

Also This Telegram Post to get Summary of the Whole AMA if you don’t have time -

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Tnx for info, you suggested a lot of interesting idea in post

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  • Feature - An Advanced Instant Gas Refill Feature | IGR | :red_gift_envelope:
Problem

On Different Chains Like ETH / BSC sometimes users runs out ETH or BNB or sometimes gets these Balances too low for doing a certain swap & they will be unable to transact any more because they can’t pay gas fees’ no more .

What they can do is to either send their tokens back to Centralised exchange & Trade for BNB & send them back to the wallet & do 1inch Trade or Either BUY BNB from Credit Cards .

Problem with both method is that for CEX you have to be KYCed or put your details same goes for having a Credit Card . Lot of Sweat too …

Proposal

Can we use a method where users tokens can be converted directly to BNB in a locked fashion or may be a in a time locked fashion [to avoid hacks if any]& same goes to any other Chain like ETH etc.

:black_square_button: Idea -

[In BSC chain]

like getting a short term loan for the tokens you have in form of BNB & that loan will lock out your small amount of tokens equivalent to amount that you wanna convert to BNB without Gas . After the swap is complete 1inch will deduct fee from that Token to BNB swap & If you wanna complete the loan you can again sign txn + a little fee to Unlock the loan & get your tokens back . I think it might remove the need of exchanges to get the BNB or users who wanna refill their BNB balance which is gone zero . Instead of spending Gas fee we can just sign a Txn which is gasless & Permit the user BNB balance against their tokens [These tokens that will locked under loan agreement can only be used with whitelisted tokens like ETH , BUSD etc. & not with some Shitcoins]

Maybe It’s possible or maybe Not but you get the idea how we can actually rid of 1 problem that happened to me & i think several other users where they just sometimes forget to refill Gas Balance & Thus Get Stuck for a while :sweat_smile:

/3

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Insta Click Multi - Coin Conversion - IMC :sparkles:

Yes You heard it Right . The Ability to convert a Single Token into Multiple Tokens in Just 1 click

  • I see that you need unlock the token to convert that into another 1 , So a Multi Token Unlock Feature can help in such scenario , Where i can just click once & it grants permission for all the Next Token swaps [4 tokens can be selected at a time or may be more from list]

  • I know that it might cost a hell lot of fee but it won’t be same for cross chains like Polygon etc. where fee are almost in pennies .

  • SO , What’s the use ? Eaziness . Yes Instead of converting my tokens into 4 another tokens & doing same steps over and over & Wasting my time over that Why not do it in just 1 CLICK ?

Next

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Hey Domi ! Thanks for the help . Yeah ! I think Decentralized proof of Identity DIDs or proof of Uniqueness can be implemented but we will be needing more dev input onto making the system more Robust & Decentralized & once done it will be Great for 1inch itself

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great,1inch need u for more comment and advice, tvm dude

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If they wanted to make 1inch tokens useful maybe they wouldn’t of created it on ETH, why in the hell would I pay $200 per trade because they decided to use ETH instead of something like EOS which has FREE TRANSACTIONS.

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personally I can’t see a use case unless 1inch creates its own blockchain, its about as useful as the Shiba inu FOMO which brought me here lol, still I’m invested in 1inch lets just hope ETH can highly reduce fee’s fast.

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Never ever in my life will I pay $200 to make a trade on a decentralised exchange, my god people we’ve had cheap decentralised exchanges such as WAVES for ages… what crack pipe was they smoking when they decided something with a $200 fee can compete with networks with free transactions just because they give it a cool name lol

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I got your Point Brother , Exact same reason that kept me away from ETH for a long time now

THE GODLIKE fee …

Shiba inu only on ETH so yeah 1inch BSC migration can’t help you here to Buy this token . I mean i wanted to buy 1 SHIBA too but who’s paying a 200$ Fee for that :sweat_smile:

But I think 1inch team looking for solution as we speak like in their LAST Community Driven AMA they’ve said they looking for more chains Like Matic etc. to almost zero the fee . Also they said they will be going after L2 Layer solutions too like Zkporter etc on ETH chain which will bring 0 fee costs to users pretty soon .

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Multi - Chain Unified Gas Fee Feature - | UGF | :scroll:

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1inch Smart Staking System - | SSS , Tripple S , S3 | :classical_building:

Idea -

  1. You have a Token [Eg. MKR ]
  2. You wanna provide LP to BNB - USDT pool in 1inch
  3. You wanna avoid Steps -
    [ Involves Swapping MKR to BNB USDT , Then Putting them in LP then take that & Put in Farming , Lots of Unlocking & Steps ]

Why Providing liquidity is Still Such a Tiresome Task & Time Killer ?
It’s time we make it EASY !!

How About We do it in just 1 Single Click !!

That is , Staking , Providing LP & Farming in 1 CLICK of a button

Reference - MyMingo Finance use such strategy on NEO chain

Now This Idea is implemented by Beefy Finance too on BSC

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No Loss Liquidity Pools - | NLP | :diving_mask:

Impermanent Loss haunted DEFI space for decades . To Mitigate it various Methods were applied but to this date most of project rely on Farming etc. to mitigate it.

Recently Bancor 2.1 came up with a solution of providing a Single-Sided Exposure with Impermanent Loss Insurance .

In Short , Provide Liquidity - Choose either 1 Token out of 2 that you don’t want to fluctuate - On Exit Bancor insurance will provide exact amount of tokens equal to that you provided in the Pool .

eg. ON 1inch BNB pool - you provide 100 1inch + 100 BNB worth of LP , On exit you will still get 100 1inch back no matter the price .

So your 1 Token is Completely free from any market volatility .

==================================================

Now , 1inch can also create an another Mechanism where users can provide Liquidity with some exclusive features like LVG etc.

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Luroof’s Advance BuyBack - | LAB | :fire:

Method

Next

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Thanks bro! So many goood ideas!

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Decentralized 1inch SIP :cocktail:

SPP (Systematic Purchase Plan) SPP is similar to a conventional Systematic Investment Plan (SIP), except that SPP has been crafted for Crypto investments .

Working -

So Let us Say , We have 500$ in our Wallet & We wanna buy 1inch but Not All at once instead on daily basis , Hrly , monthly , Weekly etc …

The Role of SIP is just to buy 1inch tokens on Regular Interval of Times in an Automatic & Decentralized way .

The Idea is better to be Applied on Low Gas fee Chains like Matic etc.
This Can also be Incentivized .
This will not only increase 1inch Token Hodlers but will also Reduce the Risks of Market Volatility .

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These are all such amazing ideas!

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Master Quest & Rewards | MQR :chocolate_bar:

Huge Problem lying on 1inch LP’s Right Now because there is no reward & most important there is no engagements provided as of now to do it .

For Example on Binance we complete Trading Tasks & open some rewards whether it’s the discount in trading fee etc.

1inch Can also provide the same .

Like Daily , Weekly , Monthly Quests & Providing some level up on that basis of that to provide some swap fee reduction & many other excess functionalities or even a learning program or NFTs . We can also Deploy a reset of those quests & levels choosen by Governance Voting like in 6 Months all Quests will reset & start fresh Again .

image

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