Blind Boxes, the world’s first gamified NFT creation platform, continues to make inroads in the DeFi space. We are now pleased to announce that starting today at 15:30 UTC, $BLES hodlers we be able to yield farm on 1inch Network. The industry leading 1inch Liquidity Mining Program unites decentralized protocols while enabling high-yielding, secure transactions in the DeFi space.
How it works
The initial protocol of the 1inch Network is a DEX aggregator solution that searches deals across multiple liquidity sources, offering users better rates than any individual exchange. This protocol incorporates the Pathfinder algorithm which finds the best paths among different markets over 50+ liquidity sources on Ethereum and 20+ liquidity sources on Binance Smart Chain. In less than two years the 1inch DEX aggregator surpassed $33B in overall volume.
Currently, the 1inch Network consists of five independent yet interoperable components. In addition to the 1inch Aggregation Protocol and 1inch Liquidity Protocol, which are already popular in the DeFi space, the other three components are the 1inch DAO, 1inch Labs, and the 1inch Foundation.
The Aggregation Protocol enables cost-efficient atomic transactions by linking a wide range of protocols. The Liquidity Protocol offers capital efficiency to liquidity providers while protecting users from front-running attacks. Meanwhile, through a decentralized autonomous organization, 1INCH stakers can participate in the governance of the network. And while 1inch Foundation incentivizes contributions to the ecosystem, 1inch Labs is a decentralized group of software developers who build a range of open-source protocols.
Blind Boxes x 1inch
Blind Boxes will cooperate with the 1inch Network to launch an ETH-BLES pair to provide liquidity to their Liquidity Protocol. Blind Boxes will contribute approximately USD 76K worth of $BLES tokens to reward liquidity providers of the mentioned pool on 1inch. This increases the use case of $BLES tokens in the DeFi ecosystem, and allows hodlers to deploy their token across decentralized exchanges and earn yield. The duration of this collaboration will be 12 weeks, starting May 17, 2021.
Says Anita Angelica Moore, co-founder & CEO of Blind Boxes:
“The response to our project has been phenomenal so far. As adoption grows, we are seeing a steady increase in the number of users accessing our platform, purchasing NFTs, and mining $BLES. We strive to enhance the utility of our token and view this partnership with the 1inch Network as an important step.”
Comments Sergej Kunz, co-founder of 1inch Network:
“NFT is one of the hottest topics in the DeFi space nowadays, and 1inch Network wants to be in the loop while cooperating with top players on the market. That’s why we decided to cooperate with Blind Boxes and give 1inch users another lucrative farming opportunity with $BLES tokens.”
About 1inch Network
The 1inch Network (https://1inch.io/) unites decentralized protocols whose synergy enables the most lucrative, fastest and protected operations in the DeFi space.
The initial protocol of the 1inch Network is a DEX aggregator solution that searches deals across multiple liquidity sources, offering users better rates than any individual exchange. This protocol incorporates the Pathfinder algorithm which finds the best paths among different markets over 50+ liquidity sources on Ethereum and 20+ liquidity sources on Binance Smart Chain. In less than two years the 1inch DEX aggregator surpassed $30B in overall volume.
The 1inch Aggregation Protocol facilitates cost-efficient and secure swap transactions across multiple liquidity sources.
The 1inch Liquidity Protocol is a next-generation automated market maker that protects users from front-running attacks and offers attractive opportunities to liquidity providers.
About Blind Boxes
Blind Boxes is a gamified curation platform and launchpad for NFTs (non-fungible tokens). This highly scalable dApp enables brands and creators to diversify their revenue streams, increase the liquidity of their creative assets, and to become leaders in decentralized global economies, while engaging fans and buyers to discover and collect rare, limited edition NFTs.
Via the Blind Boxes Marketplace, buyers experience the thrill of time-released curated NFT collections. Here collectors unlock sealed packages of exclusive items, curated by tastemakers across the arts, music, & entertainment. Curation is at the core of our value proposition. The platform offers a commission structure that incentivizes independent contributors to produce bespoke blind box collections that feature top-tier talent and emerging artists and designers from around the world.
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