1inch. a DEX aggregator solution that searches deals across multiple liquidity sources, today announced the release of the 1inch Wallet for iOS, which includes the web version’s features, as well new mobile wallet functionality.
Users can instantly swap tokens at the best rates in DeFi, using the same settings and aggregation functionality as the 1inch dApp for both the Ethereum and Binance Smart Chain networks. Also, the 1inch Wallet for iOS supports stealth transactions within the Ethereum blockchain.
The 1inch Wallet app was optimized to provide the best possible performance rates while executing key features like swapping, sending transactions, and approving transactions via WalletConnect.
In line with always keeping user experience in mind, the 1inch Wallet is user-friendly by design. For instance, users’ tokens can be divided into categories, allowing users to view separately their assets in the following groups: tokens, collectibles, savings, pools, and custom.
Convenience and Security
The 1inch Wallet has push notification functionality, and users will receive push notifications about transactions they need to sign. That enables users to make transactions in just a couple of clicks, without having to log in every time.
In addition, the wallet supports EIP-681 payment requests, which enables users to pay by URLs.
Among the wallet’s key advantages is its top-level security, as the wallet parses call data, showing what is happening in a user-friendly manner. Also, receiving real-time rates and fast signing of transactions are highly important. With 1inch Wallet, transactions can be approved and confirmed even on Apple Watch.
To ensure top-level security, the wallet went through a security audit by Blue Frost Security.
The 1inch Wallet is non-custodian and users should themselves take care of their keys to make sure their funds are properly protected.
Another key security feature is the encrypted backup to Apple iCloud. With this feature, a user can install the app on another device and, using their password, get access to the wallet over iCloud. This could come in handy for migrating the wallet to another device.
The backup feature has three-level protection, including Face ID, Apple ID, and a passphrase. In addition, the wallet uses the Secure Enclave coprocessor to encrypt user data that never leave their devices.
If a user enables iCloud Sync, data will be transmitted to the user’s private iCloud Database via the CloudKit framework, encrypted with AES256.
Neither 1inch Wallet developers nor Apple will have access to users’ data stored in their iCloud account, which will be additionally encrypted with a user-provided passphrase.
Advanced Features for Traders
The new app also offers features for advanced users, such as traders. They will have an opportunity to edit or cancel a sent transaction that has not yet been added to the blockchain. For instance, a user can increase a transaction’s gas fee so it will be executed faster. This is especially useful for advanced traders who often need to adjust their actions to changing market conditions.
Also, as the 1inch Network moves towards achieving interoperability, the 1inch Wallet will enable users to make transactions in networks other than Ethereum. Moving forward, developers will be able to connect to test networks and test their solutions without having to pay any fees.
“Thanks to the recent expansion of the 1inch Network to Binance Smart Chain (BSC), 1inch users can now easily switch between BSC and Ethereum, looking for higher speed and lower fees. We are closely monitoring the latest developments in the DeFi space, and we’ll add support to other promising blockchains.”
– Sergej Kunz, Co-Founder of 1inch Network