Non-custodial wallet platform Wirex reportedly forged an alliance with 1inch Network to utilize ít aggregation API to operate token swaps. 

Specifically, the freshly formed collaboration will reportedly see users of the Wirex wallet having the power to exchange tokens within the wallet. 

1inch Network co-founder Sergej Kunz reportedly revealed that the alliance will make it possible for Wirex community members to swap their tokens on different blockchains. 

Via the employment of a search algorithm that searches for swapping routes, 1inch will help Wirex users find optimal trading rates for their swaps. Kunz further claimed that the collaboration serves as an initiative to allow the 1inch platform to pursue adoption for its solutions.

Per Pavel Matveev, the co-founder of Wirex, the 1inch integration reportedly works as a measure for their initiative to offer their users access to decentralized finance (DeFi). Matveev shares a belief that by integrating the feature into their wallet, users will have the chance to save time and money when swapping their assets.

As disclosed by the Wirex team, the alliance with 1inch is in line with their effort to widen the scope to cover new blockchains, nominally Avalanche (AVAX), Polygon (MATIC), BNB Chain (BNB), and Fantom (FTM).

Meanwhile, in different parts of the DeFi sphere, a token bridge dubbed Nomad has reportedly suffered from a security exploit, with recorded financial damage of nearly $200 million. 

A few of the exploiters stated to have intentions of returning the funds to the Nomad team and communicated via Twitter. The Nomad team disclosed that they have already notified the authorities and are constantly working to resolve the situation.

Regarding decentralization, a discussion of whether Solana (SOL) is decentralized or not took place in July. DeFi company Unstoppable Finance argued that Solana is “more decentralized than people think,” noting its validator count and Nakamoto coefficient. However, some members of the community are not convinced, believing that Solana is the same as traditional systems.