WOOFi partnered with the 1-inch network in 2021, which has been successful. WOOFi has been offering competitive prices to the DeFi traders maintaining the liquidity of WOO networks CEX WOO X. According to Dappradar, WOOFi is one of the top 5 mostly used DeFi protocols that has executed more than 200k cross-chain swaps.
Indeed, WOOFi is the liquidity source of 1-inch users which is available at more affordable swap rates. Indeed, 1inch has been taking the benefits of the partnership, but it is beneficial for WOOFi as well.
According to Keving Feng, head of DeFi at WOO Network, “WOOFi is proud to be partnered with such a goliath of the DEX aggregator world, which has vastly widened access to the CeFi-grade prices of our sPMM v2 liquidity.”
Indeed, the 1-inch order flow helps to achieve a $4B total trading volume. Moreover, WOOFi has future planning with 1inch, where the DEX aggregator will provide support when WOO Network focuses on integrating additional assets to offer the ‘ultimate’ DeFi experience. The DeFi industry relies on the critical services offered by 1inch, and as long as DeFi continues to prosper, the demand for its services will persist.
Does 1inch have a future?
At the time of writing this post, 1INCH is trading around $0.41, which is around the short-term support level. In the last few weeks, it has been consolidating between $0.6 and $0.4, so it could be the right time to invest for the short term with a target of $0.6 as per our 1inch price prediction. However, if you are a long-term investor, you should consider fundamental factors and other technical aspects for long-term investment.
Based on our 1inch forecast, it will consolidate within the level of $0.4 and $1 in 2023, but in the next two years, due to global slowdown, 1INCH price will consolidate within a range of $1 and $2. However, if you are investing for the long term, our price prediction suggests it will cross the level of $5 in 2030.