1inch co-founder: Previously sold 11,000 ETH to test new features in Fusion mode

ChainCatcher news, 1inch co-founder Sergej Kunz stated that the previous sale of 11,000 ETH (approximately $21 million) by 1inch was used to test new features in Fusion mode, which allows setting the duration of trades and the starting and ending auction amounts using custom presets. This strategy is very helpful for rebalancing assets (for DAOs, hedging, and investment funds). Trades will be executed based on results, with better average rates compared to simple market swaps.

Previous report, according to DeBank data, the address starting with 0x225d, marked as "1inch: Investment Fund," removed two Uniswap V3 LPs about 10 hours ago, receiving approximately 11,000 ETH. It then converted the ETH to WETH and subsequently exchanged it for DAI in several transactions, converting all DAI into the interest-bearing token CHAI previously launched by MakerDAO, currently holding about 26.78 million CHAI. (Source link)