Utilizing the 1inch DEX Aggregator in Your Smart Contract Solution

DEX aggregator

DEX or decentralized exchange is a cryptocurrency exchange platform that runs without the involvement of authority or a third party. This allows users to retain control of their funds traded or stored on DEX, it provides more security than the centralized exchanges. The emergence of DEX aggregators has significantly driven the growth of decentralized crypto exchanges.

DEX aggregators provide liquidity from various exchanges and offer users better swap rates for tokens than they could get from any particular DEX. They can optimize swap fees, token prices, and slippage. Thus, it offers a better rate for users.

Also, Check | Decrypting Fundamentals of DeFi Aggregator Development

How to Integrate the 1Inch DEX Aggregator into Your Smart Contract

To use an aggregator, you have to call the methods of the OneSplitAudit contract. This contract provides various methods like getexpected return through which you can get the amount you will get for the swap this way users can also control slippage for swapping.

Prerequisites

Import 1inch audit contract/interface into your main contract

Get Expected Return

Get the return amount for swapped tokens. This function returns the expected return amount of the desired token.

Parameters details:

fromToken - Address of trading off token.
destToken - Address of desired token.
amount - Amount for from Token.
parts - Number of pieces volume could be splitted.
flags - For enabling disabling feature

function getExpectedReturn(
IERC20 fromToken,
IERC20 destToken,
uint256 amount,
uint256 parts,
uint256 flags
)
public
view
returns(
uint256 returnAmount,
uint256[] memory distribution
)

Swap Tokens

Swap amount of fromToken to destToken

Parameters details:
minReturn Minimum expected return, else revert transaction

function swap(
IERC20 fromToken,
IERC20 destToken,
uint256 amount,
uint256 minReturn,
uint256[] memory distribution,
uint256 flags
) public payable returns(uint256)

Also, Visit | Cross-Chain DEX for Seamless Interoperability and Liquidity

Conclusion

This blog gives you a brief idea about the DEX aggregator and how you can use 1inch to integrate it into your smart contracts.

At Oodles, we have a blockchain development team comprising of skilled blockchain and smart contract developers. They are deft in using their skills and expertise to develop and deliver complex business solutions. Reach out to us to discuss the feasibility of your concept and how we can help you turn it into realization.