1inch Co-founder: Previously sold 11,000 ETH for testing new features in Fusion mode.
2023-07-06 00:56
Odaily News: Sergej Kunz, co-founder of 1inch, stated that the sale of 11,000 ETH (about $21 million) was used to test new features in the Fusion mode. This feature allows users to set the duration of transactions, as well as the starting and ending auction amounts using custom presets. This strategy is particularly helpful for asset rebalancing (for DAOs, hedge funds, and investment funds). (Source: The Block)
According to DeBank data, last night it was reported that two transactions were made by the address starting with 0x225d and labeled as 1inch: Investment Fund. Approximately 11,000 ETH was received and later converted to WETH. Subsequently, several transactions were made to convert the ETH into DAI, and all the converted DAI was further exchanged for CHAI, an interest-bearing token previously launched by MakerDAO. Currently, approximately 26.78 million CHAI is held.
According to DeBank data, last night it was reported that two transactions were made by the address starting with 0x225d and labeled as 1inch: Investment Fund. Approximately 11,000 ETH was received and later converted to WETH. Subsequently, several transactions were made to convert the ETH into DAI, and all the converted DAI was further exchanged for CHAI, an interest-bearing token previously launched by MakerDAO. Currently, approximately 26.78 million CHAI is held.
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