Lido adds support for 1inch as withdrawal aggregator – CoinJournal

• Lido has announced support for 1inch as a withdrawals aggregator.
• 1inch will allow ETH stakes to skip the withdrawal queues with instant swaps between staked Ether (stETH)/wrapped staked Ether (stETH) and Ethereum (ETH.

Lido, the top liquidity staking protocol for Ethereum, has announced support for 1inch as a withdrawals aggregator.

The Lido team noted in their announcement on Wednesday that adding the decentralized exchange aggregator allows users to access instant swaps for their staked Ether (stETH) and wrapped staked Ether(wstETH). The feature also works for Ethereum (ETH).

“1inch is a DeFi aggregator optimised for Ethereum, BNB Chain, Optimism, Polygon and other chains. By aggregating prices across hundreds of DEXs, 1inch guarantee you the best rates for all trades,” Lido posted on X.

ETH stakers on Lido can unstake their stETH or wstETH via DeFi aggregators, which allows them to skip withdrawal queues by enabling stETH to ETH swaps within minutes. With 1inch, stakers can tap into a fast exit on Ethereum, Arbitrum and Optimism via 1inch Legacy mode or Fusion mode.

In the Legacy mode, users can tap into efficient atomic swap transactions while Fusion mode allows users to exchange their stETH or wstETH at competitive rates without gas fees. However, Fusion mode only allows for stETH/wstETH swaps valued at more than $1000.