Decentralized exchange aggregator 1inch launched its wallet on Apple iOS Tuesday, allowing users to swap tokens on their mobile devices.
The new wallet brings all the advantages of the 1inch Network to mobile users, allowing traders to instantly swap tokens at lower rates. The iOS wallet also supports so-called “stealth transactions” within the Ethereum network. Stealth transactions ensure that trades are hidden from third parties, which 1inch claims can reduce the risk of front-running.
As more and more users prefer to do swaps, trades and other transactions on their mobile devices, the 1inch Wallet offers the main 1inch advantages they are used to in addition to mobile simplicity. Users can instantly swap tokens at the best rates in DeFi, using the same settings and aggregation functionality as the 1inch dApp for both the Ethereum and Binance Smart Chain networks. Also, the 1inch Wallet for iOS supports stealth transactions within the Ethereum blockchain.
Striving for top-level user experience
The main goal of the application is to offer the best mobile user experience for interacting with the 1inch Network. The first step towards that goal is a highly secure wallet implementation with swaps. At later stages, staking, governance, and liquidity pools will be introduced.
The 1inch Wallet app is significantly optimized to provide the best possible performance rates while executing key features like swapping, sending transactions and approving transactions via WalletConnect.
Unlike most other wallets, it is possible to use the WalletConnect functionality in the background. In addition, several WalletConnect options could be used simultaneously.
In line with always keeping user experience in mind, the 1inch Wallet is user-friendly by design. For instance, users’ tokens can be divided into categories, allowing users to view separately their assets in the following groups: tokens, collectibles, savings, pools and custom.
Convenience and security
The 1inch Wallet has push notification functionality, and users will receive push notifications about transactions they need to sign. That enables users to make transactions in just a couple of clicks, without having to log in every time.
In addition, the wallet supports EIP-681 payment requests, which enables users to pay by URLs.
Among the wallet’s key advantages is its top-level security, as the wallet parses call data, showing what is happening in a user-friendly manner. Also, receiving real-time rates and fast signing of transactions are highly important. With 1inch Wallet, transactions can be approved and confirmed even on Apple Watch.
To ensure top-level security performance, our wallet has gone through an extensive security audit by Blue Frost Security.
Another key security feature is encrypted backup to Apple iCloud. With this feature, a user can install the app on another device and, using their password, get access to the wallet over iCloud. This could come in handy for migrating the wallet to another device.
The backup feature has three-level protection, including Face ID, Apple ID and a passphrase. In addition, the wallet uses the Secure Enclave coprocessor to encrypt user data that never leaves their devices.
If a user enables iCloud Sync, data will be transmitted to the user’s private iCloud Database via the CloudKit framework, encrypted with AES256.
Neither 1inch Wallet developers nor Apple will have access to users’ data stored in their iCloud account, which will be additionally encrypted with a user-provided passphrase.
Advanced features for traders
The wallet also offers customizable features for advanced users, such as traders. They will have an opportunity to edit or cancel a sent transaction that has not yet been added to the blockchain, directly in the app. For instance, a user can increase a transaction’s gas fee to make sure it will be executed faster.