On June 4, Matcha, a transaction aggregator developed by the 0x team, officially launched its v2 version.
As one of the best projects in the transaction aggregation track in terms of transaction volume and user data, Matcha’s new version is more or less similar to some of 1inch’s recent actions, such as both have chosen a multi-chain strategy and will expand to new ecologies such as Polygon, but overall, the two projects still show major differences in the direction of their efforts.
Vertical cultivation or horizontal expansion?
Before we compare the specific differences, let’s briefly review some of 1inch’s recent upgrades.
In late March, 1inch officially went live with version v3 of its aggregation protocol, with major updates for gas fee optimization, providing lower transaction costs than operating directly on DEX (e.g. Uniswap).
in early April, 1inch announced its upgrade to 1inch Network, splitting the original project by module into 1inch Aggregation Protocol, 1inch Liquidity Protocol, 1inch DAO, 1inch Labs, and 1inch Foundation.
in late April, 1inch upgraded its Pathfinder algorithm to find the best transaction path faster.
Still in late April, 1inch expanded its business line again with the launch of 1inch Wallet for iOS.
Putting aside the overall planning strategy of brand upgrades and business line expansions like the launch of wallet services, 1inch’s recent core actions have been focused on optimizing its transaction aggregation protocol to provide a more timely and cheaper on-chain transaction experience for its users. In contrast, Matcha’s v2 release does not explicitly mention optimization of the aggregation protocol, but rather some more scenario-based upgrades.
Specifically, the updates in Matcha v2 can be summarized into the following four points.
Upgrade 1: Multi-chain strategy
The first is the multi-chain strategy mentioned above. As the cryptocurrency world moves towards a multi-chain era, liquidity is scattered among major ecosystems, and based on this background, Matcha v2 will deploy its products on other public chains and sidechains outside of ethereum. In the upgrade announcement, Matcha explicitly mentions Polygon and says it will integrate DEX such as QuickSwap, Dfyn and SushiSwap on that ecosystem.
It is worth mentioning that although Matcha and 1inch both support Ether, BSC and Polygon, the specific network switching experience is slightly different. 1inch needs to manually match the application network with the wallet network, while Matcha will automatically switch the application network according to the changes of the wallet network, but there is no definite conclusion on which way is better. There is no definite conclusion on which way is better, it still depends on the user’s personal operating habits.
Upgrade 2: Fiat Money Deposit
This major upgrade to Matcha v2 is a bit of a rarity in the DeFi space. Bringing fiat currency into DeFi has always been a long and complicated process, and to simplify the process, Matcha v2 integrates with payment provider MoonPay, making it the first transaction aggregator to have a built-in fiat currency deposit channel. With the new version of fiat currency, users can now purchase cryptocurrencies using 160 fiat currencies directly within Matcha v2 using a credit or debit card.
The MoonPay deposit window is shown in the picture above, you need to register MoonPay account first.
Upgrade 3: Matcha OTC
This is perhaps the most important upgrade of Matcha v2. The dark forest of ethereum is full of robots that are always analyzing the calls to smart contracts on the chain to find and exploit potential profit margins.
Matcha OTC is designed to solve this problem by allowing users to trade directly with professional market makers without risk of losing their trading information or being pinned. In addition, Matcha OTC uses the idea of order thinning, where quotes can only be set by the user, so users are able to execute their desired trades at locked prices without slippage.
In the official upgrade announcement, Matcha says that Matcha OTC can easily fill orders in the tens of millions of dollars, making it the ideal trading tool for large investors.
Upgrade 4: User Experience Optimization
In addition to the three key upgrades mentioned above, Matcha v2 has also made a series of detailed optimizations to the user experience, such as adding a night mode, supporting the creation and management of coins of interest, supporting asset value tracking in the wallet, etc., which I won’t go into here.
Next step, differentiation?
From the above points, the focus of Matcha v2 is basically on optimizing the transaction experience in a specific scenario, rather than on the aggregation protocol itself. However, it is worth noting that the official upgrade announcement says something like this – “We know that there is a lot to digest in Matcha v2, so please pay close attention to all the new features in Matcha in the future”, so it is not excluded that Matcha will further announce more new versions in the future. The content.
As far as I understand it, the upgrades disclosed in Matcha v2 may not seem as vertical as 1inch, but at a time when the threshold for DeFi experience is still high and robots are rampant, Matcha v2’s new features such as fiat money deposit and OTC may, to a certain extent, be more in line with the actual needs of some user groups. The new features of Matcha v2, such as fiat money deposit and OTC, may to a certain extent better suit the actual needs of some user groups, thus achieving differentiation.
As DeFi is rolling in on all fronts, and the trading-related track is rolling in on top of it, the market is flooded with homogeneous products.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/matcha-v2-is-online-how-does-it-differ-from-1inchs-upgrade-direction/
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