N1, a Layer 1 blockchain supported by Founders Fund, has announced the acquisition of 01 Exchange, a decentralized derivatives platform originally built on N1’s trading infrastructure. The move signals N1’s ambition to compete directly with established cryptocurrency exchange giants.
01 Exchange, which was incubated within the N1 ecosystem, has processed over $3 billion in trading volume and attracted more than 25,000 users. Under the acquisition agreement, the exchange’s application layer, trading product, market structure expertise, and community will become part of N1’s broader network strategy.
Rather than relying primarily on independent third-party applications to drive ecosystem activity, N1 is bringing its infrastructure, liquidity, and flagship trading product under a single network. The company says this approach is designed to align product development, distribution, and network economics more closely while reducing the fragmentation that has historically existed across many Layer 1 ecosystems.
“01 Exchange has already shown what is possible on N1, and bringing it into the network lets us move faster, deepen liquidity, and deliver a more integrated trading experience,” said Dima Romanov, CEO and co-founder of N1. “With N1 2.0, our next version, we’re expanding that foundation across RFQ markets, vaults, equities, mobile, and other on-chain financial products. We believe vertically integrated networks will define the next generation of exchanges, and N1 is being built to lead that shift.”
The acquisition comes ahead of the N1 2.0 upgrade, the next major version of the network. The upgrade is planned to introduce deeper liquidity, request-for-quote (RFQ) markets, vaults, equities, and additional on-chain financial products. N1 also plans to launch native applications for iOS and Android, extending access to its trading infrastructure through a mobile experience.
Existing 01 Exchange users will not be required to migrate assets as part of the transition. The exchange will continue operating under the N1 brand, with the new version expected to be deployed without requiring any user migration. Points earned before the N1 launch will continue to be recognized.
The transaction is expected to close within the next six months, while the operational transition will begin immediately. The deal is expected to be structured entirely in equity and tokens.
About N1
N1 is a Layer 1 blockchain with unrestricted scale and ultra-low latency. Designed to support next-generation crypto apps, it features horizontal scalability, sub-ms latency, and ultra-high throughput. Every app operates in its own isolated environment, resulting in zero state congestion.
Disclaimer: This article is provided for informational purposes and does not constitute investment advice. Cryptocurrencies mentioned may be risky and could result in financial loss. Always conduct your own research before making any investments.