What Is 1inch (1INCH)?
1inch is a DEX aggregator that connects multiple decentralized exchanges (DEXs) into a single platform. This allows users to find the most efficient swap routes across all integrated platforms. Instead of manually checking each exchange for the best rates, 1inch automates the process, optimizing swap efficiency.
DEX aggregators source liquidity from various DEXs, offering users better token-swap rates than any single DEX could provide—all in minimal time.
Key Features of 1inch:
- DEX Aggregation: Combines liquidity from multiple DEXs.
- Optimized Swaps: Finds the best rates and lowest slippage.
- Governance Token (1INCH): Powers the decentralized autonomous organization (DAO).
Launched in August 2020 after raising $2.8 million from investors like Binance Labs and Galaxy Digital, 1inch later secured an additional $12 million in a Series A round led by Pantera Capital. In December 2020, it introduced its 1INCH token and transitioned to DAO governance.
👉 Discover how 1INCH works in DeFi
Who Are the Founders of 1inch?
The 1inch Network was co-founded by:
- Sergej Kunz: A developer with extensive experience in smart contracts.
- Anton Bukov: A seasoned software engineer specializing in blockchain solutions.
Their vision was to solve liquidity fragmentation across DEXs by creating an aggregator that optimizes trade execution.
What Makes 1inch Unique?
- Multi-DEX Liquidity: Accesses pools from Uniswap, SushiSwap, and others.
- Pathfinder Algorithm: Dynamically routes trades for optimal gas fees and slippage.
- Mooniswap AMM: Its proprietary automated market maker reduces price slippage by up to 50%.
- DAO Governance: Token holders vote on protocol upgrades and treasury allocations.
Circulating Supply of 1INCH
- Total Supply: 1.5 billion 1INCH.
- Circulating Supply: Updated in real-time on CoinMarketCap.
- Token Distribution: Allocated to team, investors, and ecosystem incentives.
How Is the 1inch Network Secured?
- Smart Contract Audits: Reviewed by leading firms like Certik.
- Decentralized Governance: Proposals require community consensus via DAO votes.
- Non-Custodial: Users retain control of funds; no centralized intermediaries.
Where Can You Buy 1INCH?
1INCH is listed on top exchanges like:
- Binance
- OKX
- Coinbase
- Kraken
FAQ
Q: Is 1INCH a good investment?
A: It depends on your risk tolerance and belief in DEX aggregation’s future. Research the project’s roadmap and market trends.
Q: How does 1inch earn revenue?
A: Through swap fees and MEV protection services.
Q: Can I stake 1INCH?
A: Yes, via the 1inch staking contract or DeFi platforms like Aave.
Q: What’s the difference between 1inch and Uniswap?
A: Uniswap is a single DEX, while 1inch aggregates multiple DEXs for better rates.
Q: How do I use 1inch to swap tokens?
A: Connect your wallet to the 1inch dApp, select tokens, and execute the swap.
Q: Is 1inch safe from hacks?
A: Its audited contracts have a strong track record, but always use caution in DeFi.
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1. **1inch Network**
2. **1INCH token**
3. **DEX aggregator**
4. **DAO governance**
5. **Mooniswap**