What is 1inch?

1inch (1INCH) is a decentralized exchange (DEX) aggregator that sources liquidity from multiple DEXs to provide users with the best possible token swap rates. Launched in 2020 by Sergej Kunz and Anton Bukov, 1inch enables efficient, low-cost trading across various decentralized platforms. By splitting orders across multiple liquidity sources, 1inch minimizes slippage and reduces transaction fees.

1inch's native token, 1INCH, is used for governance, staking, and protocol incentives.

How is 1inch useful?

1inch enhances the DeFi trading experience by finding the most cost-efficient routes for token swaps. Instead of manually searching for the best prices across multiple DEXs, users can execute trades instantly at optimal rates. The 1inch Aggregation Protocol ensures minimal price impact, while the 1inch Liquidity Protocol provides additional trading opportunities.

The 1INCH token enables governance, allowing users to participate in protocol upgrades and decision-making. Additionally, 1inch offers gas optimization solutions, reducing transaction costs for users on Ethereum and other supported blockchains.

How does 1inch work?

1inch utilizes an advanced aggregation algorithm that scans multiple DEXs, including Uniswap, SushiSwap, Curve, and Balancer, to identify the most favorable trading routes. The Pathfinder algorithm intelligently splits transactions across different platforms to optimize costs.

1inch operates across multiple blockchains, including Ethereum, Binance Smart Chain, Polygon, and Avalanche, ensuring seamless cross-chain interoperability. Users can also stake 1INCH tokens to participate in governance decisions and earn rewards.

1inch milestones

• Launch of 1inch DEX Aggregator: Introduced in 2020, revolutionizing decentralized trading efficiency.

• Deployment on Multiple Blockchains: Expanded beyond Ethereum to Binance Smart Chain, Polygon, Avalanche, and more.

• 1INCH Token Introduction: Enabled governance, staking, and rewards for active users.

• Integration with DeFi Protocols: Partnered with leading DEXs and DeFi projects to enhance liquidity and efficiency.

• Gas Fee Optimization: Launched solutions to reduce transaction costs, improving user experience.

1inch continues to streamline DeFi trading, offering a powerful aggregation solution that maximizes efficiency, minimizes costs, and expands decentralized financial accessibility.

Buy 1inch (1INCH) on BITmarkets.