What Is 1inch (1INCH)?
1inch is a decentralized exchange (DEX) aggregator that connects multiple DEXs into a single platform, enabling users to find the most efficient trading routes across all integrated exchanges. Instead of manually checking each DEX for the best swap rates, 1inch automates the process, ensuring optimal liquidity and cost-effectiveness.
Key features:
- Liquidity aggregation: Sources liquidity from various DEXs to offer better token-swap rates.
- Efficiency: Reduces slippage and transaction costs by splitting orders across multiple platforms.
- Governance token (1INCH): Launched in December 2020 to decentralize decision-making via a DAO.
👉 Discover how 1inch compares to other DEX aggregators
Founders & Development
1inch was founded in 2020 by Sergej Kunz and Anton Bukov. The project raised:
- Initial funding: $2.8M from Binance Labs, Galaxy Digital, and others.
- Series A: $12M led by Pantera Capital in December 2020.
The team also launched Mooniswap, an automated market maker (AMM), to enhance liquidity provisioning.
Unique Advantages of 1inch
- Multi-DEX Optimization: Scans platforms like Uniswap, SushiSwap, and Curve to find the best prices.
- Gas Fee Reduction: Uses smart routing to minimize Ethereum network costs.
- DAO Governance: Token holders vote on protocol upgrades and treasury allocations.
Tokenomics: 1INCH Supply & Distribution
- Max supply: 1.5B 1INCH tokens.
- Circulating supply: Updates in real-time on CoinMarketCap.
- Use cases: Staking, governance, and liquidity incentives.
Security & Protocol Safety
1inch employs:
- Audited smart contracts (by ConsenSys Diligence).
- Non-custodial swaps: Users retain control of their funds.
👉 Learn more about secure DeFi trading
Where to Buy 1INCH
Available on major exchanges like:
- Binance
- OKX
- Coinbase
- Kraken
FAQ
Is 1inch better than Uniswap?
While Uniswap is a standalone DEX, 1inch aggregates multiple DEXs (including Uniswap) to provide better rates.
How does 1inch earn revenue?
Through small fees on swaps and liquidity provider (LP) services.
Can I stake 1INCH tokens?
Yes, staking is available for governance participation and rewards.