🔔 Preface:
@1inch Network is an important player in the DeFi field. It has won wide attention among cryptocurrency traders with its liquidity aggregator and multi-chain support functions. As of 0:30 on September 5, 2024, the current coin price is $0.288, a 24-hour increase of 27%.
1️⃣ Project and background introduction:
1inch was born in 2019. It is a decentralized trading aggregator that optimizes the user's trading experience by finding the best trading path in multiple DEXs. The 1inch team was founded by @SergejKunz and @Anton Bukov, who hope to solve the problems of high transaction fees and dispersed liquidity through the platform.
2️⃣ Core features:
🔸 Aggregate Trading: 1inch’s core function is to aggregate liquidity from multiple DEXs and find the best trading path through its Pathfinder routing algorithm. This aggregation method usually provides users with better prices and lower transaction fees compared to a single exchange.
🔸 Multi-chain support: 1inch has expanded to multiple blockchain networks, and users can trade on networks such as Ethereum, BSC, Polygon, and Optimistic Ethereum. This multi-chain support provides users with more choices and further enhances the flexibility of the platform.
🔸 Limit orders and flash trades: 1inch provides a limit order feature that allows users to automatically execute trades when the market price reaches a specified level. In addition, the platform also supports efficient arbitrage and complex trading through flashbot transactions.
🔸 User-friendly interface: 1inch provides Simple Mode and Classic Mode. The former provides simple trading options for novice users, while the latter provides more trading tools and data analysis for advanced users.
3️⃣ Core token situation:
1inch's native token is $1INCH , total amount: 1.5 billion, circulation: 1.255 billion, market value: $335.4 million. It is mainly used for governance and incentives. As a governance token, 1INCH holders can vote on key decisions of the platform, such as protocol upgrades and fee adjustments.
As an incentive token, users can get 1INCH rewards by providing liquidity to 1inch's liquidity protocol. In addition, the 1INCH token also plays a connecting role in the platform's efficient routing.
4️⃣ Ecosystem:
The 1inch ecosystem consists of multiple parts, including a decentralized trading aggregator, a liquidity protocol, and the 1inch wallet. The 1inch wallet is a non-custodial wallet that supports the storage of tokens and NFTs on the Ethereum network and is compatible with mainstream wallets such as MetaMask. In addition, the 1inch wallet also integrates Web3 browser functions, allowing users to interact with various DeFi applications directly in the wallet.
🎯 Summary:
1inch has also successfully improved the efficiency and user experience of decentralized transactions with its advanced liquidity aggregation and multi-chain compatibility. The platform optimizes transaction paths through the Pathfinder routing algorithm, providing more competitive prices and lower fees. In addition, 1inch's limit orders and lightning trading functions further enhance its flexibility and market adaptability.
This article does not constitute any investment advice! Investors need to carefully assess risks and market performance! #DYOR
🤝 Thank you everyone！
