1inch Network (1INCH) is a decentralized exchange (DEX) aggregator that aims to provide users with the most favorable exchange rates by combining multiple liquidity sources on a single platform.
Founded in 2019 by Sergej Kunz and Anton Bukov, 1inch allows users to exchange tokens efficiently and securely across various blockchains, including Ethereum and Binance Smart Chain.
Key features:
Liquidity aggregation: 1inch combines liquidity from multiple DEXs and sources, ensuring that users get the best possible rates on their exchanges.
Aggregation protocol: Enables efficient and secure token exchanges, optimizing exchange routes to minimize slippage and reduce costs.
Limit order protocol: Offers users the ability to set limit orders for token exchanges, providing greater control over transactions.
Liquidity protocol: Previously known as Mooniswap, allows liquidity providers to earn returns by participating in liquidity pools.
Utilities:
1INCH Token: The native token of the platform is used for governance, allowing holders to vote on key protocol decisions, and for staking, offering rewards to participants.
Efficient exchanges: Users can exchange tokens across multiple blockchain networks with optimized fees and minimal friction.
Enhanced security: 1inch implements advanced security measures to protect users from malicious actors in the DeFi space.
White paper:
1inch has published several technical documents detailing its protocols and innovative solutions.
One of the latest is the whitepaper on cross-chain innovation, which addresses the challenges of interoperability between chains in the cryptocurrency space.
Annual price evolution of 1inch (1INCH):
This is a list of the approximate price of 1INCH at the end of each year since its launch:
2020: $1.50
2021: $2.25
2022: $1.00
2023: $0.50
2024: $0.51 (as of December 15)
* 1inch Network stands out as a comprehensive solution in the DeFi ecosystem, offering users tools for efficient, secure, and optimized exchanges across multiple platforms and blockchain networks *
