1inch started its journey in 2019 and has become one of the most recognized products in the DeFi market. Every DeFi geek knows about this product as it has greatly influenced the market and its growth.

In 2020, 1inch attracted great attention in the DeFi space for its innovative token exchange method. It quickly became one of the leading DeFi platforms, processing millions of dollars in transactions every day. In December 2020, 1inch launched a governance token to allow users to participate in the management of the platform and receive a certain percentage of the commission. This is an important step in the development of 1inch as a fully decentralized organization.

In 2021, 1inch continued to expand, adding support for new blockchains such as Binance Smart Chain and Polygon, which enabled it to attract more users.

Overall, 1inch’s success can be attributed to several key factors:

  • Innovative approach to token swaps

  • Actively participate in the community through token governance and strategic expansion into new blockchains

This shows that 1inch understands its users very well and can quickly adapt to changing market conditions.

1inch will continue to improve its algorithms to provide the best prices and minimize slippage. This may include the introduction of new technologies and optimization techniques.

Given the current trends in the DeFi field, we believe that 1inch will actively participate in the development of DeFi 2.0, including launching new features and services to improve the security, efficiency and usability of DeFi.

The 1inch hardware wallet will be integrated into 1inch, expanding the 1inch mobile wallet ecosystem. It will provide the most secure option to store and manage private keys in a simple, easy and offline way. In addition, by launching the 1inch branded hardware wallet, we aim to increase brand awareness and establish additional touchpoints with the DeFi community.

The proposal will receive $2 million from 1inch DAO

I would also like to mention the collaboration with local communities in different countries. 1inch launched a separate Twitter account for Spanish-speaking community members

1 inch Spanish

This will promote the product in Spain and Latin America and attract more and more new users to the community.

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Spanish Thread

One of the important things to collect in 2023 is the adoption of 1inch DAO [1IP-28] to stop swap surplus collection!

What exactly is swap surplus?

This is a result of positive slippage, a unique market phenomenon where you receive additional tokens (surplus) when the token exchange rate changes in your favor between the transaction's sub-submission and confirmation.

Previously, collecting swap surpluses required additional data and calculations for all swaps, resulting in additional gas costs for all users.

But now those gas costs no longer apply per 1 inch, making the swap more cost-effective for everyone!

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The number of unique wallets using @1inch has passed the 1 million mark. I would like to remind everyone that at its peak in 2021, it failed to break this boundary.

You can view the graph here. I noted the peaks in 2021 (number of wallets) and 2023.

Even when the market is in a bear market, 1inch ensures that every user has the best conditions to exchange tokens, feel safe and confident that their assets are safe.

Over the years, 1inch has been one of the best products on the DeFi market, constantly adapting to new challenges and giving the community a lot of attention. The number of active wallets using its products is increasing every year. So far, #1inch has risen 9% to 0.3338