1INCH is a decentralized exchange (DEX) aggregator that sources liquidity from various DEXs launched in December 2020 by Sergej Kunz and Anton Bukov. The platform aims to offer users the best prices and lowest slippage by routing trades through multiple DEXs. The 1INCH token governs the protocol and participates in network governance.
What Makes 1INCH Unique?
- Aggregates liquidity from multiple DEXs for better pricing and lower slippage
- Uses an algorithm that splits orders across multiple DEXs to achieve the best results for users
- Has a user-friendly interface with a simple and easy-to-use design
What Affects the Price of 1INCH?
- Market demand for decentralized exchange (DEX) aggregators
- The success and adoption of 1INCH in the DeFi ecosystem
- Developments and upgrades to the platform
What Gives 1INCH Value?
- The 1INCH token is used for network governance and has a maximum supply of 1.5 billion tokens
- User-friendly interface
- Best pricing among other DEXs
How Secure Is The 1INCH Network?
1INCH utilizes a combination of smart contract audits, bug bounties, and insurance funds to secure the Network and protect user funds. All trades occur within one transaction from a user's wallet on any of the supported blockchains and layer-2 networks.
Why is it called 1INCH?
1INCH refers to the platform's ability to aggregate liquidity from multiple DEXs into a single trade, effectively compressing the spread to 1 inch.
How is the future of 1INCH?
The 1INCH Network constantly expands and develops new features to improve the decentralized finance (DeFi) ecosystem. The team has also suggested potentially launching a decentralized autonomous organization (DAO) to govern the platform's future development.