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1inch is a decentralized exchange aggregator that sources liquidity from various DEXes and provides it in a single place. In other words, 1inch is the best place to find the best prices for your trades.
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Introduction
1inch is a decentralized exchange aggregator that sources liquidity from numerous DEXes and provides users with the best price available. 1inch was launched in May 2019 by Sergej Kunz and Maximilian Pfister, and has since become one of the most popular tools in the DeFi space. In addition to its core product, 1inch also offers a synthetic token (1INCH) that tracks the performance of the top 15 DEXes, and a lending platform (1Lend) that allows users to earn interest on their digital assets.
What is 1inch?
Decentralized exchanges have seen a lot of popularity lately, and one dex that’s been gaining a lot of traction is 1inch. In this article, we’ll be looking at what 1inch is, how it works, and whether or not it’s worth using.
1inch is a decentralized exchange aggregator that sources liquidity from various DEXes and renders the best possible price for users when they make trades. In other words, when you use 1inch to trade crypto assets, you’re not actually trading on the 1inch platform itself. Rather, your trade will be executed on one or more DEXes that have been integrated with 1inch, and you’ll always get the best possible price thanks to the aggregator’s smart order routing technology.
The 1inch Foundation
The 1inch Foundation is a not-for-profit community-driven organization that is responsible for the development and growth of the 1inch Protocol. The Foundation’s mission is to build an inclusive, decentralized ecosystem around the 1inch Protocol and to support the development of applications and services that will power the DeFi revolution.
The 1inch Foundation was founded in 2019 by Sergej Kunz and Anton Buenning, who also serve as the Foundation’s Co-Executive Directors. The Foundation is headquartered in Berlin, Germany.
The 1inch Foundation is funded by a combination of grants, donations, and proceeds from the sale of the 1INCH token. The Foundation does not have any venture capital backing.
The 1inch Protocol is an open source software project that is maintained by the 1inch Foundation. The source code for the 1inch Protocol is available on GitHub under an MIT license.
The 1inch Network
The 1inch Network is a decentralized exchange protocol allowing forswaps between numerous blockchains with high liquidity and low slippage. The protocol is open source, meaning that anyone can launch a frontend interface or “aggregator” to facilitate trades on the network. The 1inch aggregator currently supports swaps between Ethereum, Binance Smart Chain, Huobi Eco Chain, Polygon, xDai, and more.
The 1inch Network’s key innovation is the introduction of the “Liquidity entropy” concept to minimize slippage when trades are being made. In traditional DEXes, orders are matched with the order book at the time of execution. This can often lead to large slippages (the difference between the expected price and the actual price of an asset at trading time).
The 1inch Network uses a flash loan mechanism to split an order into multiple smaller orders which are then filled by disparate liquidity providers across multiple DEXes. This ensures that trades are always executed at the best possible price, minimizing slippage for users.
The 1inch Network also features a number of other benefits including gas optimization (through use of gas tokens), price oracles (to provide real-time data on asset prices), and more.
The 1inch Exchange
1inch is a decentralized exchange aggregator that sources liquidity from a variety of popular exchanges, such as Uniswap, Kyber Network, Bancor, and 0x Protocol. 1inch allows users to trade ERC20 tokens directly from their wallets with the best possible price by aggregating liquidity from multiple exchanges into a single trading interface.
The 1inch Foundation is a non-profit organization that incentivizes the development of the 1inch ecosystem through its Grants Program. The 1inch Grants Program provides funding for projects that contribute to the growth of the 1inch network, such as liquidity mining initiatives, educational content, and software development.
The 1INCH token is an ERC20 utility token that is used to pay fees on the 1inch Exchange and to access certain features on the 1inch Network. The 1INCH token is also used as collateral for the1INCH Liquidity Mining Pool.
The 1inch Protocol
The 1inch protocol is a decentralized exchange aggregator that sources liquidity from a range of platforms and protocols to provide the best possible rates to users when moving crypto assets. The project was launched in 2019 by Sergej Kotliar and Anton Bukov, who are also the co-founders of the Mooniswap Protocol. The 1inch protocol is built on Ethereum and is powered by the native token, 1INCH. The token is used to govern the protocol and rewards users for providing liquidity.
The 1inch Token
1inch is an Ethereum token that is used to power the 1inch decentralized exchange. The 1inch Token is used to pay trading fees on the 1inch Exchange and also provides holders with a discount on those fees. In addition, the 1inch Token can be staked in order to earn rewards.
The 1inch Wallet
1inch is a non-custodial wallet that allows you to store, send, and receive your favorite cryptocurrencies. The 1inch Wallet is available for both Android and iOS devices, and you can also use it on your computer. The 1inch Wallet is a great way to keep your cryptocurrencies safe and secure, and it’s also a great way to send and receive payments.
The 1inch Explorer
1inch is a decentralized exchange aggregator that sources liquidity from a variety of DEXes and displays the best rates in a single interface. The 1inch team refers to this as “smart order routing.”
The main product is the 1inch Explorer, which enables users to swap crypto assets in a single transaction while receiving the best possible rate. The 1inch Explorer is integrated into popular wallets such as MetaMask, Trust Wallet, and Ledger.
The 1inch Foundation was launched in 2019 with the aim of developing the 1inch Protocol and ecosystem. The Foundation is based in Zug, Switzerland.
Conclusion
1inch is a decentralized exchange aggregator that sources liquidity from multiple protocols and provides it in a single smart contract. This allows users to get the best prices for their trades while also earning fees for providing liquidity. 1inch currently supports ETH/ERC20, DAI/USDC, and WBTC/ETH trading pairs. The 1inch team plans to support additional assets and trading pairs in the future.
