[{"category":{"name":"BitScreener Exclusive","exported_url":"bitscreener-exclusive"},"id":"758e25cf-3efa-42ff-a115-aabfb9bb405e","updated_at":"2022-06-29T12:17:00+00:00","account":{"firstName":"Akash","lastName":"Kashyap"},"description":"Faced with the high-volatility market, the crypto community is always looking for an ideal platform that provides them with reasonable token exchange rates and low-free transactions. The 1inch network has fulfilled customers' needs to become one of the most successful DEXs in the crypto field. Let’s take a deep dive into 1inch (1INCH)!","sapo":"Faced with the high-volatility market, the crypto community is always looking for an ideal platform that provides them with reasonable token exchange rates and low-free transactions. The 1inch network has fulfilled customers' needs to become one of the most successful DEXs in the crypto field. Let’s take a deep dive into 1inch (1INCH)!","title":"1inch (1INCH): Is it a good investment?","content":"

Overview of 1inch

1inch is a decentralized exchange aggregator that offers transactions with the optimal price and lowest fees.

With the connection to various decentralized exchanges, 1inch enables liquidity providers to find out the most convenient platforms.

1inch entitles its customers to access a huge number of liquidity sources on leading platforms, namely over 70 on Ethereum, about 40 on Binance Smart Chain, over 40 liquidity sources on Avalanche, Optimistic Ethereum, etc.

About 1inch (1INCH) token

Launched in 2020, 1inch (Symbol: 1INCH) is the governance and utility token of the entire 1inch network, powering on-chain activities within the 1inch ecosystem.

1INCH token serves two types of governance: pool governance and factory governance.

1INCH holders have the right to vote on the operation and future of the 1INCH network, make a change in transaction fees, recommend rewards, etc.

1INCH also serves the following utilities:

Rewards: Early Liquidity Providers on Mooniswap will get a reward in the form of 1INCH tokens for their contributions within the 1inch ecosystem.
Reduce Commission: 1INCH token is used to reduce transaction fees on the 1inch exchange.

How 1inch works

As an aggregator solution featured by the high liquidity, the 1inch network is structured by three key components, including:

Aggregation Protocol

1inch links traders’ transactions to ideal platforms which offer the most reasonable price and lowest fees.

1inch’s latest upgrade known as Pathfinder supports customers in the search for the best trading routes via different markets.

Liquidity Protocol

Originally named Mooniswap, the 1inch liquidity protocol enables users to earn passive income by depositing their crypto assets in 1inch liquidity pools.

Liquidity providers receive 'LP tokens,' which can be used for staking and swapping for other cryptocurrencies.

Limit Order Protocol

With aid of 1inch's limit order protocol, traders benefit from more advanced, conditional orders including stop-loss and trailing stop orders, meaning that they can ensure their profits or avoid losses amid the market volatility.

Features of 1inch

Besides an aggregator, the 1inch protocol deployed Mooniswap, its own AMM with the same structure as Uniswap.

Released on March 16, 2021, 1inch V3, the 1inch upgraded version offers a number of outstanding utilities to improve user experience and satisfy their needs, including higher security level, better liquidity, and lower transaction fees.

Who is behind 1inch?
Team

The 1inch Network was introduced by Russian developers, named Sergej Kunz and Anton Bukov in May 2019.

Sergej Kunz: a former senior developer at product price aggregator Commerce Connector, a former coder at communication agency Herzog, and a project leader at Mimacom consultancy.
Anton Bukov: a software developer since 2002 and a developer in decentralized finance (DeFi) since 2017.

Investor

The 1inch network raised $2.8M from a variety of investors, including Binance Labs, FTX, Galaxy Capital, Dragonfly Capital, Greenfield One, Libertus Capital, IOSG, LaunchHUB Ventures, and so on.

Partner

Ren Protocol: a project that supports token wrapping between blockchains.
Mercuryo: a cross-border payment network that offers global access to fast and low-fee money transfers.
Bitquery: one of the leading blockchain data providers with API support of over 30 blockchains.

Outlook on 1inch

Described itself as a decentralized exchange (DEX) aggregator launched on Ethereum, the 1inch network distinguishes itself from other DEX platforms by providing users with the best token prices and the immediate vote on governance proposals.

Since its expansion to several leading blockchains such as Ethereum, Polygon, and Binance Smart Chain, the 1inch network has gained trust among the crypto community, driving the 1INCH price up to $0.7609 at the time of writing.

Explore all the trending topics and hottest news in the crypto market with our Blogchain.

Meanwhile, play trading game and earn real tokens with CryptoSim - Virtual Trading Game.

","tags":[],"image":{"fileName":"1inch-deep-dive.png"}}]

1inch (1INCH): Is it a good investment?

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