1inch Network price

1INCH

#144

The 1inch Network is a leading decentralized finance (DeFi) ecosystem that powers seamless, secure, and cost-efficient crypto operations across multiple blockchains. Its suite of protocols and products enables users and developers to interact with DeFi in a highly efficient and flexible manner.

The 1inch Network's first protocol is a decentralized exchange (DEX) aggregator solution that searches deals across multiple liquidity sources, offering users better rates than any individual exchange. The 1inch Aggregation Protocol incorporates the Pathfinder algorithm for finding the best paths across multiple liquidity sources on 12 chains: Ethereum, BNB Chain, Polygon, Avalanche, Optimism, Arbitrum, Gnosis, zkSync, Base, Linea, Sonic and Unichain.

The 1inch Limit Order Protocol facilitates the most innovative and flexible limit order swap opportunities in DeFi. The protocol’s features, such as dynamic pricing, conditional orders, and extra RFQ support, power various implementations, including stop-loss and trailing stop orders.

With the introduction of Fusion technology, 1inch pioneered intent-based, gasless, and MEV-resistant swaps. Users can stake 1INCH tokens to gain Unicorn Power (UP) and delegate it to Fusion Resolvers, who execute trades on their behalf while users earn a portion of their fees — all without paying gas or experiencing front-running.

Fusion+ is the latest evolution of the 1inch Fusion technology, enabling gasless, intent-based swaps across multiple blockchains. By leveraging off-chain order intent construction and a network of resolvers, Fusion+ allows users to initiate secure, non-custodial, atomic cross-chain swaps without relying on bridges.

The 1inch Wallet is a multichain mobile application that provides an easy-to-navigate interface with secure storing, transaction, and swap capabilities. This versatile wallet was built from the ground up to streamline interacting with 1inch’s features.

The 1INCH token is the governance and utility token of the 1inch Network. 1INCH holders can stake their tokens to participate in the 1inch Network's DAO governance, including the 1inch DAO Treasury management. Also, holders can choose resolvers and earn a part of their fees.

In December 2020, 1inch raised $12 million in Series A funding, led by Pantera Capital, with others including ParaFi Capital, Blockchain Capital, Nima Capital, and Spartan Group. The funding round was conducted through a SAFT (simple agreement for future tokens) sale.

In December 2021, 1inch has closed a $175 million Series B round, led by Amber Group. Among about 50 investors that participated in the funding event are Jane Street, VanEck, Fenbushi Capital, Alameda Research, Celsius, Nexo, Tribe Capital and Gemini Frontier Fund.

In just over two years the 1inch DEX aggregator has reached 1M users and surpassed $150B in overall volume on the Ethereum network alone.