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1Inch (1INCH): Trend & Price

What is 1inch? 

1inch is a decentralised exchange aggregator. Thanks to its smart contract system, 1inch users can find cryptocurrencies at the lowest prices available from all the DEXs included in its offering. This feature is extremely useful in DeFi and – consequently – for anyone involved in blockchain trading. Another feature of the platform is its availability on different networks – both Ethereum Layer 2s and chains such as Avalanche and Fantom. 

Why follow 1inch? 

Its native token is 1INCH, launched in the summer of 2020, whose main purpose is direct governance of the ecosystem. What makes 1inch unique and worth following? It aims to be the first DEX aggregator capable of supporting high trading volumes and keeping fees lower than any centralised exchange. Its governance system also allows its users to vote for crucial changes to the protocol. 

How was it created?

The founders of 1inch are Sergej Kunz and Anton Bukov. The protocol was created during a sumEthereum development competition, the ETHGlobal Hackathon in New York. In addition to their blockchain know-how, the two founders have decades of experience in cybersecurity. 1inch is underpinned by the 1inch Labs Foundation, with numerous developers working on network protocols to advance the system. 

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