What is 1Inch Exchange?
Founded in 2019 by Anton Bukov and Sergej Kunz, 1Inch is a decentralized exchange (DEX) aggregator that optimizes crypto trades across multiple liquidity sources. Unlike traditional exchanges, 1Inch scans 33+ protocols to find the most cost-effective routes for swaps, considering factors like:
- Price efficiency
- Gas fees
- Liquidity depth
- Slippage tolerance
Popular DEXs like Uniswap, Kyber Network, and Oasis each offer varying rates—1Inch eliminates guesswork by automating the best trade execution.
How Does 1Inch Work?
1Inch’s algorithm splits trades across multiple DEXs when needed. For example:
- A USDT-to-WBTC swap might route partially through Uniswap and SushiSwap to minimize costs.
- The system dynamically adjusts paths based on real-time liquidity and fees.
👉 Discover how 1Inch compares to other DEX aggregators
Key Features:
- Liquidity Protocol (Mooniswap): Launched in 2020, this AMM reduces impermanent loss for liquidity providers by recalibrating price curves.
- Multi-Chain Support: Operates on Ethereum, Binance Smart Chain, Polygon, and more.
How to Use 1Inch Exchange
Step-by-Step Trading Guide:
- Connect Your Wallet: Use MetaMask, Trust Wallet, or WalletConnect.
- Select Tokens: Choose input (e.g., USDT) and output (e.g., DAI).
- Approve Token Spend: Opt for "Unlimited" to save on future gas fees.
- Execute Trade: Confirm the swap via your wallet.
👉 Start trading on 1Inch today
The 1Inch Token (1INCH)
- Utility: Governance token for voting on platform upgrades.
- Total Supply: 1.5 billion (distributed over 4 years).
Notable Airdrops:
- December 2020: Rewarded active users with tokens (listed on Binance at $2).
- February 2021: Distributed 15M coins to Uniswap users.
Where to Buy 1INCH:
- Centralized Exchanges: Binance, Huobi Global
- DEXs: Uniswap, 1Inch Exchange
FAQs
Q: Is 1Inch safer than Uniswap?
A: Both are non-custodial, but 1Inch’s multi-DEX routing can offer better rates and lower slippage.
Q: What’s the gas fee structure?
A: Fees depend on Ethereum network congestion; 1Inch optimizes routes to reduce costs.
Q: Can I provide liquidity on 1Inch?
A: Yes—its Liquidity Protocol offers competitive yields for LPs.
Conclusion
1Inch has emerged as a top-tier DeFi tool by solving fragmented liquidity issues. With its cross-chain expansion and governance model, it’s poised to remain a leader in decentralized trading.
Pro Tip: Bookmark the platform to compare rates before large swaps!
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