1INCH token is the primary token associated with 1inch, introduced in December 2020. The token has governance functionalities, allowing holders to participate in the protocol's development decisions, and can also be staked to earn rewards.
1inch is a decentralized exchange aggregator designed to source the best trade prices across various platforms. Originating as a project from the ETHGlobal hackathon in 2019 by Sergey Kunz and Anton Bukov.
Instead of relying on a single DEX, 1inch's algorithm assesses multiple exchanges to find the most advantageous rates for users, thereby minimizing slippage and ensuring optimal trade execution. 1inch works by aggregating liquidity from a variety of DEXs, including Uniswap, Sushiswap, and Balancer. This allows users to get the best exchange rates for their trades, regardless of which DEX they use. 1inch also supports a variety of features, such as limit orders, stop-loss orders, and margin trading.
Above are only for introduction, not intended as investment advice.
