1inch Network

What is a 1-inch network?

The 1inch network is decentralized exchange aggregator. This allows users to find the best token exchange prices. To choose the most profitable ways to trade tokens, the platform uses its own API technology – 1″ Pathfinder. Essentially, the algorithm scans the market to find the most convenient exchange options.

The 1inch crypto project uses various protocols, including:

• Limit order protocol. It provides users with features such as different order types (stop loss, trailing stop, etc.), additional support for price queries, auctions, dynamic pricing, etc.
• Liquidity protocol. Essentially this is AMM this opens up significant opportunities for liquidity providers while protecting users from attacks.
• Aggregation protocol. It pools liquidity from multiple DEXs to provide the best trading rates.

1 INCH is the platform’s own token. Since it is a governance token, it allows community members to vote on various changes. Voting takes place under DAO model, making the 1inch network efficient and transparent. If you are interested in the current price of 1inch Network, check out the 1INCH price chart above.

History of the 1inch network

The idea for the 1inch network was developed in less than 60 hours during the ETHGlobal hackathon in New York in May 2019. Sergey Kunz and Anton Bukov. They previously met during a live broadcast on Koontz’s YouTube channel called CryptoManiacs. After that, they began participating in hackathons together, which ultimately led to the creation of a huge DeFi project.

This network was created because Kunz and Bukov didn’t like spending so much time searching for the best price on DEX platforms. Thus, they began to look for their own private trading method to create the most convenient system.

What is the 1INCH token?

As mentioned earlier, the 1INCH token governance token 1inch networks. Token stakers have the opportunity to participate in the governance processes of 1inch aggregation and liquidity protocols. They work on the network instant control a feature that allows users to vote on protocol settings without lengthy voting periods.

However, the 1inch network token is also utility token. Primarily from a utility point of view, 1 INCH is used as connector in the liquidity protocol networks to provide highly efficient routing.

Besides, it is also possible to bet on 1-inch derivatives liquidity pools. This allows liquidity providers to earn decent returns for locking their tokens into pools. Additionally, as long as the 1inch Network price remains below the strike price, stakers can generate APRIL Also. Pools are rebalanced every week, so the strike price is constantly changing. Again, you can check the price of 1INCH in the chart above.

One way or another, the 1INCH token was initially developed not as an investment tool, but as a tool for creating and maintaining a decentralized and closed network.

Tokenomics 1INCH

Was three investment rounds during which the project managed to attract $2.8 million, $12 million and $175 million from a huge number of companies and angel investors.

The total supply of 1inch Network tokens is 1.5 billion. In terms of token distribution, 30% goes to community incentive programs. The other largest portion (22.5%) goes to the main investors. The remainder is distributed between sponsors and the 1inch growth and development fund.

Additionally, if you wish to purchase tokens, please note that the price of 1 INCH is quite unstable. Just like with most crypto assets. This is so because the cryptocurrency market is influenced by various factors that cause it to fluctuate. Thus, it would be useful to analyze the price changes on the 1inch network to find the best opportunity to purchase the token.