The current price of 1inch Network is $0.1768 USD**, with a 24-hour trading volume of **$17.29 million. Over the past day, 1INCH has shown 0.00% price movement. The circulating supply stands at 1.39 billion 1INCH, with a max supply capped at 1.5 billion.
What Is 1inch Network?
1inch Network seamlessly integrates multiple decentralized protocols, empowering users to execute efficient, secure, and user-friendly Web3 operations.
👉 Discover how 1inch aggregates liquidity across hundreds of sources
Key Components:
- 1inch Aggregation Protocol: Optimizes swap rates across decentralized exchanges (DEXs).
- 1inch Liquidity Protocol: Provides pooled liquidity solutions.
- 1inch Limit Order Protocol: Enables advanced order types.
- 1inch Wallet: A mobile app for secure crypto storage, swaps, and transfers.
How It Works:
1inch's swap engine leverages Dutch auction models for greater efficiency and MEV protection. Its Fusion Mode allows fee-free swaps at optimal rates, executed by professional resolvers to safeguard against maximal extractable value (MEV).
The Evolution of 1inch Network
Founded during ETHGlobal's 2019 New York hackathon by Sergej Kunz and Anton Bukov, 1inch solved a critical DeFi pain point: fragmented liquidity. Their prototype aggregated disparate DEX rates into a single interface, laying the foundation for today's network.
Utility of the 1INCH Token
Launched in December 2020, the 1INCH token serves dual purposes:
- Governance: Stake tokens to vote in 1inch DAO proposals.
- Unicorn Power (UP): Stake 1INCH to earn UP, delegatable to Fusion resolvers for rewards.
FAQ Section
Q: How does 1inch ensure swap efficiency?
A: By scanning hundreds of liquidity sources and using Dutch auctions for price optimization.
Q: What’s unique about Fusion Mode?
A: Zero network fees, MEV protection, and resolver-executed swaps.
Q: Where can I stake 1INCH tokens?
A: Via the 1inch platform to participate in governance or earn UP.