Key Takeaways
– 1inch Exchange is a decentralized exchange (DEX) aggregator that sources liquidity from multiple DEXs to offer users the best crypto swap rates.
– Core features include liquidity aggregation, limit orders, multi-chain integration, and zero service fees on select swaps.
– The platform utilizes its native 1INCH token for governance and utility, alongside CHI Gas Token to reduce Ethereum gas costs.
– 1inch provides decentralized trading solutions, empowering users with full asset control compared to centralized exchanges.
What Is 1inch Exchange?
1inch Exchange revolutionizes DeFi trading by combining two critical functions:
- DEX Swaps: Enables crypto buying/selling via decentralized platforms.
- DEX Aggregation: Scans 50+ DEXs (e.g., Uniswap, SushiSwap) to split orders for optimal pricing and reduced slippage.
Unlike traditional DEXs, 1inch uses arbitrage bots to automate multi-DEX order routing, ensuring the lowest fees and minimal price impact—especially for large trades.
Evolution of 1inch
- Founded: March 2019 by Sergej Kunz and Anton Bukov.
- MVP: Launched at ETHNewYork hackathon, initially aggregating liquidity from Bancor, Kyber, and Uniswap.
Features of 1inch Exchange
| Feature | Description | Benefit |
|---------|------------|---------|
| Liquidity Aggregation | Sources liquidity from 50+ DEXs | Best rates via multi-DEX order splitting |
| Limit Orders | Supports stop-loss/trailing-stop orders | Advanced trading with zero fees |
| Multi-Chain | Integrates Ethereum, BSC, Polygon, etc. | Lower fees vs. Ethereum mainnet |
| CHI Gas Token | Reduces Ethereum gas costs | Cost savings during network congestion |
How to Use 1inch Exchange
- Connect Wallet: MetaMask, Coinbase Wallet, or WalletConnect-supported wallets.
- Select Tokens: Choose input/output cryptocurrencies.
- Adjust Settings: Customize gas fees, slippage tolerance, and liquidity sources.
- Execute Swap: Confirm transaction via your wallet.
1INCH Tokenomics
- Max Supply: 1.5 billion tokens.
- Use Cases: Governance staking, fee discounts, and liquidity incentives.
Distribution:
- 30% Community incentives
- 22.5% Core contributors
- 14.5% Network growth fund
Current Price: Track 1INCH here
Competitor Comparison
| Aggregator | Key Differentiator | Supported Chains |
|------------|-------------------|------------------|
| 1inch | CHI Gas Token, limit orders | 12+ |
| ParaSwap | Gasless transactions | 9+ |
| Matcha | MEV protection | 7+ |
FAQs
1. Is 1inch safe to use?
Yes—it’s non-custodial and requires no KYC.
2. How does 1inch reduce fees?
By splitting trades across DEXs and utilizing CHI Gas Tokens.
3. Can I farm yield on 1inch?
Yes, via LP token staking in supported pools.
4. What chains does 1inch support?
Ethereum, BSC, Polygon, Avalanche, and Layer 2 solutions like Arbitrum.
Clause de non-responsabilité: This content is for informational purposes only. Always prioritize security and conduct independent research before trading.