Overview
1inch Network, a leading decentralized exchange (DEX) aggregator, has secured $175 million in a Series B funding round led by Amber Group. The round included participation from prominent institutional investors such as Jane Street, VanEck, Alameda Research, and Gemini Frontier Fund, among others.
Key Highlights
- Funding Goal Exceeded: Initial target of $70 million surpassed due to high investor demand, culminating in $175 million raised.
- Institutional Focus: Funds will accelerate 1inch Pro, a compliant platform for institutional DeFi access in Europe and the U.S.
- Governance Expansion: Plans to enhance utility of the 1INCH token via staking protocols and insurance mechanisms by Q1 2022.
1inch’s DeFi Aggregation Model
1inch scans multiple liquidity pools to optimize token swaps, offering users the best trade rates across decentralized platforms. This efficiency has driven its rapid adoption, with prior funding rounds from Binance Labs ($2.8 million) and Pantera Capital ($12 million).
👉 Discover how 1inch revolutionizes token trading
Transition to Decentralization
1inch is migrating to a DAO (Decentralized Autonomous Organization) structure, aiming for full decentralization of its protocols and governance. The 1inch DAO will empower token holders to vote on network decisions, fostering democratic participation.
Investor Spotlight: Amber Group
Amber Group, a global crypto finance leader, manages $4 billion+ in assets** and services 800+ institutional clients. Its 2021 $100 million Series B round solidified its status as a FinTech unicorn** (valued over $1 billion).
Future Roadmap
- Team Expansion: Double the current 70+ global workforce.
- Protocol Development: Launch risk-coverage features using 1INCH tokens.
FAQs
Q: What is 1inch’s primary service?
A: 1inch aggregates liquidity from multiple DEXs to provide users with optimal token swap rates.
Q: How will the $175 million funding be used?
A: Prioritizing 1inch Pro for institutions, protocol development, and DAO decentralization.
Q: What is Amber Group’s role in this round?
A: Amber Group led the funding, leveraging its expertise in institutional crypto services.
👉 Explore institutional DeFi opportunities
Conclusion
1inch’s latest funding underscores its pivotal role in DeFi’s institutional adoption, with Amber Group catalyzing its vision for a decentralized, compliant future.