About 1inch Network
The 1inch Network unites decentralized protocols whose synergy enables the most lucrative, fastest and protected operations in the DeFi space.
The initial protocol of the 1inch Network is a decentralized exchange (DEX) aggregator that sources liquidity from various exchanges and is capable of splitting a single trade transaction across multiple DEXes. Smart contract technology empowers this aggregator enabling users to optimize and customize their trades.
The 1inch Network was launched at the ETHGlobal New York hackathon in May 2019 with the release of its Aggregation Protocol v1. Since then, the 1inch Network has developed additional DeFi tools such as the Liquidity Protocol, the Limit Order Protocol, P2P transactions, the Fusion mode, and the 1inch Wallet app.
The 1INCH token was released in December 2020. It is the governance and utility token of the 1inch Network. 1INCH holders can stake their tokens to participate in the 1inch Network’s DAO governance. With the Fusion upgrade, users can stake 1INCH tokens to receive Unicorn Power (UP), then subsequently delegate their UP to any 1inch Fusion Resolver to start receiving rewards from them.
1inch Network Features
- Multiple chain support. 1inch protocols are deployed on the following networks: Ethereum, BNB Chain, Polygon, Arbitrum, Optimism, Gnosis Chain, Avalanche, Klaytn, Aurora and Fantom.
- Never-ending liquidity. 1inch instantly analyzes thousands of quotes and fees across multiple DEXes to provide users with the best rates.
- High-grade security. 1inch smart contracts have been audited by 16 separate projects, which, according to The Block, is the highest number of security audits among all DeFi projects.
- Zero gas fees. Using the Fusion mode, there is no need to hold network tokens (ETH, BNB, MATIC, etc.) on your balance to pay gas fees.
- MEV protection. 1inch users can rest assured that their transactions are protected from MEV with the most advanced measures taken by professional market makers.
- Decentralization. While almost as advanced as centralized services, 1inch still retains its decentralized nature, enabling users to own their private keys.
1inch Network Services
1inch dApp – a web-based application that is connected to all supported blockchains via smart contracts. The 1inch dApp offers access to deep aggregated liquidity and competitive token swap rates on various DEXes, with unique features, including partial fill and the ability to find the best swap paths across multiple liquidity sources.
The 1inch Aggregation Protocol sources liquidity from various exchanges and is capable of splitting a single trade transaction across multiple DEXes. Smart contract technology enables users to optimize and customize their trades.
The 1inch Limit Order Protocol is a set of smart contracts that allows users to place limit orders, and RFQ orders, which later can be filled on-chain. Thanks to the gasless limit order feature, an entry threshold for new users of 1inch protocols became significantly lower.
The 1inch Liquidity Protocol (previously called Mooniswap) is an AMM that aims to offer capital-efficient liquidity positions while protecting users from front-running.
The 1inch API, Pathfinder, is a cutting-edge discovery and routing algorithm, which offers asset exchanges at the best rates on the market. Pathfinder finds the most efficient paths for a token swap, able to split between different protocols and even different market depths within one protocol in the shortest possible time.
The 1inch Spot Price Aggregator is a set of smart contracts that extract price data for tokens traded on DEXes from the blockchain. To avoid price manipulations within a transaction, the spot price aggregator should only be used off-chain.
The 1inch RabbitHole is a feature that solves the problem of sandwich attacks by sending swap transactions on 1inch directly to validators and avoiding putting them to the mempool where sandwich bots can attack them.
The 1inch Swap Engine, partially based on the existing tech, including the 1inch Limit Order Protocol and the 1inch Aggregation Protocol, is a decentralized trading and matching system that connects DeFi users with practically limitless liquidity – both centralized and decentralized – through professional market makers. The 1inch Swap Engine facilitates the Fusion mode, which empowers DeFi users to place orders with a specified price and time range, paying no network fees.
1inch Network Products
The 1inch Wallet is a fast and secure non-custodial crypto wallet with a built-in DEX aggregator.More about 1inch Wallet
1inch Network Team
Anton Bukov Anton Bukov
Co-founder, Lead Software Engineer & Architect
Co-founder, Lead Fullstack Software Engineer & Architect
All images, branding and wording is copyright of 1inch Network. All content on this page is used for informational purposes only. CryptoSlate has no affiliation or relationship with the company mentioned on this page.