The decentralized finance (DeFi) space offers a plethora of opportunities for crypto traders and liquidity providers alike. However, with prices fluctuating rapidly across DEXes and gas fees changing by the minute, it can be difficult to find the best deals. Enter 1inch Network – a DEX aggregator striving to make DeFi more accessible for all.
1inch Network pulls liquidity and prices from over 100 sources on Ethereum, BNB Chain and Polygon to provide traders with the most competitive rates. Using sophisticated algorithms, it analyses DEXes like SushiSwap, Uniswap and Kyber Network in real-time to locate the optimal trading routes offering the lowest slippage.
Instead of users having to manually compare prices, 1inch does the heavy lifting. It intelligently splits orders across multiple venues to execute trades at the true best price. For those who’d rather kick back and let the bots do the work, 1inch is an invaluable tool.
The project is overseen by the 1inch Foundation, a nonprofit founded by DeFi experts Sergej Kunz and Anton Bukov. In addition to the DEX aggregator, 1inch Network offers innovative infrastructure like a limit order protocol enabling complex conditional trades and an amm liquidity pool protocol designed for capital efficiency.
What is the purpose of 1inch Network (1INCH) coin?
As the native token, 1INCH powers governance and participation within the 1inch ecosystem. Holders can stake their coins to vote on protocol upgrades and parameters or provide liquidity to 1inch automated market maker (AMM) pools, earning rewards.
1INCH is also used to pay transaction fees on the 1inch DEX, with a portion burned on each swap to reduce total supply over time. Additional use cases continue emerging like staking benefits from partnerships with clubs like Crypto.com. Overall, 1INCH aims to be the gas that fuels future growth of an entire DeFi metaverse.
How does 1inch Network (1INCH) crypto work?
Under the hood, 1inch Network leverages three core protocols to achieve its mission of maximizing trader returns:
- Aggregation Protocol: Using proprietary Pathfinder software, it locates the top trading routes across DEXes based on liquidity, slippage and gas costs.
- Limit Order Protocol: Enables flexible conditional trades like stop-limit orders to automatically guarantee profits or avoid losses.
- Liquidity Protocol: Powers innovative AMM pools that offer capital efficiency for liquidity providers while protecting users from front-running.
By combining these protocols, 1inch streamlines DeFi navigation. It only takes a single transaction for traders to tap into billions in cross-chain liquidity from a single intuitive interface.
Does 1inch Network (1INCH) token have a future?
Since its 2019 debut, 1inch has steadily expanded its product suite and integrated additional blockchains beyond Ethereum. With a dedicated development team and over $200 million raised from strategic backers like Amber Group and Pantera Capital, its prospects appear bright.
Interacting with dozens of CeFi and DeFi protocols from a single portal provides immense value. As such centralized and decentralized platforms continue proliferating, the need for sophisticated routing between them will only increase. 1inch is well positioned to benefit from this structural growth of the crypto metaverse.
Its entirely non-custodial nature also gives it an advantage over CEX-based aggregators. With a user base of over 2 million wallets and a fully decentralized governance model, 1inch is cementing itself as fundamental DeFi infrastructure. For investors with a long-term horizon, 1INCH presents compelling upside potential.
When 1inch Network (1INCH) coin launched?
1inch debuted on December 2nd, 2020 after being established as an ERC-20 token on the Ethereum blockchain. Prior to its formal launch, the network had been in development since co-founders Sergej Kunz and Anton Bukov’s inception of the project at a 2019 hackathon.
Is 1inch Network (1INCH) crypto a scam?
No, 1inch Network is not a scam. It is an open-source, non-custodial protocol overseen by a respected team of builders. 1inch has undergone multiple independent security audits and established partnerships with reputable institutions like Binance Labs and Amber Group.
Its commitment to transparency, multi-chain interoperability and community participation via governance allays fears some may have of a rug pull. While risks are inherent with any new crypto project, there are no obvious red flags to suggest 1inch Network is anything but a legitimate DeFi player.
Is it safe to invest in 1inch Network (1INCH) token?
As with all cryptocurrency investments, there are inherent risks when buying 1INCH given the unregulated nature of the market. Prices can experience high volatility. That said, for risk-tolerant investors, 1INCH presents a relatively safe bet compared to smaller, more speculative DeFi tokens.
1inch boasts a large community and established use cases like fees generation that lend stability. And with their roadmap expanding, the protocol’s long-term viability seems assured. For those who understand DeFi and don’t need immediate liquidity, owning a portion of 1INCH provides low-risk exposure to the growth of the entire space. Just remember to take profits along the way! With instant global access to all the latest news on exchanges thanks to EXEcrypto, traders can stay on top of market movements too.
Is 1inch Network (1INCH) coin worth it? 1INCH Price 2023
At the time of this writing, 1INCH is trading at $0.266, down nearly 97% from its all-time high of $8.65 in late 2021. However, its fundamentals remain robust with daily trading volume averaging near $90 million. With blue-chip investors continually doubling down, 1inch is well-capitalized to weather the current crypto winter.
Looking ahead, a rebound to new highs seems probable once macro conditions stabilize. As the default DEX aggregator increasingly servicing both retail and institutional liquidity needs, 1INCH could realistically retest $5-7 by late 2024. Longer term, gains of 30x or more aren’t impossible if it maintains network effects as the gateway to DeFi.
For believers in the project’s mission, its compelling tokenomics and multiple use cases make 1INCH a blue-chip standalone investment within a crypto portfolio. The risk-reward looks favorable for those able to hold through short-term volatility.
Where to buy 1inch Network (1INCH) crypto?
The most popular centralized exchanges to purchase 1INCH include Binance, Coinbase, KuCoin, Gate.io, Crypto.com and Kraken. For decentralized liquidity, it’s listed on SushiSwap, Uniswap and Bancor.
To buy on Binance, simply fund your account and search for the 1INCH/USDT or 1INCH/BTC trading pair. Alternatively, swap ETH or another coin for 1INCH directly on Ethereum using a DEX like 1inch.io. Once acquired, coins can be staked, lend or hold long-term in a non-custodial wallet.
How to sell 1inch Network (1INCH) token?
The process for selling 1INCH is largely the reverse of purchasing. Transfer your tokens to the exchange of choice that supports the pair, like Binance, and place a limit sell order. Alternatively, provide liquidity on Ethereum via a DEX.
Post-sale, funds will appear in your exchange account or wallet ready to withdraw. Be sure to check slippage and gas fees. Also, many hodl 1INCH long-term for staking rewards or anticipate future price appreciation given its expanding footprint in DeFi.
How to stake 1inch Network (1INCH) coin?
1inch offers staking options both on its platform as a liquidity provider or through partner protocols. On 1inch, deposit your 1INCH along with another asset into an automated market maker (AMM) pool to earn trading fees as rewards over time.
Other popular sites to stake 1INCH include Crypto.com, which pays up to 14.5% APY, or BiFi, providing 122%+ APY while diversifying impermanent loss risk. Be sure to research minimums, lock durations and token economics before committing funds long-term via staking.
How to mine 1inch Network (1INCH) crypto?
1INCH is not mineable like Bitcoin. It launched as an ERC-20 token on Ethereum and is obtained through initial exchange offerings (IEOs), liquidity mining programs or purchasing on exchanges.
While additional blockchains may be integrated that utilize proof-of-work consensus, 1inch Network itself focuses on governance and utility, not distributed security via mining. The primary ways to earn 1INCH involve using its trading features, providing liquidity to pools or participating in ecosystem governance.
1inch Network provides a valuable decentralized solution for aggregating liquidity across multiple venues. Its expansion potential remains promising as a core DeFi building block. For long-term investors, 1INCH presents a solid bet on continued growth in the crypto metaverse.