overview

1inch is an intermediary exchange through which user transactions can be split between different exchanges affiliated with 1inch, to get the best possible price for the desired transaction , and minimize price slippage. Mooniswap, Oasis, Kyber Network, Uniswap, 0x Relays and others are all integrated into the 1inch protocol.

At 1inch Exchange, users can swap as well as place limit orders for many types of tokens. On 1inch's interface, the prices and liquidity available from each platform are clearly displayed to users. This helps users save both time and effort in choosing a floor, while avoiding having to open multiple exchanges and evaluate orders.

1inch's ecosystem started with the 1inch Exchange product, launched in May 2019 at ETHGlobal Hackathon. Since its launch, 1inch Exchange is one of the indispensable factors of the DeFi community with more than 20,000 users. In August 2020, 1inch continued to launch a product called Mooniswap - a market creation model similar to Uniswap.

1inch Token or 1inch Network Token (1INCH) is a cryptocurrency used in the 1inch ecosystem for many different purposes such as:

Rewards: 1inch uses 1INCH coin as rewards for liquidity providers on Mooniswap Free transaction fees: Users can use 1INCH coin to reduce transaction fees on the 1inch Exchange platform. In the future, when 1inch launches Lending (lending feature), users can use 1INCH coin as collateral. In addition, 1INCH is also understood as the electronic currency representing the 1inch ecosystem, helping the community invest, hold, trade, and benefit based on 1inch's business activities.