Aggregation vs. Standalone Exchange:
1inch: 1inch operates as a decentralized exchange aggregator. It sources liquidity from various DEXes, including Uniswap, Kyber, and others, to provide users with the best possible trading routes and rates.
Uniswap: Uniswap is a standalone decentralized exchange that uses an automated market maker (AMM) model. It has its liquidity pools, and users can trade directly with these pools.
Optimization Algorithm:
1inch: 1inch is known for its algorithm that optimizes trades by finding the most cost-effective and efficient trading routes across multiple DEXes. This algorithm aims to reduce slippage and provide users with better execution prices.
Uniswap: Uniswap's AMM model relies on a simple formula to determine token prices within its liquidity pools. While it provides a straightforward and automated trading experience, it may result in higher slippage for larger trades compared to optimized aggregators like 1inch.
Multi-Chain Support:
1inch: 1inch has expanded its services beyond Ethereum and supports multiple blockchains, including Binance Smart Chain (BSC), Polygon, and others. This allows users to access liquidity on different chains.
Uniswap: As of my last knowledge update, Uniswap primarily operates on the Ethereum blockchain. There are discussions and proposals to bring Uniswap to other blockchains, but significant developments may have occurred since then.
Governance Token:
1inch: 1inch has its governance token, called 1INCH. Holders of the token can participate in the governance decisions of the protocol.
Uniswap: Uniswap has its governance token, UNI, which allows token holders to participate in the governance of the Uniswap protocol.
User Interface and Experience:
1inch: 1inch provides a user-friendly interface that displays aggregated liquidity and offers features for optimized trading. Users can access the 1inch platform through its web interface or integrate it into various wallets.
Uniswap: Uniswap is known for its simple and easy-to-use interface, accessible directly from users' wallets or through various decentralized finance (DeFi) interfaces.