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1INCH

1inch

1INCH to USD
Performance
Market capitalisation
Total transaction volume
1D
7D
1M
6M
1Y
All Time
Price
1H Arrow Icon
Market cap
Arrow Icon
24h Volume
Arrow Icon
All time high price
Total issued tokens
YTD Performance
YTD High
YTD Low
Maximum supply
1,500,000,000
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Project overview

Launched in December 2020, 1inch is a decentralised exchange (DEX) aggregator built on the Ethereum network. Using a combination of different protocols, 1inch allows users to optimise their trades by searching across multiple exchanges to find the best liquidity sources for cryptocurrency prices, lower fees, and reduced slippage.  

The 1inch network is governed by the 1nch DAO, a decentralised autonomous organisation using smart contracts. The project’s native token, 1INCH, is used for governance and utility within the 1inch ecosystem, enabling network decisions and providing liquidity. 

1inch operates on multiple Ethereum-compatible blockchains, including Polygon, Arbitrum, Avalanche, Optimism, zkSync Era and BNB Chain. 

Technology

1inch distinguishes itself with an aggregation protocol that finds the best exchange rates and lowest fees by scanning multiple decentralised exchanges (DEXs). Unlike traditional DEXs, it can distribute a single transaction across various liquidity pools, optimising cost and minimising market impact. 

With its smart routing capability, 1inch identifies trading paths, balancing speed and cost to enhance trade efficiency and reduce slippage – the difference between the expected and actual prices of transactions. Another standout feature of 1inch is the “Fusion” swap engine, which prevents front-running and enables trading without additional transaction fees, also known as gas fees. 

1inch also launched Chi, a gas token that allows users to significantly save on transaction costs (gas fees). Chi tokens are pegged to the Ethereum network’s gas price, so 1inch users can mint these tokens during low gas periods and then burn them as an alternative to paying Ether gas fees when Ethereum network activity increases.  

Token supply model

1inch adopts a non-inflationary supply model with a fixed maximum supply of 1.5 billion 1INCH tokens. These tokens have a gradual unlocking schedule up to 4 years. 

Around 30 percent of the total supply was allocated as rewards for liquidity mining programs on DEXs like Uniswap, Curve and SushiSwap, as well as for governance participation incentives. An additional 14.5 percent was allocated the 1inch DAO treasury (Network Growth Fund) to support the protocol’s development and growth. The remaining tokens are reserved for the core team, investors, advisors, and backers, with a 4-year continuous vesting schedule to ensure long-term alignment.  

1INCH tokenholders can stake their tokens to earn a portion of the protocol’s trading fees as rewards. 

Key value drivers

Thanks to its capacity to enhance trading efficiency and reduce costs, 1inch stands to benefit on the broader trends within the decentralised finance (DeFi) sector. As DeFi activity grows, platforms like 1inch are expected to attract more users looking for cost-effective exchange services. 

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Disclaimer:

The information in this publication pertaining to Sygnum Bank AG (“Sygnum”) is for general information purposes only, as per date of publication, and should not be considered exhaustive. This publication does not consider the financial situation of any natural or legal person, nor does it provide any tax, legal or investment advice. This publication does not constitute any advice or recommendation, an offer or invitation by or on behalf of Sygnum to purchase or sell any assets. No elements of precontractual or contractual relationship are intended. While the information is believed to be from accurate and reliable sources, Sygnum makes no representation or warranties, expressed or implied, as to the accuracy of the information. Sygnum expressly disclaims any and all liability that may be based on such information, omissions, or errors thereof. Any statements contained in this publication attributed to a third party represent Sygnum‘s interpretation of the data, information and/or opinions provided by that third party either publicly or through a subscription service, and such use and interpretation have not been reviewed by the third party. Sygnum reserves the right to amend or replace the information, in part or entirely, at any time, and without any obligation to notify the recipient of such amendment / replacement or to provide the recipient with access to the information. Simultaneously, there is no obligation of Sygnum to inform recipients of information, if before provided information later becomes outdated, inaccurate or obsolete, unless otherwise provided by applicable law. The information provided is not intended for use by or distributed to any individual or legal entity in any jurisdiction or country where such distribution, publication or use would be contrary to the law or regulatory provisions or in which Sygnum does not hold the necessary registration, approval authorization or license. Except as otherwise provided by Sygnum, it is not allowed to modify, copy, distribute or reproduce, display, license, or otherwise use any content for commercial purposes.

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