Thursday, March 28, 2024

1inch

by Hideo Nakamura
1inch

1inch is a decentralized exchange aggregator and automated market maker (AMM) protocol that allows users to swap tokens with the best possible rate across major DEXs like Uniswap, Kyber Network, Bancor, Balancer and 0x. It attempts to maximize liquidity by routing orders through multiple exchanges in order to find the most favorable rates for its users.

The 1inch platform was founded in May 2019 by Sergej Kunz and Anton Bukov. The company has raised $12 million from investors including Pantera Capital and Dragonfly Capital Partners. In 2020 it became one of few projects accepted into Ethereum’s scaling initiative Optimism’s open testnet launch program which aims at enabling efficient layer 2 transactions on the blockchain network.

To use 1inch you must have an account set up on either Ethereum or Binance Smart Chain networks as well as some ETH or other ERC-20 tokens (BEP-20 tokens are supported too). After connecting your wallet you can begin using all features available such as pooling funds together so that they could be exchanged without slippage costs even during highly volatile markets; exploring various options when trading digital assets; setting up advanced strategies via AMMs; receiving rewards after adding liquidity etc.. Additionally there are two ways of accessing services offered by this platform: classic web version running inside browser window or mobile app found both iOS App Store & Android Play store respectively where additional functions such as Token Swaps/Airdrops/Staking may be used also .

In conclusion if you want access to high liquidity pools while having opportunity take advantage of low fees then feel free explore what 1INCH provides!

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