1inch Price

1inch is a cryptocurrency that powers the 1inch Network, a decentralized exchange (DEX) aggregator launched in 2020. Currently ranked 183 with a price of $0.2851, 1INCH helps users find the most efficient trading routes across multiple blockchain networks. The token serves multiple functions within the ecosystem: - Governance: Token holders can vote on protocol changes - Staking: Users can stake tokens to earn rewards - Fee discounts: Holders receive reduced trading fees 1inch operates primarily on Ethereum but has expanded to multiple blockchains including Avalanche, Solana, BNB Chain, and Near Protocol. With a circulating supply of 1.39B 1INCH out of 1.49B 1INCH total tokens, 1INCH has a market cap of $397.57M. In the past 24 hours, 1INCH has changed -5.08% with a trading volume of $13.32M. The token reached a high of $0.3221 and a low of $0.2736 during this period.

1inch was created on December 25, 2020. The token was launched following the success of the 1inch DEX aggregator platform, which was founded in May 2019 by Sergej Kunz and Anton Bukov. The 1INCH token was designed to serve as the governance token for the 1inch Network ecosystem, allowing holders to participate in protocol governance decisions. Since its launch, 1inch has become an integral part of the decentralized exchange and DeFi landscape.

The founders of 1inch are Sergej Kunz and Anton Bukov. They launched the protocol in December 2020 during the DeFi boom. Sergej Kunz serves as the CEO while Anton Bukov is the CTO. Before creating 1inch, both founders had extensive experience in blockchain development. They initially created the protocol as a hackathon project before evolving it into a full-fledged DEX aggregator. The founding team has since expanded the 1inch ecosystem to include multiple blockchain networks and DeFi tools.

1inch works as a decentralized exchange (DEX) aggregator that splits users' trades across multiple liquidity sources to find the most efficient trading routes. The protocol searches and compares prices across various DEXs to secure the best possible rates with minimal slippage. When users make a swap using 1inch, smart contracts automatically route the transaction through the optimal path, sometimes splitting it across multiple exchanges to maximize returns. The 1INCH token powers the ecosystem by providing governance rights, staking benefits, and fee discounts. Currently trading at $0.2851 with a market cap of $397.57M, 1inch continues to innovate in the DeFi space by offering features like limit orders, gas optimization, and cross-chain swapping capabilities across Ethereum, Binance Smart Chain, Avalanche, and other supported networks.

1inch operates on a multi-layered technical architecture designed for optimal decentralized trading. At its core is the Aggregation Protocol, which functions as a smart routing system that searches across multiple DEXs to find the best trading rates. This protocol splits transactions across various liquidity sources to minimize slippage and maximize returns. The architecture also includes the Liquidity Protocol, which enables users to provide liquidity to earn fees, and the Limit Order Protocol for executing trades at specific price points. 1inch implements a DAO governance structure where 1INCH token holders can vote on protocol changes. Built primarily on Ethereum, 1inch has expanded to multiple blockchains including Avalanche, Solana, BNB Chain, and Near Protocol, allowing for cross-chain functionality. The system employs advanced algorithms for path-finding and gas optimization to ensure efficient trades even during high network congestion.

The future of 1inch looks promising with several key developments on its roadmap. As a leading DEX aggregator, 1INCH is focusing on expanding cross-chain capabilities across Ethereum, Avalanche, Solana, and other ecosystems. By 2025, the protocol aims to enhance its liquidity aggregation algorithms and introduce more advanced features for its governance system. The 1INCH team is working on improving the protocol's capital efficiency, reducing gas costs, and implementing more sophisticated limit order functionality. Their roadmap includes further development of the Fusion mode for gas-free swaps and enhanced staking mechanisms to increase token utility. With a current price of $0.2851 and market cap of $397.57M, 1INCH is positioned to grow as DeFi adoption increases. The team is also exploring new partnerships with other DeFi protocols to expand its ecosystem and increase token utility. Long-term goals include becoming the primary liquidity layer for the entire DeFi ecosystem, with improved governance mechanisms allowing token holders more influence over protocol development by 2026.