Introduction
Decentralized finance (DeFi) has revolutionized cryptocurrency trading by eliminating intermediaries, but standalone decentralized exchanges (DEXs) often suffer from slippage and high gas fees. The 1Inch Network addresses these issues by aggregating liquidity from multiple DEXs, ensuring optimal trade routing through an intuitive interface.
What is 1Inch Network?
Founded in 2019 by Sergej Kunz and Anton Bukov, 1Inch is a multi-chain DEX aggregator that sources liquidity from various decentralized exchanges to offer users the lowest swap rates. Initially Ethereum-focused, it now supports BNB Chain, Polygon, Optimism, Arbitrum, Gnosis, and Avalanche, with 82+ liquidity sources on Ethereum alone.
👉 Discover how 1Inch optimizes swaps
Standout Features of 1Inch
Zero Transaction Fees
- Users only pay network gas fees; 1Inch charges no additional costs.
Fully Decentralized
- No KYC or personal data required.
OTC Trading
- Slippage-free swaps via private market makers, ensuring fixed prices.
Enhanced Security
- Non-custodial platform; users retain full asset control.
Chi Gas Token
- Reduces gas fees by up to 40% when activated.
Smart Contract Safety
- Acts as a router, minimizing hack risks.
Milestones and Partnerships
- Router Upgrade (V4): Reduced gas costs and improved swap efficiency (November 2021).
- Bitquery Collaboration: Integrated real-time trading data feeds (March 2021).
- GameFi Expansion: Launched DeFi Racer, a Play-to-Earn game (December 2021).
- $175M Fundraising: Backed by VanEck, Alameda Research, and others to fuel protocol growth.
- $3M Grant Program: Supports developers building on 1Inch (July 2021–2022).
How to Use 1Inch DEX
- Connect Wallet: Use MetaMask, Trust Wallet, or other supported options.
- Select Tokens: Choose input/output tokens via dropdown menus.
- Adjust Settings: Customize slippage tolerance and gas fees.
- Execute Swap: Confirm the transaction in your wallet.
👉 Learn more about swapping on 1Inch
1Inch Tokenomics
- Token: $1INCH (1.5B total supply).
- Utility: Governance voting (via staking) and liquidity provider incentives.
- Distribution: 30% for community incentives, 14.5% for development (unlocked over 4 years).
FAQs
Q: How does 1Inch reduce slippage?
A: By routing trades across multiple DEXs to find the best liquidity pools.
Q: Is 1Inch safe to use?
A: Yes—it’s non-custodial and audited, with no reserve holdings.
Q: What chains does 1Inch support?
A: Ethereum, BNB Chain, Polygon, Optimism, Arbitrum, Gnosis, and Avalanche.
Q: Can I trade without KYC?
A: Absolutely. 1Inch requires no personal information.
Closing Thoughts
1Inch Network stands out as a top-tier DEX aggregator, solving critical DeFi pain points like high fees and slippage. Its cross-chain expansion, innovative features (e.g., Chi token, OTC trading), and strong partnerships position it as a leader in decentralized trading.
Explore 1Inch: