1inch Exchange (1INCH) price, marketcap, chart, and fundamentals info
1inch is a non-custodial DEX aggregator, with all transactions carried out in a single transaction from the user’s Ethereum-based wallet.
Provides users with the cheapest deals, the lowest slippage, and access to a wide variety of ERC-20 tokens. According to CoinGecko, the exchange supports 283 coins and 296 trading pairs.
- Popular DEXs integrated into 1inch protocol include Oasis, Kyber Network, Uniswap, Mooniswap, Balancer and more. This means that users can swap between almost any ERC-20 token.
- Native token 1INCH is both governance token and unility token
- The platform has its own Gastoken “Chi” to help users. Especially experienced traders and arbitrage traders, reducing gas costs for transactions.
- The 1inch team also introduced Mooniswap, a next generation automated market maker (AMM) with virtual balances. Allows the Liquidity Provider to reap the profits earned by the arbitrage traders.
Solved 1inch problems
- DEX is becoming increasingly popular among users with various advantages over its centralized counterparts. It is self-management, enhanced security, autonomy in listing, and diversity of coins.
- Some of the major drawbacks are thin order books with low liquidity resulting in high slippage and expensive transaction cancellations.
- When every order is sent to the blockchain, anyone can see a transaction before it is mined. This visibility makes all transactions easily blocked as front runners may pay a higher price of gas in order to incentivize their network to trade first.
How does 1inch solve the problem?
- At 1inch exchange, users can swap as well as set limit orders for many tokens.
- Transactions over 1 inch can be split between exchanges, to minimize slippage and provide the best possible price for the desired trade. Mooniswap, Oasis, Kyber Network, Uniswap, 0x Relays and more are all integrated into the 1inch protocol.
- The prices and liquidity available from each platform are clearly displayed to the user, along with the gas fees. This saves users both time and clicks. Avoid having to open a lot of conversations and evaluate orders.
Fee per 1inch exchange
1 inch with no withdrawal fees. The only fee is the network fee charged by the exchange that the user routes through, eg Uniswap, Kyber Network, …), this amount depends on the gas price at the time of the transaction.
Since this fee is charged by another exchange, 1 inchv does not benefit from this fee in any way. However, users have the option to save gas by using 1 inch Chi GasToken.
What is 1INCH token?
On December 26, 2020, the Independent Board of the 1inch Foundation issued 1INCH token. Free tokens are being distributed to the community to commemorate the launch of the 1INCH token.
1INCH is both governance and unility token. As a governance token, 1INCH will be used to manage its network protocols and thus allow it to be managed under a Decentralized Autonomous Organization (DAO) model.
|Token Standard||Governance, Unility|
|Total Supply||1,500,000,000 1INCH|
|Circulation supply||77.084.211 1INCH|
The total INCH token supply is 1,500,000,000, with the following allocation:
- Core Backers and Contributors: 53.3%
- Community Incentives: 30%
- Protocol Growth and Development: 14.4%
- Advisors: 2.3%
On December 26, 2020 (release date), 6% of the total supply will be released. Other tokens will continue to be released from time to time as follows:
- 30% has been allocated to Community Incentives which will be unlocked and distributed over 4 years.
- 14.5% will go towards Protocol Growth and Development will also be unlocked in a 4 year period.
1INCH token Sale
1 inch has raised nearly 14.8 million USD from private investors for about 30.8% of the total supply of 1INCH tokens from August to December 2020.
On which exchange is 1INCH token?
The easiest way is to register and buy 1INCH coins at two exchanges, Binance and Huobi:
In which wallet is 1INCH safe?
This is an ERC-20 token so it’s pretty easy to find a suitable wallet for example: Trustwallet, Ledger Nano X, MyEtherWallet, MetaMask.. Or you can store it directly on an exchange, where you bought that token. Remember to turn on full security.
1inch’s potential rating
Trading volume of 1inch currently has reached 8.4 billion USD. An impressive number, right.
With Mooniswap being a new AMM of the protocol released August 2020. The team performed many Mooniswap performance simulations based on real world data and compared the results with Uniswap V2.
Below you can find charts showing the volume, cumulative slippage, earnings of the LP Uniswap V2, along with the earnings forecast for the Mooniswap LPs.
On average, Mooniswap is expected to generate 50 to 200% more income for LPs than Uniswap V2 due to slippage profit diversion.
The benefit far outweighs its limitations when it tries to solve some of the serious problems that are hindering the development of the DeFi ecosystem.
The platform is definitely geared towards more experienced traders, especially those who trade major cryptocurrencies and on multiple DEXs. Over time the user experience improves, the 1inch may emerge as one of the most important trading platforms for the rapidly expanding DEX ecosystem.
Is 1inch Exchange safe?
The 1inch Exchange is the non-custodial DEX aggregator. This is not like some centralized exchange where your cryptocurrency is stored in their wallet for trading.
It’s also worth noting that so far there has been a record of not being subjected to any hacks or security holes so far.
Should I use 1inch Exchange?
You can consider some of the following pros and cons to consider. 1 inch Exchange has the following advantages:
- Exchange’s interface is intuitive.
- No withdrawal fees, except network fees.
- Solve liquidity problem by splitting order books on exchanges but keeping the transaction in one transaction.
- Spending GasTokens helps users, especially daily traders and arbitrage traders, to reduce gas costs for their transactions.
- New AMM – Mooniswap takes advantage of user slippage and protects traders from front-running attacks.
However, there are also disadvantages such as:
- It is quite difficult to use many of the features that Exchange offers.
- The infinity unlock feature can act as a potential attack point for hackers. While unlocking each transaction is a bit more expensive, it’s more secure because the user doesn’t always associate with the protocol if it’s compromised.
Should we all invest in 1INCH token?
Hope my easy-to-understand reviews will help you have a good view of the 1inch. Please consider carefully before investing money.
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