1inch Price: 1INCH Live Price Today | Market Cap & Chart Analysis

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What Is 1Inch (1INCH)?

1Inch (1INCH) is a leading multi-chain decentralized finance (DeFi) platform designed to optimize cryptocurrency trading by aggregating liquidity from numerous decentralized exchanges (DEXs). At its core, 1Inch empowers traders to find the most competitive rates for token swaps across a fragmented DeFi landscape.

Instead of manually checking multiple DEX platforms like Uniswap, SushiSwap, or Curve, users can leverage 1Inch’s smart routing algorithm to automatically split trades across various protocols—ensuring optimal pricing and reduced slippage.

Launched in May 2019 on Ethereum during the ETHGlobal New York hackathon, 1Inch has since expanded its reach across major blockchains, including BNB Chain, Polygon, Arbitrum, Optimism, Avalanche, and others. The platform draws liquidity from nearly 200 DeFi sources, making it one of the most comprehensive aggregation tools in the ecosystem.

The native utility token of the network is 1INCH, an ERC-20 token originally issued on Ethereum. Compatible versions are also available on BNB Chain and Avalanche via cross-chain bridges.

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What Is 1INCH Used For?

The 1INCH token plays a crucial role in governance and ecosystem incentives within the 1Inch Network.

Governance Rights

Token holders can participate in decentralized governance by voting on key proposals that shape the future of the protocol. These include decisions about:

This decentralized decision-making model ensures that the protocol evolves according to community consensus rather than centralized control.

Liquidity Mining

While 1Inch discontinued its yield farming initiatives, it continues to support liquidity mining programs on select chains like Ethereum and BNB Chain. Users who provide liquidity to designated pools earn rewards in 1INCH tokens as compensation for their capital risk.

Liquidity providers must deposit equal values of both assets in a trading pair (e.g., ETH/USDC), helping maintain balanced reserves across integrated DEXs. Rewards are distributed based on contribution size and duration.

1INCH Price and Tokenomics

The 1INCH token was first listed on major crypto data platforms in December 2020 at a price of $2.36**. In the early days, its value fluctuated between **$1 and $2 during the first month of trading.

A significant upward trend began in late January 2021. The price surged to a local high of $5.82 in February 2021**, eventually peaking at an all-time high of **$7.45 in May 2021, driven by growing DeFi adoption and increased platform usage.

However, like many altcoins, 1INCH entered a prolonged correction phase after mid-2021. It briefly rebounded to $5.62 in October 2021** before entering a sustained downtrend. By August 2022, the token was trading around **$0.70, reflecting broader market conditions and reduced speculative activity.

Token Supply Overview

Tokens were released gradually starting December 2020, with only 6% of total supply initially unlocked. The full allocation is scheduled to be fully distributed by December 2024.

Initial Token Distribution

This phased release model helps prevent market flooding and supports long-term sustainability.

Who Founded 1Inch?

1Inch was co-founded in May 2019 by two experienced blockchain developers: Sergej Kunz and Anton Bukov.

The project originated during the ETHGlobal New York hackathon, where the duo developed the initial prototype that would become the foundation of the 1Inch Aggregation Protocol.

Sergej Kunz

Based in Germany, Kunz has been active in software development since 2009. Prior to launching 1Inch, he worked as a software engineer at Porsche AG, bringing enterprise-grade technical discipline to the project. He currently serves as CEO of Bulktrade GmbH, an IT consultancy based in Stuttgart.

Anton Bukov

Bukov began his career in software development in 2011 and shifted focus to blockchain in 2017. Before 1Inch, he contributed to notable projects such as BitClave, MultiToken, and the NEAR Protocol, giving him deep expertise in decentralized systems and smart contract architecture.

Their combined experience laid the groundwork for a robust, scalable DeFi solution focused on efficiency and user empowerment.

How Does 1Inch Work?

The core functionality of 1Inch revolves around its Aggregation Protocol, which scans dozens of DEXs simultaneously to identify the best possible swap rates for any given token pair.

Key Features:

One standout feature is that 1Inch charges no additional fees on transactions. Users only pay standard network gas fees and exchange fees imposed by underlying DEXs—making it cost-effective compared to platforms with layered fee structures.

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What Makes 1Inch Unique?

Several factors set 1Inch apart from other DeFi aggregators:

✅ Access to liquidity from nearly 200 DEXs
✅ Support for ten different blockchain networks
✅ Zero platform fees on trades
✅ Advanced order types including limit and RFQ orders
✅ Strong focus on security with regular third-party audits

Few protocols match this level of cross-chain coverage and execution intelligence, positioning 1Inch as a top choice for serious DeFi traders.

How to Store 1INCH Tokens

Since 1INCH exists on multiple blockchains, storage options depend on which chain you're using.

Compatible wallets include:

Always ensure you’re sending tokens to addresses compatible with the correct network (e.g., ERC-20 vs. BEP-20) to avoid loss of funds.

Where Can You Buy 1INCH?

You can purchase 1INCH tokens on most major cryptocurrency exchanges supporting DeFi assets.

While specific exchange guides have been removed per guidelines, users can typically find 1INCH/USDT or 1INCH/BTC trading pairs on leading platforms with spot trading functionality.

Trading options usually include:

These tools allow both novice and experienced traders to enter positions strategically.

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Frequently Asked Questions (FAQ)

Q: Is 1INCH a good investment?
A: As with any cryptocurrency, investing in 1INCH carries risks. Its value depends on DeFi adoption, platform usage, and overall market sentiment. Always conduct thorough research before investing.

Q: Does 1Inch charge transaction fees?
A: No. The platform does not impose additional fees. Users only pay gas fees and DEX trading fees associated with the underlying blockchain and exchange used.

Q: Can I stake 1INCH tokens?
A: While direct staking isn’t offered, users can earn rewards through liquidity mining programs on supported chains like Ethereum and BNB Chain.

Q: On which blockchains is 1INCH available?
A: The token is available on Ethereum (ERC-20), BNB Chain (BEP-20), and Avalanche (via bridge), among others.

Q: What is the maximum supply of 1INCH?
A: There is no hard cap on supply. The total supply is set at 1.5 billion until December 2024; beyond that, more tokens may be minted depending on governance decisions.

Q: How do I participate in 1Inch governance?
A: Holders of 1INCH tokens can vote on governance proposals through the official governance portal linked on the project’s website.

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