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What is 1inch Network (1INCH)?

1inch Network basic info

Name:1inch Network

Ticker:

1INCHBuy now

Introduction:

What Is 1inch Network?

1inch Network is a decentralized exchange (DEX) aggregator and automated market maker (AMM) that offers a seamless and cost-effective trading experience. Founded by DeFi aficionados Sergej Kunz and Anton Bukov, the platform was officially launched in August 2020, although its inception dates back to the ETHNYC hackathon in 2019. The network is a brainchild of 1inch Labs and is governed by the 1inch DAO, fostering community-driven initiatives and developments.

The 1inch Network is designed to address the challenges traders face in finding the best exchange rates across various DEXs. By aggregating data from top decentralized exchanges, it ensures users get the best possible prices for their crypto assets, thus optimizing potential returns. At the moment, 1inch is available on most popular EVM-compatible chains, which are Ethereum, Polygon, Avalanche, Fantom, BNB Chain, Arbitrum, Optimism, Klaytn, Aurora, and Gnosis.

Resources

Official Documents: https://docs.1inch.io/

Official website: https://1inch.io/

How Does 1inch Network Work?

At the heart of the 1inch Network is the Pathfinder algorithm, a sophisticated tool that scans over 50 liquidity sources such as Ethereum, 20 on Binance Smart Chain, and 7 on Polygon to find the most efficient trading paths. This innovative protocol divides a single trade across multiple exchanges, ensuring users benefit from the best rates and minimal fees. The aggregation protocol is complemented by a liquidity protocol that facilitates automatic trades using liquidity pools, and a limit order protocol that allows users to place limit orders on their asset swaps via smart contracts.

The 1inch Network operates with full non-custodial principles, meaning that users' assets are never controlled by a central entity or third party, thereby eliminating the risk of asset freezing or censorship. This commitment to security and transparency is further evidenced by the network's high trust score and numerous security audits conducted by industry-leading firms.

What Is The 1INCH Token?

The 1INCH token, launched on December 25, 2020, serves as the governance and utility token of the 1inch Network. 1INCH token plays a central role in the network's decentralized governance structure. With a total supply of 1.5 billion tokens, it facilitates community participation in the decision-making processes, allowing users to create proposals or vote on existing ones. Moreover, the 1INCH token enables holders to earn passive income through liquidity provision and staking, fostering a community-centric ecosystem where users are rewarded for their contributions.

1inch Network’s Impact on Finance

The 1inch Network is poised to redefine the financial landscape by offering a decentralized platform that combines the best features of a DEX aggregator and an AMM. Its innovative approach to finding the most efficient trading routes and offering the best swap rates positions it as a frontrunner in the DeFi space, attracting a growing user base seeking transparency, security, and profitability.

Furthermore, the network's commitment to community governance and rewarding participation through the 1INCH token creates a decentralized and inclusive financial ecosystem. By fostering blockchain mass adoption through user-friendly interfaces and offering opportunities for earning governance rewards and passive income, the 1inch Network is spearheading a financial revolution that embraces decentralization and community empowerment.

What Determines 1inch Network’s Price?

In the dynamic landscape of decentralized finance (DeFi), the 1inch Network has emerged as a leading decentralized exchange aggregator, offering users seamless and optimized trading experiences. Understanding the factors influencing the 1inch Network price or the fluctuations in the 1INCH token price requires a comprehensive analysis of various elements, including market trends, liquidity, and the broader cryptocurrency market dynamics.

The 1INCH price today mirrors its current market demand, largely dictated by its role and utility within the expansive DeFi ecosystem. When making 1INCH coin price predictions, experts often analyze historical performance data and recent developments in the network. Since its inception, the 1INCH cryptocurrency has experienced considerable appreciation, peaking at an all-time high of $7.8 in May 2021.

Analysts specializing in 1inch Network price analysis frequently underscore its potential to exceed this previous peak, possibly reaching up to $10 in the short term, given its ongoing developments and expanding user base. Its market cap, which hovers around US$248 million as of September 2023, signifies its escalating prominence in the DeFi sector.

Prospective investors who buy 1inch Network tokens should consider several aspects, including the live 1INCH price, forecast trends, and the latest developments in 1INCH crypto news. The potential for investment in the 1inch Network is often highlighted by its unique features, such as the Pathfinder algorithm, which identifies the most economical trading routes, and a governance model that grants 1INCH token holders a say in pivotal decision-making processes. Moving forward, predictions like the 1INCH price prediction for 2023 will be closely monitored by investors keen on forecasting the future trajectory of the 1INCH token in the vibrant world of DeFi investments.

Conclusion

The 1inch Network stands as a beacon of innovation in the decentralized finance (DeFi) sector, offering users an optimized and secure platform for cryptocurrency trading. Through its sophisticated Pathfinder algorithm and a dynamic governance model facilitated by the 1INCH token, it is fostering a community-centric ecosystem that promises transparency and enhanced profitability. As a decentralized exchange aggregator and automated market maker, 1inch is significantly influencing the blockchain network by streamlining trades and offering the best swap rates across various DEXs. Given its steadfast commitment to user empowerment and ongoing developments, it continues to carve out a dominant space in the DeFi landscape, showcasing immense potential for growth and fostering mass blockchain adoption. Prospective investors and crypto enthusiasts eyeing the 1INCH token can look forward to a vibrant and inclusive financial future grounded in decentralization and community-driven initiatives.

Current price:

$0.3895More price details

All-time high:$7.87

All-time low:$0.2135

1INCH supply and tokenomics

Circulating supply:1,396,904,600 1INCH

Total supply:1,500,000,000 1INCH

Max supply:0 1INCH

Market cap:$544.09M

Fully diluted market cap:$584.25M

Token allocation:

Community Incentives

30.00%

Core Contributors

22.50%

Backers 1

18.50%

Network Growth Fund

14.50%

Backers 2

12.20%

Small Backers

2.30%

Tokenomics:

Uniqueness

To access to deepest liquidity from multiple sources across multiple blockchains, the 1inch Network offers users attractive prices and a high degree of security being the most audited project in DeFi.

In late 2022, the Fusion mode was introduced, which enables users to exchange tokens on various DEXes without paying any network fees, at the most favorable rates.

Also, in Fusion mode, professional traders who fill users’ orders use the most sophisticated and efficient ways of protecting users’ trades from MEV. So, users simply don’t have to worry about MEV.

Token utility

The 1INCH token is the governance and utility token of the 1inch Network. The token is applied in different capacities in the existing protocols and will be used in the tokenomics of all new protocols released by the 1inch Network. 1INCH is a multichain token, currently available on Ethereum and on BNB Chain over a bridge.

Currently, the main application of 1INCH as a utility token is in the 1inch Liquidity Protocol where it is used as a connector to achieve high-efficiency routing.

Token governance

The 1INCH token is used to govern all of the 1inch Network's current and future protocols. It is utilized in the governance modules of the 1inch Aggregation Protocol and the 1inch Liquidity Protocol.

Links

Website:https://1inch.io/

Whitepaper:https://docs.1inch.io/

X:https://twitter.com/1inch

GitHub:https://github.com/1inch

Buy 1inch Network for $1Buy 1INCH now

What is the development prospect and future value of 1INCH?

The market value of 1INCH currently stands at $544.09M, and its market ranking is #148. The value of 1INCH is widely recognized by the market. When the bull market comes, the market value of 1INCH will likely continue to increase.

Moreover, if 1INCH can play a greater role in practical applications, such as 1inch Network builders fully leveraging the potential of 1INCH, partnering with more businesses, and increasing its user base, the long-term value of 1INCH will be significantly enhanced.

What will the price of 1INCH be in 2025?

Based on 1INCH's historical price performance prediction model, the price of 1INCH is projected to reach $0.4378 in 2025.

What will the price of 1INCH be in 2030?

In 2030, the 1INCH price is expected to change by +2.00%. By the end of 2030, the 1INCH price is projected to reach $0.9271, with a cumulative ROI of +144.61%.

Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of 1INCH and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

1INCH price 1INCH price prediction 1INCH news

Is 1INCH worth investing or holding? How to buy 1INCH from a crypto exchange?

If you want to buy 1INCH, the following information may be helpful for your investment decisions:

In the last 7 days, the price of 1INCH has fallen by -20.96%, leading to negative returns for most 1INCH investors. The market is currently pessimistic about the price trend of 1INCH.

It is important to note that the current price of 1INCH has retreated by -95.05% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.

Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.

To decide whether 1INCH is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.

Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in 1INCH or any cryptocurrency comes with certain risks and uncertainties.

Regardless of your outlook on the development prospects and future trends of 1INCH, if you want to buy or sell 1INCH, you can consider Bitget for your trading needs. The best place to buy 1INCH is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.

Investing in 1inch Network has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy 1inch Network. Here's a step-by-step guide on how to buy 1inch Network on Bitget.

Buy 1INCH now Coin buying guide

How to get 1inch Network through other methods？

Using cash to buy 1inch Network is not the only way to obtain 1inch Network. If you have the time to spare, you can get 1inch Network for free.

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Earn free 1inch Network by inviting friends to join Bitget's Assist2Earn promotion.

Receive free 1inch Network airdrops by joining ongoing challenges and promotions.

All crypto airdrops and rewards can be converted to 1inch Network through Bitget Convert, Bitget Swap, or spot trading.

What is 1inch Network used for and how to use 1inch Network?

The use case of 1inch Network may expand as the crypto market and the project itself develop. Currently, you can use 1INCH to achieve the following goals:

Arbitrage by trading 1INCH: Since 1INCH is a frequently traded cryptocurrency, the price of 1INCH is always fluctuating. Earn more 1INCH by buying low and selling high on the exchange. Bitget spot market provides a variety of 1INCH trading pairs to fully meet your needs.

Earn by staking 1INCH: You can also generate income through financial management methods such as staking 1INCH or lending 1INCH. Bitget Earn offers a variety of financial products designed to help you earn more income from your 1INCH.

Send or pay 1INCH: If you want to give 1INCH to your friends, a charity, or a fundraiser, or you want to pay someone with 1INCH, you can quickly and easily send 1INCH to the recipient through their payment address.

You can also go to the official website of the 1inch Network project to learn more about the use cases of 1INCH. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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