The current price of 1inch is $0.38470. Since 00:00 UTC, 1inch has decreased by -8.71%. It currently has a circulating supply of 1,396,888,843 1INCH and a maximum supply of 1,500,000,000 1INCH, giving it a fully diluted market cap of $538.36M. At present, the 1inch coin holds the 101 position in market cap rankings. The 1inch/USD price is updated in real-time.
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The growth of cryptocurrencies opened up avenues for both centralized and decentralized exchanges. The latter dispels the need for an authority figure. Decentralized exchanges (DEX) only require users to connect to the blockchain to begin trading. 1inch (1INCH) is one such exchange.
What is 1inch
1inch is a decentralized exchange that aims to provide users with the best prices for cryptocurrency trades across multiple blockchains. By aggregating liquidity from various sources, the DEX efficiently splits trades across different exchanges to secure the most favorable prices for users. To do so, 1inch scans various DEXs to identify the best available prices and seamlessly reroutes users' trades to maximize their trading outcomes.
1inch team
1inch was co-founded by Sergej Kunz and Anton Bukov. The team at 1inch includes experts in technology, blockchain, marketing, and sales, among others, who contribute to the development and operations of the platform.
1inch has also received backing from notable investors and venture capital firms, including Binance Labs, Pantera Capital, and other prominent VCs.
How does 1inch work
1inch operates as a decentralized exchange aggregator that constantly monitors other DEXs to find the most competitive cryptocurrency rates for users. By utilizing smart contracts, 1inch efficiently routes customers' trades to the identified DEXs offering the best prices. This approach of searching through various exchanges helps to deepen liquidity and provide users with access to the most favorable prices available in the market.
To further deepen liquidity, 1inch offers users the opportunity to participate in liquidity mining. In return for providing liquidity to the platform, users can earn rewards in the form of additional tokens.
1inch's native token: 1INCH
1inch’s native token, 1INCH, powers the liquidity aggregator, liquidity protocol, and DAO. Beyond being an ERC-20 token, 1INCH serves as a governance token. 1INCH token holders are granted voting rights and can actively participate in shaping the future of the protocol. To do so, they can vote in favor of or against proposed changes and new parameters for the protocol.
1INCH tokenomics
There is a total supply of 1.5 billion 1INCH tokens and a circulating supply of over 413 million tokens. In addition to voting rights, 1INCH holders can earn rewards in the form of airdrops by holding the token.
How to stake 1INCH
1INCH holders can earn rewards when they commit a percentage of their holdings to the protocol. Staking on the 1inch protocol is straightforward. First, launch the 1inch dApp. Hover over the “DAO” tab and click “Staking” from the dropdown menu. Then, enter the amount of 1INCH you would like to stake, set the locking period, and click Give permission to stake. Sign the transaction in your connected wallet to finalize the process. Once completed, you will receive Unicorn Power that you can delegate to resolvers to start receiving rewards.
1INCH use cases
1INCH is more than a utility token; it plays a crucial role in the governance of the protocol, enabling token holders to vote on proposals put forward by the community. Additionally, 1INCH powers the liquidity mining process through staking. By staking their 1INCH tokens, users can contribute to the liquidity of the protocol and earn rewards in return.
Distribution of 1INCH
1INCH is distributed as follows:
30 percent is reserved for community incentives.
22.5 percent is designated for core contributors.
18.5 percent is allocated to the first set of backers.
14.5 percent is reserved for the network growth fund.
12.2 percent is allocated to the second set of backers.
2.3 percent is allocated to small-scale backers.
What does the future hold for 1inch
Touted as the leading DEX aggregator, 1inch provides a liquidity pool, token farming capabilities, and a truly decentralized governance model. These features set the DEX aggregator apart from others. With a dedicated team focused on integrating advanced software and tools to ensure optimal prices, 1inch is poised to maintain its relevance as a leading DEX aggregator.
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Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 963 new posts about 1inch, driven by 233 contributors, and total online engagement reached 363K social interactions. The sentiment score for 1inch currently stands at 92%. Compared to all cryptocurrencies, post volume for 1inch currently ranks at 0. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of 1inch.
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Posts
963
Contributors
233
Interactions
363,178
Sentiment
92%
Volume rank
#0
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Posts
840
Interactions
122,202
Sentiment
85%
1INCH FAQ
What is 1inch?
1inch is a decentralized exchange that scans for the best prices across multiple exchanges, providing users with the lowest trading prices.
What are the utility and benefits of holding 1INCH?
The benefits of holding 1INCH include voting rights, participation in the protocol's governance ecosystem, and staking opportunities for earning returns.
What is the 1INCH price prediction?
While it’s challenging to predict the exact future price of 1INCH, you can combine various methods like technical analysis, market trends, and historical data to make informed decisions.
How much is 1inch worth today?
Currently, one 1inch is worth $0.38470. For answers and insight into 1inch's price action, you're in the right place. Explore the latest 1inch charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as 1inch, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as 1inch have been created as well.
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