What is the 1inch Token?

The 1inch Token is a cryptocurrency associated with the 1inch Network, a collection of decentralized protocols that aim to provide profitable, fast, and secure operations in the DeFi space.

The 1inch Network's first protocol is a decentralized exchange (DEX) aggregator solution that scans deals across multiple liquidity sources to offer users better rates compared to individual exchanges. The 1inch Aggregation Protocol incorporates the Pathfinder algorithm to find the best paths across various liquidity sources on different blockchains, including Ethereum, Binance Smart Chain, Polygon, Avalanche, Optimistic Ethereum, Arbitrum, and Gnosis Chain. Since its inception, the 1inch DEX aggregator has gained a user base of 1 million and achieved a total trading volume of over $120 billion on the Ethereum network alone.

Outstanding Features of the 1inch Token

The Objectives of the 1inch Token Project

The project aims to provide a decentralized exchange experience where users can trade without compromising the security of their funds or personal information.

The Unique Selling Point of the 1inch Token

In addition to accessing deep liquidity from multiple sources across different blockchains, the 1inch Network offers users attractive prices and a high level of security. It is considered the most audited project in the DeFi space.

Security of the 1inch Network

1inch operates on a non-custodial model, ensuring that all trades occur within a single transaction from the user's wallet on any supported blockchain or layer-2 network.

The technical infrastructure of all 1inch protocols is designed to provide a high level of security to users. For instance, insecure liquidity sources can connect to the 1inch Aggregation Protocol without risking the loss of user funds. The protocol includes security checks during every transaction to prevent any potential losses. Currently, the 1inch Network integrates more than 180 liquidity sources, ensuring robust liquidity.

Furthermore, 1inch smart contracts have undergone thorough audits conducted by renowned audit teams in the industry, including OpenZeppelin, Consensys diligence, SlowMist, Haechi Labs, CoinFabrik, Certik, Hacken, Scott Bigelow, MixBytes, and Chainsulting.