What is 1inch

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1inch is a vaultless DEX aggregator where all transactions are executed in a single transaction from the wallet. Ethereum user.

Offering users the cheapest transactions, minimal acceleration and access to a wide range of ERC-20 tokens. According to CoinGecko, the exchange supports 283 coins and 296 trading pairs.

Ecosystem

Popular DEX integrated into the 1inch protocol include Oasis, Kyber Network, Disconnect, Mooniswap, Balancer, etc. etc. This means that users can switch between almost any ERC-20 token.

1INCH’s own marker is both a control marker and a unity marker

The platform has its own Gastoken “Chi” to help users. Especially experienced traders and arbitrageurs reduce the cost of gas transactions.

The 1inch team also introduced Mooniswap, a next generation automated market maker (AMM) with a virtual balance. Allows the liquidity provider to make profits that arbitrageurs earn.

Problems 1 inch solved

DEX is becoming increasingly popular among users with various advantages over its centralized counterparts. These include self-regulation, increased security, list autonomy, and coin variety.

Some of the major drawbacks are the thin order book form with low liquidity, which leads to large slips and costly cancellations.

Once each order is sent to the blockchain, anyone can see the transaction before it is received. This visibility makes any transaction vulnerable to blockchain because leaders can pay higher gas prices to incentivize the mine network to make the first transaction.

How does 1 inch solve the problem?

On the 1inch exchange, users can exchange as well as set limit orders for many types of tokens.

Trades larger than 1inch can be split between exchanges to minimize slippage and provide the best possible price for the desired transaction. Mooniswap, Oasis, Kyber Network, Uniswap, 0x Relays and others are integrated into the 1inch protocol.

The prices and liquidity available from each platform are clearly visible to the user, as well as the gas fee. This saves users time and clicks. Avoid having to open multiple exchanges and evaluate orders.

Fee per 1 inch of exchange

1 inch with no withdrawal fee. The only fee is the network fee charged by the exchange that the user routes through V, for example: 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 receive any benefit from this fee. However, users have the ability to save gas by using a 1-inch Chi GasToken.

What is a 1INCH token?

On December 26, 12, the Independent Board of the 2020inch Foundation launched the 1INCH token. Free tokens are being given away to the community to celebrate the launch of the 1INCH token.

1INCH is a management and unity token. As a management token, 1INCH will be used to manage network protocols, allowing it to be managed in a decentralized autonomous organization (DAO) model.

Basic information

  • Ticker 1INCH
  • Blockchain Ethereum
  • Token standard Management, unity
  • ERC-20 token type
  • Total offer 1,500,000,000 1 XNUMX XNUMX XNUMX XNUMX XNUMX DUMX
  • Circulation Support 77.084.211 1 XNUMX XNUMX XNUMX XNUMX XNUMX XNUMX DUYM

Highlight 1 INCH

The total number of INCH tokens is 1,500,000,000 XNUMX XNUMX XNUMX XNUMX XNUMX with this distribution:

  • Main sponsors and participants: 53.3%
  • Community incentives: 30%
  • Protocol growth and development: 14.4%
  • Advisors: 2.3%

Release Schedule

On December 26, 12 (the launch date), 2020% of the total will be issued. Other tokens will continue to be issued from time to time in this manner:

  • 30% was allocated to community incentives, which will be unlocked and distributed over 4 years.
  • 5% will go to the growth and development of the protocol, which will also be unlocked for 4 years.

1 inch token sale

1inch attracted nearly $14.8 million from private investors, representing about 30.8 percent of the total 1INCH token supply between August and December ‘8.

Which exchange sells token 1INCH?

The easiest way to register and buy 1INCH coin on the two exchanges Binance and Huobi:

  • Register a Binance account: https://blogtienao.com/go/binance
  • Register a Huobi account: https://blogtienao.com/go/houbi

In which wallet is 1INCH stored?

This is an ERC-20 token, so it’s pretty easy to find a suitable wallet, such as: Trustwallet, Book Nano X, MyEtherWallet, MetaMask… Or you can save it directly to the exchange where you purchased this token. Don’t forget to enable full security.

Potential score of 1 inch

Products

Transaction volume 1 inch reached $8.4 billion. Impressive figure, isn’t it?

Since Mooniswap is a new AMM protocol released in August 8. The team ran several simulations of Mooniswap performance based on real data and compared the results with Uniswap V2020.

Below you can find charts showing volume, cumulative promotion, Uniswap V2 record profits, and Mooniswap record profit projections.

Mooniswap is expected to average 50 to 200% more profit for LPs than Uniswap V2, due to the diversion of profits from the miss.

The Future

The benefits far outweigh the limitations as it tries to solve some serious problems that are hindering the growth of the DeFi ecosystem.

The platform is definitely aimed at more experienced traders, especially those who trade major cryptocurrencies and through multiple DEXs. As the user experience improves over time, 1inch could become one of the most important trading platforms for the rapidly expanding DEX ecosystem.

Is 1inch Exchange safe?

1inch Exchange is a non-storage DEX aggregator. This is unlike some centralized exchanges where your cryptocurrency is stored in a wallet for trading.

It is also important to note that to date, there are no records of any break-ins or security breaches.

Is it worth using the 1inch Exchange?

You may want to consider some of the following pros and cons. The 1-inch Exchange has the following advantages:

  • The Exchange interface is intuitive.
  • There are no withdrawal fees, except for network fees.
  • Solve the liquidity problem by separating the order books on the exchanges, but keeping the transaction in one transaction.
  • Spending GasTokens helps users, especially day traders and arbitrageurs, reduce the cost of gas for their transactions.

The new AMM – Mooniswap takes advantage of user promotion and protects traders from advanced attacks.

However, there are also disadvantages, such as:

  • It is quite difficult to use many of the features that Exchange has to offer.
  • The infinity unlock feature can act as a potential attack point for hackers. Although it costs a bit more to unlock transactions one at a time, it is more secure because users are not always bound to the protocol if it is compromised.

Should we all invest in 1INCH tokens?

I hope my easy-to-understand reviews help you see the 1″ well. Please think carefully before investing.