1inch - what is crypto 1inch | 1inch price today, marketcap and chart

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What is 1inch (1INCH)?

1inch is a decentralized exchange (DEX) aggregator which looks into the cryptocurrency market with the intention of finding the best rates at the lowest fees for all of your trades. Instead of being an exchange by itself, it splits orders between many other DEXs and private liquidity providers in order to find the best possible exchange rates. 1inch offers over 50 liquidity sources on Ethereum 20 on the Binance Smart Chain and 8 on Polygon.

Who are the founders of 1inch (1INCH)?

1inch was founded by two people, Anton Bukov and Sergej Kunz in 2019. It was actually created during the “ETHNewYork: Build the Decentralized Future” hackathon, and ever since, it has raised over $15 million in funding from companies such as Pantera Capital, Binance Labs, and Galaxy Digital. The exchange itself trades around $250 million on a daily basis. Sergej Kunz specifically entered the cryptocurrency world back in 2012, and after mining Ethereum for years, he launched his YouTube channels and did security audits of smart contracts before creating 1inch. Anton Bukov on the other hand has been involved in software development since 2002.

What makes 1inch (1INCH) unique?

1inch is unique in the way that it has a unique algorithm that finds the cheapest way for you to place a trade through the usage of different exchanges as well as liquidity protocols responsible for facilitating the trade in question. The 1INCH token is a native governance token, which means that users can use it to vote on the way that the 1inch platform can be ran going forward. Additionally, 1inch is non-custodial and all of the trades take place within one transaction from a user's Ethereum-based wallet.