Established in 2019, the 1inch Exchange is a DEX and a DeFi aggregator comprised of three protocols – Aggregation Protocol, Limit Order Protocol, and Liquidity Protocol. It provides users with trading possibilities as well as various means of passive income generation.
As it is a decentralized exchange, users don't need to undergo a KYC verification process. Besides, 1inch crypto exchange can be accessed via both – desktop and mobile devices.
Markets
Supporting many fiat currencies and cryptocurrencies in a wide range of 1inch Exchange trading pairs, traders can use the 1inch crypto exchange to trade in different markets. However, there's no such thing as a 1inch Exchange spot market per se. Instead, traders can either swap, use limit orders, or participate in peer-to-peer trading.
For swappers, the Aggregation Protocol takes liquidity from multiple DEXs to ensure that traders get the best swapping rates. For those who want to use limit orders, there is the Limit Order Protocol, which is a set of EVM-based smart contracts that provide users with two types of orders – Limit Orders and RFQ Orders.
Besides that, there is the 1inch Fusion Mode, which allows users to make feeless swaps without the risk of being front-run on various DEXs.
One of the platform's most recent ventures is the 1inch Exchange token (1INCH). It may be used as a utility token as well as a governance token. Check out the live 1inch Exchange crypto price here. Another token of the 1inch Exchange is the CHI Gas token (CHI). It can be used to cover gas fees.
In terms of 1inch exchange fees, there are no deposit fees, withdrawal fees, or exchange fees. Users just pay a modest fee to the different decentralized exchanges that distribute the tokens. Depending on the Gas prices at the time of the transaction, the exchanges get paid a certain amount. Besides, traders can lower transaction fees by using CHI tokens.
Other Services
Apart from token trading, the 1inch Exchange offers various other services. Liquidity Protocol is one of these services. It provides users with an AMM that offers liquidity pools. Liquidity providers can generate passive income by providing liquidity to these pools.
Liquidity providers can also earn from the 1inch Earn feature. It is a product that is based on derivatives and it provides liquidity providers with the chance to generate a decent APY.
Also, the exchange provides users with the 1inch DeFi Wallet. It allows users to buy, store, transfer, swap, and stake tokens. Talking about wallets, for MetaMask users, the platform offers the 1inch RabbitHole feature, which safeguards their wallets from sandwich attacks.
Besides, for those who want to access non-custodial asset swaps, the exchange offers 1inch API, which is a routing algorithm. It generates the best rates from popular DeFi ecosystems.
Lastly, there's the 1inch grant program, which is a program that encourages the expansion of the 1inch Network and rewards contributions with grants and other resources.
About the Company
Sergey Kunz and Anton Bukov founded the 1inch cryptocurrency exchange in 2019. Since the 1inch cryptocurrency is a non-custodial DEX aggregator, traders can use the platform with more control over their deposits, better transparency, and a high level of security.
The 1inch cryptocurrency exchange team also released Mooniswap in 2020, as a new automated market maker (AMM). This AMM keeps balances for various swap movements and thereby keeps the majority of slippage in the pool. When a swap is conducted, the algorithm is not instantly engaged, and the new prices for subsequent trades are temporarily delayed. The AMM takes around 5 minutes to gradually enhance exchange rates for arbitrage traders.
Sergey Kunz has years of experience as a software engineering specialist. He worked in such companies as Porshe, Mimacom, Mobex, herzog kommunikation, and so on. In addition to that, since 2014 he has been the CEO of Bulktrade.
Anton Bukov is a developer and an engineer. He worked as a senior iOS and Mac UI developer on such projects as Actor Messaging, Acronis, and Machine Learning Works. In addition to that, he worked as a blockchain developer and consensus researcher on such projects as BitCalve and MultiToken. Besides that, he was also worked with the NEAR Protocol as a senior smart contract engineer.
