1inch is a decentralized exchange (DEX) aggregator and liquidity protocol that provides users with access to the best rates and liquidity across a variety of decentralized exchanges. It was founded in 2019 by Sergej Kunz and Anton Bukov and is based in Switzerland.
1inch is built on the Ethereum blockchain and operates as a decentralized autonomous organization (DAO). The platform is designed to provide users with a seamless and cost-effective way to swap tokens across multiple DEXs. By aggregating liquidity from a variety of exchanges, 1inch is able to provide users with the best possible rates for their trades.
In addition to its DEX aggregation services, 1inch also offers a liquidity protocol that allows liquidity providers to earn rewards for providing liquidity to the platform. This protocol uses an automated market maker (AMM) algorithm to ensure that the price of tokens remains stable even as demand fluctuates.
1inch has a strong focus on user experience, with a simple and intuitive interface that allows users to easily navigate the platform and make trades. The platform also offers a range of advanced features, including limit orders, gas optimizations, and more.
1inch has gained widespread popularity in the decentralized finance (DeFi) space, with a growing user base and strong support from the crypto community. The platform has also formed partnerships with a number of other projects in the DeFi ecosystem, including Chainlink, MakerDAO, and Compound.
Overall, 1inch represents a major innovation in the world of decentralized finance, providing users with a seamless and cost-effective way to trade tokens across multiple DEXs. Its innovative liquidity protocol and focus on user experience have helped the platform gain widespread popularity and establish itself as a leading player in the DeFi space.