1inch (1INCH) Price
1INCH
$0.439931
Market cap
509,909,596.0
Total volume
26,010,505
Circulating supply
1,157,714,996
Total supply
1,500,000,000
At its core, 1inch Network serves as a decentralized exchange (DEX) aggregator, crafted to assist users in finding the most favorable trading prices for tokens. Rather than executing token swaps via a single DEX's liquidity pool, 1inch scours various pools to pinpoint the most cost-effective trading route.
Benefits of Using 1inch
For traders moving significant volumes of tokens, it can be a challenge to stay informed about the available liquidity across various DEXs to secure the optimum price quote. DEX price quotes are subject to change based on the liquidity pool's status at any given moment. Plus, when dealing with large transactions, even a slight percent in savings can significantly impact, thanks to an ideal trading path. 1inch addresses these issues with a user-centric interface designed for efficiency.
Introducing Pathfinder
Pathfinder stands out as the sophisticated discovery and routing algorithm devised by the 1inch team. This powerhouse algorithm underpins the system, ensuring the most economical swap routes are identified. For instance, should a user desire to trade ETH for WBTC, Pathfinder canvasses all available DEXs — including Uniswap, Curve, Balancer, DODO, Sushiswap, and beyond. The outcome? A meticulously curated route that leverages the best possible fees and liquidity, guaranteeing users receive the most attractive rate without the need to compare prices across different platforms manually.
The Masterminds Behind 1inch
The inception of 1inch was the brainchild of Sergej Kunz and Anton Bukov. This revolutionary concept sprang to life during a hackathon, where it was developed in just over 60 hours in New York City. Today, it stands as a rapidly expanding DeFi product, testament to the visionary founders' innovative thinking."
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