1inch Network คืออะไร

1inch Network คืออะไร

What is 1inch Network?



1inch Network is a DEX (Decentralized Exchange) platform based on Ethereum, Binance Smart Chain, and Polygon network which is unique in its features as a DEX aggregator to find the best prices. It is also open to voting for changes in specific protocol settings as a DAO.



Who is the founder of 1inch Network?



1inch Network was founded in May 2019 by Porsche software engineer, Surjey Kunz and Anton Bukov, a developer who previously worked with NEAR Protocol. As of December 2020, 1inch received $12 million in funding from well-known companies such as Pantera Capital. and ParaFi Capital and 1inch Network launched later that year.



1inch operation



1inch Aggregation Protocol



A special feature that collects DEX from multiple sources to find the best price and lowest fees. Using what is known as “Pathfinder”, each order can be split into smaller chunks across multiple DEX platforms to look for the most cost-effective option.

1inch Liquidity Protocol



The liquidity of 1inch Network, “Mooniswap”, allows users to stake assets for additional returns. Moreover, there is also a “Virtual rates” feature that protects against Front-Running attacks which is the ability to foresee future events that may affect the market, such as insider news or upcoming large trades or swaps to push the price up in the market.



Virtual rates will determine the swap rate based on the exchange rate in the same direction, for example, swapping Token A to Token B, and temporarily setting the rate for 1 - 5 minutes based on the votes within the DAO.

Limit Order Protocol

Optimization of trading orders with smart contracts that use two types of orders: Limit Order and RFQ Order. RFQ (Request For Quote) allows market makers to link liquidity from CEX to DEX users so that it can offer better trading prices and also reduce transaction fees resulting in more liquidity and smooth operation.



1inch DAO



Users interested in becoming a part of the platform's direction can now stake with 1INCH tokens to earn st1INCH, which is a token for participation.



1INCH Token



1INCH is a Governance Token and Utility Token of 1inch network platform. It has a total of 1.5 billion 1INCH tokens. Holders of 1 INCH token can vote for protocol settings on a wide range of subjects, including staking, to participate in the DAO and receive a reward according to the amount of deposited tokens.

Refer to CoinMarketCap, as of August 5, 2022, 1INCH is the 85th largest cryptocurrency with a total market capitalization of approximately 474 million US dollars, or about 16,000 million Baht. The 1INCH coins have a max total supply of 1,500,000,000 1INCH and there are approximately 581,059,517 1INCH in circulating supply.



On top of that, the 1INCH all-time high is at 279.90 Baht and as of the time of writing the price is around 29.59 Baht.



Conclusion



1inch is a DEX platform with a wide range of performance-enhancing features both the prevention of the price difference in the form of Front-Running, fee optimization, and providing users with the best trading offer.



However, every coin has different advantages. Investors should always research for information before investing which allows investors to analyze and manage their risks effectively.





References



Cryptointrend, kraken, gemini, coinmarketcap, 1inch, 1inch-front-running, 1inch-Limit Order, messari

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