1INCH

About 1INCH

1inch is a decentralized exchange aggregator that queries across various decentralized exchanges (DEXs) to identify the optimal trade execution to users. It does not use a single source of liquidity, instead breaking down orders across multiple exchanges to better the pricing and decrease slippage. The protocol is designed with an efficient exchange of tokens in the DeFi, particularly when markets are fragmented among different platforms. It has a native token, 1INCH, that is utilized in governance and can be used to influence protocol parameters (e.g., fees and incentive structures).  Practically, 1inch constitutes a smart routing layer in crypto trading, enabling users to get better rates without having to compare exchanges manually. That makes it one of the more popular instruments that traders desire to have convenience and efficiency in the decentralized markets.