What is 1inch?
DEX (decentralized exchange) aggregator 1inch joins different DEXes into one board, thus allowing its customers to choose the most suitable purchase option for them. 1inch was founded in May 2019 by Russian computer programmers Sergej Kunz and Anton Bukov. It was launched in August 2020 after a $2.8 M funding boosted from Binance Labs, Galaxy Digital, FTX, and others. Afterwards, it collected $12 M in fundraiser managed by Pantera Capital. 1inch runs its governance token called 1INCH released in December 2020. The unit allows voting on the way the platform is functioning. 1INCH tokens can be purchased on multiple markets, among them Binance, Huobi Global, Uniswap, and more. The most common way to get 1INCH assets is by adding liquidity to the platform. The DEX aggregator also has its automated market maker (AMM) named Mooniswap. When an exchange takes place, a market maker does not automatically apply the constant algorithm and shows the new rates for future traders. The AMM improves exchange prices for arbitrage swappers gradually, over about 5 minutes.