Question 1

What is 1inch (1INCH)?

Accepted Answer

1inch (1INCH) is the governance and utility token of the 1inch Network, a decentralised exchange (DEX) aggregator that optimises cryptocurrency trades across multiple DEXs. Launched in December 2020, the 1INCH token is primarily used within the Ethereum and Binance Smart Chain (BSC) networks. The 1inch Network aims to provide users with the best possible trading rates by routing transactions through various liquidity sources.

The token plays a critical role in the network’s decentralised governance, allowing holders to participate in decision-making processes. It serves as a utility token for various functions within the 1inch ecosystem, including staking, liquidity provision, and fee management.

Question 2

What is 1inch (1INCH) used for?

Accepted Answer

The 1INCH token serves several important functions:

1. **Governance**: 1INCH holders can participate in the governance of the 1inch DAO (Decentralised Autonomous Organisation). By staking 1INCH tokens, users gain voting power, enabling them to propose and vote on protocol changes, including fee structures, upgrades, and the allocation of community resources.

2. **Staking and Rewards**: 1INCH can be staked to earn rewards and to participate in liquidity mining programs. Stakers contribute to the security and functionality of the network while earning returns on their holdings.

3. **Utility in Trading**: The 1INCH token is used to support various trading features within the 1inch ecosystem. For instance, it can be used to pay for gas fees in certain transactions or to reduce slippage in trades. The token also supports advanced trading features such as limit orders and the Fusion mode, which optimises transactions by mitigating front-running risks and reducing gas costs.

4. **Fee Management**: Within the 1inch Network, users can leverage 1INCH tokens to reduce transaction costs. On the Binance Smart Chain, where gas fees are generally lower than on Ethereum, 1INCH tokens help further minimise these costs.

Question 3

Who created 1inch (1INCH)?

Accepted Answer

1inch was co-founded by Sergej Kunz and Anton Bukov in 2019 during the ETHGlobal New York hackathon. Sergej Kunz, a software engineer with experience in cybersecurity, and Anton Bukov, a seasoned smart contract developer, brought together their expertise to create the 1inch DEX aggregator. Their initial success at the hackathon led to the rapid development and launch of the 1inch Network.

Since its inception, 1inch has received significant backing from investors, including Binance Labs and Pantera Capital, which have helped fuel its growth and expansion. The 1inch Network has quickly become one of the most prominent platforms in the DeFi space, known for its efficiency and innovative approach to decentralised trading.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	1INCH-USDT 1INCHUSDT	binance	AA	0.09090USDT	-4.92%	2,884,009.401INCH	4,684	0.09560USDT	0.09580USDT
2	1INCH-USDT 1INCH_USDT	whitebit	BB	0.09087USDT	-5.09%	2,496,196.361INCH	5,824	0.09574USDT	0.09585USDT
3	1INCH-USDT 1INCHUSDT	bybit	A	0.09113USDT	-4.65%	907,283.191INCH	2,417	0.09557USDT	0.09574USDT
4	1INCH-USDT 1INCH-USDT	okex	A	0.09105USDT	-4.79%	480,820.751INCH	2,316	0.09563USDT	0.09583USDT
5	1INCH-USDC 1INCH_USDC	whitebit	BB	0.09096USDC	-4.91%	342,474.661INCH	1,282	0.09566USDC	0.09583USDC
6	1INCH-USD 1INCH-USD	coinbase	AA	0.09097USD	-4.60%	314,159.151INCH	291	0.09536USD	0.09564USD
7	1INCH-BTC 1INCH_BTC	whitebit	BB	0.0₅1117BTC	-0.97%	193,051.001INCH	414	0.0₅1128BTC	0.0₅1131BTC
8	1INCH-USDT 1INCH_USDT	gateio	A	0.09106USDT	-4.64%	136,785.001INCH	505	0.09549USDT	0.09579USDT
9	1INCH-EUR 1INCH-EUR	coinbase	AA	0.08108EUR	-4.71%	90,533.141INCH	35	0.08510EUR	0.08510EUR
10	1INCH-USDT 1INCHUSDT_SPBL	bitget	BB	0.09092USDT	-4.94%	97,505.651INCH	500	0.09564USDT	0.09582USDT
11	1INCH-EUR 1INCHEUR	kraken	AA	0.08100EUR	-4.82%	61,379.411INCH	25	0.08510EUR	0.08510EUR
12	1INCH-USDT 1INCH-USDT	kucoin	BB	0.09104USDT	-4.73%	54,667.351INCH	319	0.09556USDT	0.09563USDT
13	1INCH-UAH 1INCH_UAH	whitebit	BB	3.91UAH	-4.31%	48,219.961INCH	310	4.08UAH	4.10UAH
14	1INCH-USD 1INCHUSD	kraken	AA	0.09110USD	-4.41%	36,132.341INCH	60	0.09530USD	0.09570USD
15	1INCH-USDC 1INCHUSDC	binance	AA	0.09070USDC	-4.73%	30,476.701INCH	98	0.09520USDC	0.09560USDC
16	1INCH-GBP 1INCH-GBP	coinbase	AA	0.06801GBP	-5.25%	3,509.341INCH	11	0.07178GBP	0.07178GBP
17	1INCH-USD 1INCH_USD	cryptodotcom	AA	0.09061USD	-5.24%	3,165.501INCH	18	0.09562USD	0.09562USD
18	1INCH-USDC 1INCH-USDC	okex	A	0.09037USDC	-5.54%	2,140.641INCH	27	0.09567USDC	0.09616USDC
19	1INCH-USDT 1INCH_USDT	cryptodotcom	AA	0.09095USDT	-5.04%	1,840.401INCH	15	0.09578USDT	0.09578USDT
20	1INCH-EUR 1INCH-EUR	okex	A	0.08069EUR	-5.48%	809.121INCH	12	0.08538EUR	0.08538EUR
21	1INCH-USDC 1INCHUSDC	cexio	BB	0.09190USDC	-3.23%	295.401INCH	1	0.09496USDC	0.09496USDC
22	1INCH-USD 1INCHUSD	cexio	BB	0.09159USD	-4.63%	291.531INCH	4	0.09603USD	0.09603USD
23	1INCH-EUR 1INCHEUR	cexio	BB	0.08224EUR	-2.46%	236.321INCH	1	0.08431EUR	0.08431EUR
24	1INCH-BTC 1INCHBTC	cexio	BB	0.0₅1120BTC	-0.88%	192.011INCH	1	0.0₅1130BTC	0.0₅1130BTC
25	1INCH-USDT 1INCHUSDT	cexio	BB	0.09245USDT	-2.28%	177.241INCH	1	0.09461USDT	0.09461USDT
26	1INCH-USDT 1inch_usdt	lbank	C	0.09090USDT	-4.92%	7,142,478.491INCH	84,531	0.09560USDT	0.09600USDT
27	1INCH-USDT 1INCH_USDT	p2pb2b	D	0.09090USDT	-4.92%	2,561,884.301INCH	4,459	0.09560USDT	0.09580USDT
28	1INCH-USDT 1INCHUSDT	bitrue	D	0.09090USDT	-4.92%	2,044,165.021INCH	36,819	0.09560USDT	0.09590USDT
29	1INCH-USDT s1INCHUSDT	phemex	C	0.09100USDT	-4.81%	1,683,907.071INCH	5,836	0.09560USDT	0.09600USDT
30	1INCH-KRW KRW-1INCH	upbit	B	122.00KRW	-3.17%	1,530,066.441INCH	399	126.00KRW	128.00KRW
31	1INCH-USDT 1INCHUSDT	toobit	C	0.09100USDT	-4.91%	926,447.601INCH	5,791	0.09570USDT	0.09590USDT
32	1INCH-USDT 1INCH_USDT	bitunix	C	0.09090USDT	-4.92%	776,873.101INCH	6,340	0.09560USDT	0.09570USDT
33	1INCH-USDT 1inch_usdt	xtpub	-	0.09110USDT	-4.81%	637,476.101INCH	1,459	0.09570USDT	0.09580USDT
34	1INCH-USDT 1INCH_USDT	coinw	-	0.09100USDT	-4.91%	626,683.621INCH	1,391	0.09570USDT	0.09580USDT
35	1INCH-USDT 1INCHUSDT	mexc	C	0.09089USDT	-4.98%	614,204.421INCH	3,051	0.09565USDT	0.09579USDT
36	1INCH-USDT 1INCH_USDT	bydfi	-	0.09095USDT	-4.91%	562,054.141INCH	3,016	0.09565USDT	0.09575USDT
37	1INCH-USDT 1INCH-USDT	bingx	D	0.09100USDT	-4.91%	422,806.731INCH	4,976	0.09570USDT	0.09590USDT
38	1INCH-ETH 1INCH_ETH	bilaxy	-	0.0₄4045ETH	17.69%	208,939.101INCH	520	0.0₄3437ETH	0.0₄4078ETH
39	1INCH-USDT 1inch_usdt	digifinex	D	0.09110USDT	-4.61%	101,203.531INCH	983	0.09550USDT	0.09570USDT
40	1INCH-USDT 1inchusdt	huobipro	C	0.09103USDT	-4.44%	99,730.931INCH	168	0.09526USDT	0.09556USDT
41	1INCH-EUR 1INCH-EUR	bitvavo	B	0.08090EUR	-5.31%	86,421.721INCH	46	0.08544EUR	0.08544EUR
42	1INCH-EUR 1INCHEUR	bit2me	B	0.08100EUR	-4.82%	61,379.411INCH	25	0.08510EUR	0.08510EUR
43	1INCH-KRW 1INCH_KRW	bithumbkorea	-	123.00KRW	-2.38%	27,936.721INCH	40	126.00KRW	127.00KRW
44	1INCH-KRW 1INCH-KRW	gopax	D	108.00KRW	0.00%	01INCH	0	108.00KRW	108.00KRW
45	1INCH-THB THB_1INCH	bitkub	C	3.07THB	-3.74%	5,787.651INCH	7	3.18THB	3.18THB
46	1INCH-USDC 1INCH-USDC	coinjar	B	0.1046USDC	0.00%	01INCH	0	0.1046USDC	0.1046USDC
47	1INCH-USD 1INCH-USD	coinjar	B	0.1101USD	0.00%	01INCH	0	0.1101USD	0.1101USD
48	1INCH-USDT 1INCHUSDT	latoken	D	0.09565USDT	0.03%	01INCH	0	0.09563USDT	0.09563USDT
49	1INCH-IDR 1inchidr	indodax	E	1,638.00IDR	-2.79%	1,049.961INCH	18	1,685.00IDR	1,779.00IDR
50	1INCH-GBP 1INCH-GBP	coinjar	B	0.07122GBP	0.00%	01INCH	0	0.07122GBP	0.07122GBP