What is 1INCH Token (1INCH)?
1inch Network (1INCH), introduced in August 2020, is a decentralized exchange (DEX) aggregator, designed to optimize cryptocurrency trading operations by pooling liquidity from various DEXs. It allows users to find the most efficient trading routes across multiple platforms, minimizing slippage and ensuring the best possible trade execution.
The 1INCH token, native to its ecosystem, is used for governance and utility purposes, enabling token holders to participate in the development of the network. 1inch’s aggregation protocol is a significant innovation in the DeFi space, enhancing liquidity and trading efficiency. The platform has become a vital tool for traders and liquidity providers, optimizing interactions with the growing landscape of decentralized finance.