What is 1inch cryptocurrency?

If you are a DEX trader or a crypto enthusiast, you may have come across the term "1inch" in your daily readings. But what exactly is it and how does it work? In this blog post, we will explore 1inch cryptocurrency and everything you need to know about it. So, sit back, relax, and let's dive into the world of 1inch.


1inch is a decentralized exchange (DEX) aggregator that helps users find the best prices for crypto trades across multiple DEXs. It was founded in August 2020 by Sergej Kunz and Anton Bukov. The platform allows users to make trades by splitting the order across different DEXs in order to get the best possible price and save on gas fees. Simply put, instead of having to access multiple DEXs to make a single trade, 1inch does the work for you.

One of the most unique features of 1inch is its "Chi Gastoken" that reduces gas fees for Ethereum transactions. The Chi Gastoken is a smart contract that holds gas for future transactions and allows users to pay lower fees on the network. By using Chi Gastoken, 1inch users can save up to 40% on gas fees, which is a significant cost reduction in the world of crypto.

Another important aspect that sets 1inch apart from other DEX aggregators is its liquidity protocol. Liquidity providers on 1inch can move their assets across multiple DEXs without losing their positions. This means that if a liquidity provider has funds on Uniswap and wants to move them to Sushiswap, they can do so without incurring any losses. This feature enables more liquidity for traders and allows for better price discovery.

1inch cryptocurrency has its own native token called 1INCH. The 1INCH token is used for governance, staking, liquidity mining, and fee discounts on the platform. Users can stake their 1INCH tokens to earn more tokens and participate in governance decisions. Additionally, they can provide liquidity to 1inch's liquidity protocols and earn a share of the fees generated on the platform.


In conclusion, 1inch cryptocurrency is a powerful DEX aggregator that allows users to get the best prices on their crypto trades while reducing gas fees. Its unique features such as the Chi Gastoken and liquidity protocol provide added benefits to liquidity providers and traders alike. The 1INCH token is an essential part of the platform, providing users with governance and staking opportunities, as well as fee discounts. As the crypto world continues to evolve, 1inch cryptocurrency remains a top player in the DEX space, providing innovative solutions for traders and liquidity providers.