Sell 1INCH (1INCH) for AUD

What is 1inch (1INCH)?

In order to give users the best pricing for their trades, 1inch (1INCH), a decentralised exchange aggregator, draws liquidity from several decentralised exchanges (DEXs) and protocols. It is constructed on the Ethereum blockchain and was released in 2019.

The History of 1inch

The founders of 1inch, Sergej Kunz and Anton Bukov, created the company in 2019 with the goal of giving people a more effective way to trade on decentralised exchanges. The team felt that by combining liquidity from several sources, it would be possible to address the high costs and slippage rates that consumers encounter while trading on DEXs. 1inch introduced its governance token, 1INCH, in December 2020, allowing users to take part in the protocol's decision-making.

The Use Case of 1inch

By combining liquidity from many sources to give consumers the best rates for their transactions, 1inch seeks to address the issue of liquidity fragmentation in the decentralised exchange ecosystem. This is accomplished by dividing trades among several DEXs in order to minimise slippage and lower fees, which is beneficial for large trades in particular. A user-friendly interface and sophisticated features like limit orders are also provided by 1inch, enabling customers to benefit from a greater variety of trading techniques.