What kind of currency is 1INCH coin? Introduction to the official website, circulation and trading platform of 1INCH coins

1INCH's interoperability with multiple DEXes collates liquidity, providing users with optimized exchange rates, minimized slippage, and seamless trading experiences.

Oct 28, 2024 at 04:43 pm

1INCH Coin: An Overview

1. Definition

1INCH is a decentralized exchange (DEX) aggregator token that enables users to find the best exchange rates for cryptocurrency trades across multiple DEXes.

2. Official Website

The official website of 1INCH is https://1inch.exchange. It provides information about the project, tokenomics, and trading platform.

3. Circulation

As of February 12, 2023, the circulating supply of 1INCH is approximately 576 million tokens, with a total supply of 1 billion tokens.

4. Trading Platforms

1INCH is listed on numerous cryptocurrency exchanges, including:

OKX
Binance
Coinbase
Huobi
FTX (not included due to bankruptcy)
Bybit
Kraken

5. Functionality

1INCH acts as a liquidity aggregator, collating liquidity from liquidity pools across various DEXes. By doing so, it provides users with:

Best Exchange Rates: It searches for the most favorable exchange rates by comparing prices from multiple DEXes.
Optimal Trade Execution: It routes trades through the DEXes with the lowest gas fees and highest liquidity.
Slippage Protection: It minimizes the risk of slippage by splitting trades across multiple DEXes.

6. Tokenomics

Ticker: 1INCH
Blockchain: Ethereum
Decimals: 18
Max Supply: 1 billion 1INCH
Allocation: 25% team, 25% community, 50% ecosystem

7. Token Use Cases

1INCH tokens have the following use cases:

Governance: Holders can vote on proposals related to the 1INCH protocol.
Staking: Tokens can be staked to earn rewards and additional governance power.
Fee Discounts: 1INCH token holders may receive discounts on trading fees within the 1INCH platform.

8. Benefits of Using 1INCH

The benefits of using 1INCH include:

Access to the best exchange rates across multiple DEXes
Reduced slippage and gas fees
Simplified trading experience
Passive income opportunities through staking

Conclusion

1INCH is a popular DEX aggregator token that provides users with a range of benefits. Its functionality as a liquidity aggregator allows traders to find the best exchange rates and execute trades efficiently. The coin's tokenomics and use cases make it an attractive option for those looking to engage in the decentralized finance (DeFi) ecosystem.

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