The most prominent feature of 1inch is the Pathfinder. When the user places an order, this feature will automatically search for the prices from various DEX such as: Uniswap, Curve, Balancer and more, and compare them in order to make sure that the user will get the best price possible.
In addition, 1inch also integrates Chainlink, a data oracle, to feed the price information into the platform, allowing the most accurate prices for the users.
1inch also support bridges to connect with other network, such as BNB Chain, Polygon, Optimism, Avalanche, Fantom, and more. Making 1inch one of the most flexible platform in DeFi community.
Users are also able to deposit other tokens or cryptocurrencies to support the liquidity of the platform. The users using this method will be rewarded with 1INCH tokens.
1inch was launched in August 2020. The platform was able to raise $2.8 million from Binance Labs, Galaxy Digital, Greenfield One, Libertus Capital, Dragonfly Capital, FTX, IOSG, LAUNCHub Ventures and Divergence Ventures.
Furthermore, in December 2020, 1inch was able to do another round of fund-raising. During that time, it was able to raise $12 million from Pantera Capital, ParaFi Capital, Blockchain Capital, Nima Capital and Spartan Group.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article