Advantages of 1INCH

Modified on Tue, 3 Sep at 11:56 AM

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 DEXs, such as Uniswap, Curve, Balancer, and more, and compare them to make sure the user will get the best price available.

 

In addition, 1Inch also integrates Chainlink, a data oracle, to feed the price information into the platform, allowing the most accurate prices for users.

 

1Inch also supports bridges to connect with other networks, such as BNB Chain, Polygon, Optimism, Avalanche, Fantom, and more. Making 1Inch one of the most flexible platforms in the 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 fundraising. 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

Let us know how can we improve this article!

Select at least one of the reasons
CAPTCHA verification is required.

Feedback sent

We appreciate your effort and will try to fix the article