Buy 1inch

1inch is a DEX aggregator and DeFi trading platform that allows traders to trade cryptocurrencies at the best prices on decentralized exchanges (DEXs). 1inch’s goal is to simplify and optimize the process of finding favorable trading prices for users.

The platform works by scanning different DEXs and analyzing the available liquidity and prices. This data is then combined to determine the most advantageous trading routes. This allows traders to execute transactions at the best prices, saving them money and reducing the risk of unfavorable price deviations.

The problem that 1inch addresses is the fragmented liquidity on DEXs. Previously, traders had to manually search multiple DEXs to find the best prices, which was time-consuming and inefficient. Furthermore, they ran the risk of ‘slippage’, where the final transaction price deviates from the expected price due to volatility and limited liquidity on a single platform.

By solving this problem, 1inch makes trading on DEXs easier, more efficient, and more beneficial for traders of all levels. With its advanced algorithms, such as Fusion and Pathfinder, and user-friendly interface, 1inch offers a powerful solution for optimizing DeFi trading activities.

The 1INCH token acts as a governance token for the 1inch ecosystem. Holders of 1INCH have voting rights in decisions regarding the platform and can participate in the governance of 1inch.

Who founded 1inch?

Sergej Kunz and Anton Bukov are the founders of 1inch. Kunz is an experienced software developer from Germany and Bukov is a smart contract developer. They jointly launched 1inch at the ETHGlobal New York hackathon in May 2019. The project is currently managed by 1inch Limited, a company founded with Kunz as CEO and Bukov as CTO. The team behind 1inch consists of experienced developers and blockchain experts.

With 1inch you can perform several actions:

• Find the best trading routes: Users can find the most efficient trading routes across different decentralized exchanges using 1inch, allowing them to execute trades at the best prices and experience minimal slippage.
• Execute trades: On the 1inch trading platform, users can execute various trades such as spot trades, limit orders and more.
• Provide Liquidity: Users can provide liquidity to 1inch's liquidity pools and generate passive income by earning transaction fees.
• Minimize transaction costs: Technologies like Fusion and the Dutch auction model allow users to save money on transaction costs and achieve higher returns on their investment.

The 1inch platform is designed to be user-friendly for both novice and experienced traders. Users can simply select the cryptocurrencies they want to trade and the platform will automatically find the best rates and execute the trade. 1inch sources from various platforms including Uniswap, SushiSwap, 0x, Kyber Network and Balancer.

Pathfinder

The Pathfinder algorithm is at the heart of the 1inch platform. It analyzes decentralized exchanges and finds the best trading routes based on liquidity. These routes can include exchanges on multiple blockchains, such as Ethereum, Binance Smart Chain, and Polygon.

Pathfinder allows users to benefit from better prices for their trades and minimizes the risk of slippage, meaning the final price will not deviate from the expected price.

Fusion

An important aspect of 1inch is Fusion, a system that minimizes gas fees and prevents front-running. Front-running is a practice where trades are executed based on inside information, which can lead to unfair trading practices.

Fusion uses a Dutch auction model to execute transactions. In this model, the sale starts at a high price and gradually decreases until a buyer is willing to purchase at that price. This ensures that transactions are executed at optimal rates and also minimizes the risk of front-running.

The resolvers act as market makers in Fusion. They combine orders and complete transactions at set rates, ensuring an efficient and fair trading environment for all users.

The 1INCH token has several functions within the 1inch ecosystem. It acts as a governance token, giving holders voting rights on important decisions about the platform. This includes adding new features and changing the protocol. In addition, 1INCH tokens can be used to pay and minimize transaction fees.

1INCH also serves as a utility token, allowing users to earn transaction fees by providing liquidity to 1inch Network pools. This liquidity is used for trading on the 1inch platform. The maximum supply of 1INCH is set at 1.5 billion tokens.

1inch distinguishes itself through several unique features:

• Innovative DEX aggregator: The Pathfinder algorithm calculates efficient trading routes across different decentralized exchanges and blockchains, making 1inch an advanced DEX aggregator.
• User-friendly interface: The platform is designed with simplicity and accessibility in mind, so that both beginners and experienced traders can easily navigate and benefit from its functionalities.
• Optimized transaction fees: By using technologies such as Fusion and the Dutch auction model, transactions are executed at optimal rates, helping users save money.
• Community-driven governance: The 1inch ecosystem is governed by a community of users who are actively involved in the decision-making process and stake 1INCH tokens to gain voting rights.
• Constant Innovation: 1inch continues to innovate and introduce new features to meet user needs and improve user experience.

You can buy 1inch (1INCH) at Bitvavo. Our platform is suitable for both novice and experienced traders. Here's how to purchase 1INCH:

1. Register or log in to your Bitvavo account.
2. Make a deposit by clicking "Deposit".
3. Visit the 1inch purchase page.
4. Choose the amount in euros you wish to invest or the number of 1INCH tokens you want to purchase and confirm with "Buy".

The price of 1INCH tokens depends on the current market value. After purchase, your 1INCH tokens will be automatically added to your Bitvavo account, where you can easily manage and sell them, allowing you to quickly respond to market changes.

1INCH tokens can be stored safely in your Bitvavo account, where the majority of funds are protected in offline cold wallets. We recommend activating two-factor authentication (2FA) for additional account security.

For those who prefer to store their 1INCH tokens in a personal wallet, 1inch is supported by most software and hardware wallets. You can buy 1inch and transfer it to your own wallet by simply linking the wallet address to your Bitvavo account, giving you full control over your tokens.