1INCH- Introduction Details
1INCH is a functional token issued by the 1inch trading platform. The purpose of issuing tokens 1INCH on the platform is to ensure that the agreement integration on the aggregator maintains a permissionless state, protects the development ecosystem, and rewards funds for governance. It will also be used Staking for network security. 1inch emphasized that 1INCH is not an investment, but a tool that can help the platform build a decentralized, permissionless network.
1inch emphasized that 1INCH tokens will not be sold to users, but as a reward for using 1inch, and stated that the token system will be a virtuous circle, and users can benefit from it.
1inch consists of the 1inch.exchange DEX aggregator and the 1inch liquidity protocol (previously called Mooniswap).
1inch.exchange DEX aggregator: It uses advanced algorithms to find the most effective exchange path by searching more than 33 liquidity agreements (as of December 25, 2020), so that traders can obtain the most effective transaction prices.
1inch Liquidity Agreement: An automatic market maker (AMM), which uses a new mechanism called "delayed price update" to protect exchangers from preemptive transactions, increase liquidity provider (LP) revenue and reduce Arbitrageur's profit.
1INCH token is the native ERC-20 token of the 1inch protocol. It is a governance and functional token that will be used to govern all protocols developed by 1inch (starting from 1inch.exchange and 1inch liquidity).
1inch introduced a new governance framework called Instant Governance, in which 1INCH token holders and key stakeholders of the protocol (such as LP) can directly vote on the protocol parameters.
One of the key functions of Instant Governance is that token mortgagers or LPs can continuously and dynamically vote to change protocol settings without waiting for the proposal to be submitted or ended.
Full name: 1inch Token
Abbreviated full name: 1INCH
Total amount: 1,500,000,000
1INCH/USDT transaction: https://www.gx.com/trade/1INCH USDT
Official website: https://1inch.exchange/
Block explorer: https://cn.etherscan.com/token/0x111111111117dc0aa78b770fa6a738034120c302
Smart contract: 0x111111111117dc0aa78b770fa6a738034120c302