Question 1

What is 1inch (1INCH)?

Accepted Answer

1inch (1INCH) is the governance and utility token of the 1inch Network, a decentralised exchange (DEX) aggregator that optimises cryptocurrency trades across multiple DEXs. Launched in December 2020, the 1INCH token is primarily used within the Ethereum and Binance Smart Chain (BSC) networks. The 1inch Network aims to provide users with the best possible trading rates by routing transactions through various liquidity sources.

The token plays a critical role in the network’s decentralised governance, allowing holders to participate in decision-making processes. It serves as a utility token for various functions within the 1inch ecosystem, including staking, liquidity provision, and fee management.

Question 2

What is 1inch (1INCH) used for?

Accepted Answer

The 1INCH token serves several important functions:

1. **Governance**: 1INCH holders can participate in the governance of the 1inch DAO (Decentralised Autonomous Organisation). By staking 1INCH tokens, users gain voting power, enabling them to propose and vote on protocol changes, including fee structures, upgrades, and the allocation of community resources.

2. **Staking and Rewards**: 1INCH can be staked to earn rewards and to participate in liquidity mining programs. Stakers contribute to the security and functionality of the network while earning returns on their holdings.

3. **Utility in Trading**: The 1INCH token is used to support various trading features within the 1inch ecosystem. For instance, it can be used to pay for gas fees in certain transactions or to reduce slippage in trades. The token also supports advanced trading features such as limit orders and the Fusion mode, which optimises transactions by mitigating front-running risks and reducing gas costs.

4. **Fee Management**: Within the 1inch Network, users can leverage 1INCH tokens to reduce transaction costs. On the Binance Smart Chain, where gas fees are generally lower than on Ethereum, 1INCH tokens help further minimise these costs.

Question 3

Who created 1inch (1INCH)?

Accepted Answer

1inch was co-founded by Sergej Kunz and Anton Bukov in 2019 during the ETHGlobal New York hackathon. Sergej Kunz, a software engineer with experience in cybersecurity, and Anton Bukov, a seasoned smart contract developer, brought together their expertise to create the 1inch DEX aggregator. Their initial success at the hackathon led to the rapid development and launch of the 1inch Network.

Since its inception, 1inch has received significant backing from investors, including Binance Labs and Pantera Capital, which have helped fuel its growth and expansion. The 1inch Network has quickly become one of the most prominent platforms in the DeFi space, known for its efficiency and innovative approach to decentralised trading.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	1INCH-USDT 1INCHUSDT	binance	AA	0.09610USDT	-3.22%	9,789,167.501INCH	13,929	0.09930USDT	0.1006USDT
2	1INCH-USDT 1INCH_USDT	whitebit	BB	0.09608USDT	-3.22%	3,232,753.781INCH	26,705	0.09928USDT	0.1006USDT
3	1INCH-USD 1INCH-USD	coinbase	AA	0.09616USD	-3.10%	2,347,060.191INCH	608	0.09924USD	0.1004USD
4	1INCH-USDT 1INCH-USDT	okex	A	0.09615USDT	-3.22%	2,297,325.601INCH	5,972	0.09935USDT	0.1005USDT
5	1INCH-USDT 1INCHUSDT	bybit	A	0.09612USDT	-3.14%	1,988,264.471INCH	6,422	0.09924USDT	0.1005USDT
6	1INCH-USDT 1INCH_USDT	gateio	A	0.09614USDT	-3.11%	1,195,468.001INCH	1,368	0.09923USDT	0.1004USDT
7	1INCH-USDT 1INCHUSDT_SPBL	bitget	BB	0.09616USDT	-3.18%	550,319.431INCH	1,202	0.09932USDT	0.1004USDT
8	1INCH-EUR 1INCH-EUR	coinbase	AA	0.08359EUR	-2.53%	450,978.131INCH	145	0.08576EUR	0.08728EUR
9	1INCH-USDT 1INCH-USDT	kucoin	BB	0.09621USDT	-2.99%	429,080.971INCH	1,012	0.09918USDT	0.1004USDT
10	1INCH-USD 1INCHUSD	kraken	AA	0.09620USD	-3.02%	378,386.501INCH	151	0.09920USD	0.1002USD
11	1INCH-USDC 1INCH_USDC	whitebit	BB	0.09596USDC	-3.24%	355,626.391INCH	673	0.09917USDC	0.1005USDC
12	1INCH-EUR 1INCHEUR	kraken	AA	0.08360EUR	-3.13%	254,819.751INCH	121	0.08630EUR	0.08710EUR
13	1INCH-BTC 1INCH_BTC	whitebit	BB	0.0₅1196BTC	-1.70%	171,865.001INCH	281	0.0₅1217BTC	0.0₅1230BTC
14	1INCH-GBP 1INCH-GBP	coinbase	AA	0.07222GBP	-2.21%	150,158.751INCH	24	0.07385GBP	0.07457GBP
15	1INCH-USDC 1INCHUSDC	binance	AA	0.09620USDC	-3.02%	65,895.901INCH	195	0.09920USDC	0.1005USDC
16	1INCH-USDT 1INCH_USDT	cryptodotcom	AA	0.09658USDT	-2.56%	51,620.801INCH	45	0.09912USDT	0.1003USDT
17	1INCH-UAH 1INCH_UAH	whitebit	BB	4.16UAH	-2.99%	39,568.971INCH	170	4.29UAH	4.34UAH
18	1INCH-USD 1INCH_USD	cryptodotcom	AA	0.09653USD	-2.78%	27,336.101INCH	53	0.09929USD	0.1003USD
19	1INCH-USDC 1INCH-USDC	okex	A	0.09798USDC	-0.14%	13,145.701INCH	13	0.09812USDC	0.1001USDC
20	1INCH-EUR 1INCH-EUR	okex	A	0.08344EUR	-2.76%	9,976.861INCH	36	0.08581EUR	0.08712EUR
21	1INCH-USD 1INCH-USD	okex	A	0.09659USD	-1.77%	2,037.101INCH	9	0.09833USD	0.1000USD
22	1INCH-USD 1INCHUSD	cexio	BB	0.09615USD	-3.26%	581.301INCH	3	0.09939USD	0.1000USD
23	1INCH-EUR 1INCHEUR	cexio	BB	0.08697EUR	3.36%	261.301INCH	1	0.08415EUR	0.08697EUR
24	1INCH-USDC 1INCHUSDC	cexio	BB	0.09990USDC	2.51%	226.461INCH	1	0.09745USDC	0.09990USDC
25	1INCH-BTC 1INCHBTC	cexio	BB	0.0₅1220BTC	1.67%	226.461INCH	1	0.0₅1200BTC	0.0₅1220BTC
26	1INCH-USDT 1INCHUSDT	cexio	BB	0.1001USDT	2.50%	187.151INCH	3	0.09772USDT	0.1001USDT
27	1INCH-USDT 1inchusdt	huobipro	C	0.09681USDT	-2.69%	10,794,861.461INCH	18,456	0.09949USDT	0.1006USDT
28	1INCH-USDT 1inch_usdt	lbank	C	0.09610USDT	-3.22%	8,826,051.461INCH	83,542	0.09930USDT	0.1006USDT
29	1INCH-KRW KRW-1INCH	upbit	B	132.00KRW	-2.22%	6,049,220.521INCH	1,811	135.00KRW	138.00KRW
30	1INCH-USDT 1INCH_USDT	p2pb2b	D	0.09610USDT	-3.13%	6,107,438.101INCH	10,990	0.09920USDT	0.1006USDT
31	1INCH-USDT 1inch_usdt	xtpub	-	0.09610USDT	-3.22%	4,193,293.001INCH	3,538	0.09930USDT	0.1006USDT
32	1INCH-USDT 1INCHUSDT	bitrue	D	0.09620USDT	-3.22%	3,190,446.441INCH	37,619	0.09940USDT	0.1007USDT
33	1INCH-USDT s1INCHUSDT	phemex	C	0.09590USDT	-3.52%	2,201,118.291INCH	5,633	0.09940USDT	0.1006USDT
34	1INCH-USDT 1INCH_USDT	coinw	-	0.09620USDT	-3.12%	1,799,175.801INCH	1,731	0.09930USDT	0.1006USDT
35	1INCH-USDT 1INCHUSDT	hitbtc	E	0.09606USDT	-3.25%	1,684,880.401INCH	1,188	0.09929USDT	0.1004USDT
36	1INCH-USDT 1INCHUSDT	bequant	C	0.09606USDT	-3.25%	1,684,880.401INCH	1,188	0.09929USDT	0.1004USDT
37	1INCH-USDT 1INCHUSDT	toobit	C	0.09620USDT	-3.22%	1,554,803.701INCH	6,276	0.09940USDT	0.1007USDT
38	1INCH-USDT 1INCHUSDT	mexc	C	0.09621USDT	-3.18%	1,095,248.411INCH	3,100	0.09937USDT	0.1005USDT
39	1INCH-USDT 1INCH_USDT	bydfi	-	0.09605USDT	-3.32%	882,634.201INCH	3,002	0.09935USDT	0.1005USDT
40	1INCH-USDT 1INCH_USDT	bitunix	C	0.09610USDT	-3.22%	867,275.701INCH	6,862	0.09930USDT	0.1005USDT
41	1INCH-USDT 1INCH-USDT	bingx	D	0.09630USDT	-2.33%	604,604.151INCH	7,280	0.09860USDT	0.1004USDT
42	1INCH-USDT 1inch_usdt	digifinex	D	0.09610USDT	-3.22%	484,045.071INCH	2,582	0.09930USDT	0.1005USDT
43	1INCH-USDT 1INCHUSDT	latoken	D	0.09652USDT	-2.49%	455,754.351INCH	3,095	0.09899USDT	0.1000USDT
44	1INCH-EUR 1INCH-EUR	bitvavo	B	0.08355EUR	-3.25%	291,940.511INCH	80	0.08636EUR	0.08750EUR
45	1INCH-EUR 1INCHEUR	bit2me	B	0.08360EUR	-3.13%	254,819.751INCH	121	0.08630EUR	0.08710EUR
46	1INCH-ETH 1INCH_ETH	bilaxy	-	0.0₄3953ETH	52.74%	233,666.001INCH	502	0.0₄2588ETH	0.0₄4031ETH
47	1INCH-KRW 1INCH_KRW	bithumbkorea	-	131.00KRW	-1.50%	175,887.831INCH	83	133.00KRW	136.00KRW
48	1INCH-USDT 1INCHUSDT	coinex	C	0.09620USDT	-2.78%	108,645.561INCH	8,678	0.09895USDT	0.1005USDT
49	1INCH-USDT 1INCHUSDT	binanceusa	B	0.09590USDT	-2.94%	8,079.301INCH	18	0.09880USDT	0.09960USDT
50	1INCH-IDR 1inchidr	indodax	E	1,775.00IDR	2.48%	1,961.231INCH	12	1,732.00IDR	1,777.00IDR