1inch is a functional token issued by 1inch trading platform. The purpose of issuing the token 1inch by this platform is to ensure that the agreement integration on the aggregator maintains the state without permission, protect the development ecosystem and reward governance behavior. It will also be used for stacking for network security. 1inch stressed that 1inch is not an investment, but a tool that can help the platform establish a decentralized and unlicensed network.
1inch stressed that 1inch tokens will not be sold to users, but as a reward for using 1inch, and said that the token system will be a virtuous circle, from which users can benefit.
1inch Exchange DEX aggregator and 1inch liquidity protocol (formerly known as mooniswap).
1inch. Exchange DEX aggregator: 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 trading price.
It uses a new mechanism called “AMM” to increase the liquidity of the trader, and it is called “AMM” to protect the trader from increasing the profit.
1inch token is the native erc-20 token of 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 introduces a new governance framework called instant governance, in which 1inch token holders and key stakeholders of the agreement (such as LP) can directly vote on the agreement parameters.
One of the key features of instant governance is that the token pledgor or LP can vote dynamically to change the agreement settings without waiting for the proposal to be submitted or closed.