1INCH is the governance and utility token of the 1inch Network, the leading DEX aggregator on Ethereum and EVM chains. When a user wants to trade tokens, 1inch’s Pathfinder routing algorithm discovers the optimal path across Uniswap, Curve, SushiSwap, Balancer, and hundreds of other liquidity sources — splitting the order across multiple protocols when necessary to minimize price impact and maximize the amount received. Rather than trading on one DEX and paying retail prices, users get near-wholesale pricing by tapping all available liquidity simultaneously.
| Stat | Value |
|---|---|
| Ticker | 1INCH |
| Price | $0.10 |
| Market Cap | $134.62M |
| 24h Change | +1.5% |
| Circulating Supply | 1.40B 1INCH |
| Max Supply | 1.50B 1INCH |
| All-Time High | $8.65 |
| Contract (Ethereum) | 0x1111...c302 |
| Contract (Base) | 0xc5fe...1cbe |
| Contract (Binance Smart Chain) | 0x1111...c302 |
How It Works
Order routing: When a user submits a swap on 1inch, the Pathfinder algorithm scans all integrated DEX sources in real time, calculates expected output across thousands of potential paths, and executes the optimal split. For example, swapping $1M USDC to ETH might route 40% through Uniswap V3, 35% through Curve, and 25% through a Balancer pool.
1inch Fusion mode: Introduced in 2022, Fusion swaps use “resolvers” (market makers who compete to fill orders) rather than on-chain AMMs. Users sign an order with a price range and expiry; resolvers fill it at the best price, covering gas fees in exchange for a portion of the price improvement. Users pay zero gas for swaps in Fusion mode.
1inch Limit Orders: Users can set limit orders that execute automatically when on-chain prices reach specified levels — without counterparties needing to be online simultaneously.
1INCH staking:
- Staked as st1INCH for governance voting
- Resolvers must stake 1INCH as a performance bond for Fusion mode
- Longer lock periods grant amplified voting power (Unicorn Power model)
Tokenomics
| Allocation | Amount | Notes |
|---|---|---|
| Community incentives | 30% | Distributed via staking and market making rewards |
| Backers | 14.5% | 4-year vesting |
| Growth & development | 14.5% | Protocol development fund |
| Core contributors | 22.5% | 4-year vesting |
| Protocol growth | 18.5% | Ecosystem fund |
Max supply: 1,500,000,000 1INCH. Distribution includes early user retroactive airdrop (Christmas 2020) and ongoing incentive programs.
Use Cases
- Governance — 1INCH holders vote on fee parameters, protocol upgrades, and resolver requirements
- Resolver bond — Market makers filling Fusion orders must stake 1INCH to participate
- Fee discounts — Staked 1INCH reduces fees on 1inch’s limit order protocol
- Retroactive rewards — 1inch has used airdrops to reward active DeFi users (Christmas airdrop 2020, plus additional drops)
History
- Jun 2019 — Serge Kunz and Anton Bukov build the 1inch aggregator at ETHNewYork hackathon in 24 hours; it wins the hackathon
- 2020 — 1inch V2 launches with Pathfinder algorithm; 1inch raises $2.8M then $12M from Binance Labs, Galaxy Digital, and others
- Dec 25, 2020 — 1INCH token launches on Christmas Day with a retroactive airdrop to all Ethereum DeFi users who had swapped before Dec 24; “the best Christmas gift in DeFi”
- 2021 — 1inch expands to BNB Chain, Polygon, Optimism, Arbitrum; aggregates billions in monthly volume
- Dec 2022 — Fusion mode launches, introducing gasless swaps via the resolver network
- 2023–2024 — 1inch continues expanding chains and improving Fusion fill rates; faces competition from aggregators like Paraswap and CowSwap
Common Misconceptions
“1inch is just a DEX.” 1inch is an aggregator — it routes trades to DEXes but doesn’t hold liquidity itself. The distinction matters: 1inch’s value is in routing intelligence, not liquidity depth.
“Fusion swaps are slower.” Fusion orders fill within seconds in most cases, as resolvers compete for fill rights. Thinly traded tokens may see slower resolution.