### What is 1inch?

1inch is a decentralised exchange (DEX) aggregator that operates on the Ethereum blockchain and other prominent blockchain ecosystems. It sources liquidity from various exchanges and can split a single trade transaction across multiple DEXs to provide users with the best possible trading rates.

### How does 1inch work?

1inch utilises the Pathfinder algorithm to identify optimal trading paths across over 400 liquidity sources on multiple blockchains, ensuring users get the best rates. By aggregating liquidity from multiple DEXs, 1inch eliminates the need for manual price comparison. It uses smart contract technology to facilitate secure and efficient trade execution across these platforms.

### What are the potential use cases for 1inch?

1inch offers various use cases primarily in the decentralised finance (DeFi) sector, including the 1inch dApp for token swaps, 1inch Wallet for asset management, 1inch Portfolio for tracking crypto asset performance, and the 1inch Card for digital asset transactions. It also provides solutions in Web3 operations and financial services such as peer-to-peer payments.

### What is the history of 1inch?

1inch was founded by Sergej Kunz and Anton Bukov in 2019, following their interest in blockchain and smart contracts. The network was birthed at the ETHGlobal hackathon in New York. Among its significant milestones, July 2020 saw the creation of 1inch Limited, and December 2020 marked the launch of the 1INCH governance token and major funding rounds. The network continues to evolve its technology with developments like the Pathfinder algorithm and Fusion mode, expanding its global user base and trading volume.

1inch

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