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1 1INCH =
Amount in AUD
Switch to 1INCH
A trade fee will apply to this transaction (0.85% inc. GST).
What is 1inch?
The 1inch token is a governance token for the 1inch platform, which is a decentralised exchange (DEX) aggregator. DEXs are cryptocurrency exchanges that don’t require a third party to govern it all.
As a DEX aggregator, the 1inch platform obtains information on a handful of decentralised exchanges for the cheapest prices, it then reroutes its customers’ trades between them to try and ensure that they are getting the best prices. The 1INCH token, being a governance token, is used to vote on the way the 1inch platform is run. In late 2020, the launch of 1inch’s V2 platform made everything quicker and cheaper, adding some more complex trades to keep prices low - such as rerouting money earmarked as collateral for loans on Aave and Compound.