The 1inch Network on BSC brings together decentralized protocols that synergize to deliver the most profitable, fast and secure transactions in the DeFi space.
Contents:
About 1inch Network on BSC
1inch — a decentralized exchange aggregator that allows you to exchange cryptocurrencies at the best rates on the market. It works without commission.
Pathfinder finds the most efficient ways to exchange tokens with the ability to share between different protocols and even different market depths within a single protocol in the shortest possible time.
Project capabilities:
| 1inch Aggregation Protocol | A protocol that simplifies cost-effective and secure atomic transactions by using a wide variety of protocols and performing argument and execution checks. |
| 1inch Liquidity Protocol |
A next-generation automated market maker that protects users from direct attacks and offers capital efficiency to liquidity providers. |
| 1inch DAO | A decentralized autonomous organization that manages a 1-inch network, allowing members to vote on key protocol parameters and take part in network governance. |
As a control and utility token, 1INCH supports multiple tokenomics. It allows users to manage protocols and participate in the evolution of the network, and serves as a connector service token in the liquidity protocol for highly efficient routing. The project is monetized from the very start. 1inch does not take any commission from users, but the exchanges, included in the aggregator, take commission when exchanging. A portion of this commission comes back to the aggregator. Users pay about 42% less commission than making an exchange without the participation of an aggregator.
How to stake 1inch token?
You can lock your tokens in the “Management” section of the DAO tab on the platform. Firstly, go to the official website and connect your wallet to the platform by clicking the "Connect Wallet" button. After connecting your wallet to the exchange, click on the "DAO" tab and then click on "Manage". Enter the amount you want to wager and unlock the token, using the "unlock" or "infinity unlock" option. If you don't want to pay again for this transaction, use the endless unlock option.
What else should you know?
The token was launched at the end of 2020. The first owners of the token were all users who performed transactions within the exchange on September 15, 2020 for an amount, exceeding $ 20. For all of them, the distribution of the token became a gift for Christmas. As a result, 6% of tokens were distributed at the start. The 1inch token itself helps to manage the aggregator through a Decentralized Organization (DAO). That is, token holders will be able to vote on changes and development of the project. Another 14.5% of tokens will be unlocked within 4 years. They will help to develop the project and improve security.
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