1inch is a distributed network for decentralized protocols enabling the most lucrative, fastest and protected operations in DeFi.
The 1inch Network unites decentralized protocols enabling the most lucrative, fastest and protected operations in DeFi.
1inch was founded in 2020 by Sergej Kuntz and Anton Bukov. The company is headquartered in Germany.
1inch employs smart contract technology to split a single trade transaction across multiple decentralized exchanges (DEX). Thus, it enables users to optimize and customize each trade. Some of the popular platforms currently utilizing 1inch include Uniswap, Kyber Network, Airswap, Oasis, Bancor, Balancer, Curve, and more.
1inch is currently facilitating over $20M in trades daily and there are currently about 17,700 wallets registered on on its platform. 1inch is the clear leader accounting for up to 80% of the total volume from DEX aggregators, while a large number of the most liquid tokens are connected to 1inch via the liquidity pools of largest DEXes.
1inch is already working on launching a product specifically for institutions called 1inch Pro. It was first revealed in September when the project began geofencing U.S. IP addresses. The product is expected to launch by the end of 2022 or in early 2023.
1inch is backed by Amber Group, Pantera Capital, Binance Labs, Galaxy Digital, Alameda Research, Jane Street, ParaFi Capital, Greenfield One, Dragonfly Capital, FTX, LAUNCHub Ventures, Divergence Ventures, and others. The company raised $175M in Series B round on Dec 01, 2021. This brings 1inch's total funding to $189.8M to date. The latest round valued the company at $2.25B post-money.