The 1inch Network integrates decentralized protocols to deliver the most profitable, swift, and secure operations in the decentralized finance (DeFi) space. The initial protocol of the 1inch Network is a decentralized exchange (DEX) aggregator solution that sources deals from multiple liquidity providers, giving users superior rates compared to standalone exchanges. The 1inch Aggregation Protocol employs the Pathfinder algorithm to identify optimal trading paths across over 400 liquidity sources across 12 blockchains: Ethereum, BNB Chain, Polygon, Avalanche, Optimism, Arbitrum, Fantom, Gnosis Chain, Klaytn, Aurora, zkSync, and Base. Within a little over two years, the 1inch DEX aggregator has reached over 1 million users and exceeded $150 billion in total transaction volume exclusively on the Ethereum network. The 1inch Limit Order Protocol offers innovative and versatile limit order swap options within DeFi. Its features include dynamic pricing, conditional orders, and additional RFQ support, enabling functionalities such as stop-loss and trailing stop orders, as well as auctions. The 1inch Wallet functions as a multichain mobile platform, featuring a user-friendly interface and secure storage, transaction, and staking services. This comprehensive wallet is specifically designed to facilitate seamless interaction with 1inch's tools and services. The 1INCH token serves as the governance and utility token for the 1inch Network. Holders of 1INCH tokens can stake them to engage in the governance of the 1inch Network's decentralized autonomous organization (DAO), including stewardship of the 1inch DAO Treasury. Token holders can also select resolvers and earn a share of the associated fees. Through 1inch Fusion, users can stake 1INCH tokens to acquire Unicorn Power (UP), which can then be delegated to any 1inch Fusion Resolver to begin earning rewards. Stakers have the option to choose either a custom or pre-set lock period. The st1INCH tokens cannot be unstaked or withdrawn without incurring a penalty until the pre-defined lock period completes. In December 2020, 1inch concluded a $12 million Series A funding round led by Pantera Capital, with participation from ParaFi Capital, Blockchain Capital, Nima Capital, and Spartan Group. This funding round was executed via a SAFT (Simple Agreement for Future Tokens) sale. In December 2021, 1inch completed a $175 million Series B funding round, led by Amber Group. This investment event attracted around 50 participants, including Jane Street, VanEck, Fenbushi Capital, Alameda Research, Celsius, Nexo, Tribe Capital, and Gemini Frontier Fund.

The 1inch Network was established by Sergej Kunz and Anton Bukov during the ETHGlobal New York hackathon in May 2019. The two initially met during a live stream on Kunz’s YouTube channel, CryptoManiacs, and subsequently collaborated in various hackathons, securing a prize in Singapore and achieving two major awards from ETHGlobal. Before founding 1inch, Sergej Kunz served as a senior developer at the product price aggregator, Commerce Connector, worked at the communication agency Herzog, managed projects at the Mimacom consultancy, and was employed full-time at Porsche in both DevOps and cybersecurity roles. Anton Bukov has been engaged in software development since 2002 and has been active in decentralized finance (DeFi) since 2017. His professional experience includes work on projects such as gDAI.io and the NEAR Protocol.

Furthermore, the 1inch Network provides access to the most extensive liquidity across various blockchains, offering users competitive pricing and a high level of security, noted for being the most rigorously audited project in DeFi. In late 2022, Fusion mode was launched, allowing users to swap tokens without incurring network fees while securing the best available rates. Additionally, Fusion mode enhances user protection against MEV. Trades in Fusion mode are carried out by resolvers—professional traders who employ advanced and efficient strategies to safeguard users' swaps from MEV.

1inch operates as a non-custodial platform, ensuring that all transactions occur directly from a user's wallet across any supported blockchains and layer-2 networks within a singular transaction. The technical architecture of all 1inch protocols ensures a high level of security for users. For instance, it allows insecure liquidity sources to connect to the 1inch Aggregation Protocol without exposing users to the risk of fund loss. The protocol includes security verifications throughout each transaction to safeguard against potential losses. As of July 2022, the 1inch Network has integrated over 240 liquidity sources. The smart contracts of 1inch have been audited by prominent audit teams in the industry, including OpenZeppelin, Consensys Diligence, SlowMist, Haechi Labs, CoinFabrik, Certik, Hacken, Scott Bigelow, MixBytes, and Chainsulting.

Following the launch of the 1INCH token in late December 2020, all wallets that had engaged with the 1inch dApp by midnight on December 24 received 1INCH tokens, provided they met specific criteria. Additionally, liquidity providers for the 1inch Liquidity Protocol are awarded 1INCH tokens through various incentives and liquidity mining programs initiated by the 1inch Foundation. 1INCH can be traded on several exchanges, including Binance, Huobi Global, Coinbase, Kraken, KuCoin, and OKEx. For further information about this project, refer to our comprehensive analysis of the 1inch Network and the 1INCH "Learn & Earn" campaign page on Eulerpool.