1INCH/USD: Convert 1inch (1INCH) to United States Dollar (USD)

1inch (1INCH) is a decentralized network that brings together various protocols to facilitate efficient, secure, and profitable operations in the decentralized finance (DeFi) space. The network's first protocol is a decentralized exchange (DEX) aggregator that searches for the best deals across multiple liquidity sources, providing users with better rates than any individual exchange. The 1inch Network also includes the 1inch Limit Order Protocol, which offers innovative and flexible limit order swap opportunities, and the 1inch Wallet, a multichain mobile platform for secure storing, transaction, and staking capabilities. The 1INCH token is the governance and utility token of the 1inch Network, allowing holders to participate in the network's governance and earn a portion of the fees.

1inch operates through a series of protocols. The 1inch Aggregation Protocol uses the Pathfinder algorithm to find the best paths across over 400+ liquidity sources on 12 chains, including Ethereum, BNB Chain, Polygon, Avalanche, and others. The 1inch Limit Order Protocol allows for innovative and flexible limit order swap opportunities, with features such as dynamic pricing and conditional orders. The 1inch Wallet provides an easy-to-navigate interface for secure storing, transaction, and staking capabilities. The 1INCH token holders can stake their tokens to participate in the network's governance, including the management of the 1inch DAO Treasury.

1inch aims to enhance the DeFi space by providing users with the most lucrative, fastest, and protected operations. It offers users better rates than any individual exchange by searching deals across multiple liquidity sources. The 1inch Limit Order Protocol facilitates innovative and flexible limit order swap opportunities, enabling various implementations, including stop-loss and trailing stop orders, as well as auctions. The 1inch Wallet provides secure storing, transaction, and staking capabilities, streamlining interactions with 1inch’s features. Additionally, 1INCH token holders can participate in the network's governance and earn a part of the fees.

1inch was founded by Sergej Kunz and Anton Bukov during the ETHGlobal New York hackathon in May 2019. The project quickly gained traction, reaching 1M users and surpassing $150B in overall volume on the Ethereum network alone in just over two years. In December 2020, 1inch raised $12 million in Series A funding, followed by a $175 million Series B round in December 2021. The project has continued to evolve, introducing new features and protocols to enhance its offering in the DeFi space.