What is 1inch coin? On December 26, 2020 the 1INCH Foundation’s independent board issued token 1INCH. This is both Governance and Unility token, and 1INCH will be used to manage network protocols managed under a decentralized autonomous organization model.
1 – What is 1inch coin?
1inch coin is essentially a token of the 1INCH Exchange ecosystem with the following basic parameters:
- Symbol: 1INCH.
- Blockchain technology: Ethereum.
- Token Criteria: Governance, Unility.
- Token type: ERC-20.
- Total Supply: 1,500,000,000 1INCH.
- Circulating Supply: 77,084,211 1INCH.
2 – What is 1INCH Exchange?
1INCH exchange is an exchange founded and developed by 2 Russians Sergej Kunz and Anton Bukov.
It is a decentralized non-custodial synthetic exchange with all transactions executed in a single transaction from users’ ethereum-based wallet.
The 1INCH exchange offers its users the cheapest deals and access to a wide variety of tokens like ERC-20, supporting more than 200 coins, and different trading pairs.
3 – Ecosystem
1INCH integrates popular DEXs such as Oasis, kyber network, uniswap, moonsiswap, balancer, … Almost users can swap any type of ERC-20 token.
1INCH also introduced mooniswap, which is a next generation AMM automated marketplace creation that allows the Liquidity Provider to profit.
The Gastoken platform helps traders reduce gas fees for transactions.
1INCH token is both governance and unility.
4 – Problem solved
1INCH solves the issues of self-management, enhances security, listing autonomy, diversity of coins.
On 1INCH exchange, users can swap or set limit orders for many different tokens.
Liquidity and prices are clearly displayed to users, which saves users more time.
5 – Release schedule
1INCH’s official launch date is December 26, 2020 with 6% of the total released supply. Other tokens will be released from time to time as follows:
30% allocated to community incentives and will be unlocked for distribution within 4 years.
14.5% will be geared towards protocol growth and development and also unlocked for a period of 4 years.