Swap 1INCH at the Best Rate

What is 1INCH?

1INCH is an ERC-20 token that coordinates the 1inch Network, a set of non-custodial protocols that route swaps across hundreds of liquidity sources so users keep control of their assets while getting competitive rates. The token votes in the 1inch DAO and powers the network's staking and delegation mechanics. It was released on 25 December 2020 and distributed to wallets that had used 1inch before 24 December, subject to minimum activity conditions.

1inch began in 2019, when Sergej Kunz and Anton Bukov built the first version of the aggregation protocol at a hackathon. The network has since grown into a suite covering swap aggregation, limit orders and intent-based order settlement across more than a dozen chains, with the DAO steering treasuries and protocol-level parameters.

How 1INCH works

Voting weight is earned by locking tokens. Depositing 1INCH into the governance staking contract issues st1INCH and Unicorn Power, which decays as the chosen lock runs down, so longer commitments carry more influence. Proposals are discussed on the governance forum and decided on the 1inch Snapshot space, where submission requires 100,000 Unicorn Power and passing requires a quorum of 10 million, with five-day votes for standard proposals and two-day votes for signaling ones.

The same Unicorn Power can be delegated twice over: once to a Snapshot delegate for governance, and separately to a resolver, one of the professional market participants that settle intent-based swap orders on 1inch. A resolver needs at least 5% of all delegated Unicorn Power to fill orders, which turns delegation into a merit-based competition and lets each resolver run its own reward program for delegators.

1INCH supply and tokenomics

1.5 billion 1INCH were minted at genesis, with 94% locked in vesting contracts and about 6% circulating on launch day. The allocation gave 30% to community incentives, 14.5% to a network growth fund, 22.5% to core contributors and 33% to backers, all unlocking over roughly four years and completing in December 2024.

The cap is final. On 6 April 2022 the 1inch Foundation burned the token's mint function, so no more than 1.5 billion 1INCH can ever exist. The Foundation had also deployed the token on BNB Chain in February 2021 at the same contract address, where 10 million tokens were issued to serve as bridge liquidity without increasing the total supply.

Who builds 1INCH

The network's protocols and products are built by 1inch contributors, while the 1inch Foundation, the independent body that released the token, supports adoption through grants and incentive programs. Kunz and Bukov remain the network's public co-founders. Control over DAO treasuries and governance-scoped parameters sits with stakers rather than with any single company.

What people use 1INCH for

Beyond voting, the token's mechanics reward taking part in how orders get filled. Delegating Unicorn Power ties holders to the network's order flow, and resolvers compete for that delegation with incentive programs of their own.

• Stake 1INCH for st1INCH and Unicorn Power to vote in the 1inch DAO.
• Delegate Unicorn Power to a resolver and earn its delegation rewards.
• Submit or support proposals on the 1inch Snapshot space.
• Provide 1INCH liquidity in pools on Ethereum or BNB Chain.

1INCH risks and considerations

1INCH is not equity and carries no claim on network revenue; its powers are the ones governance defines. Influence requires locking, and Unicorn Power decays, so passive holders drift toward zero voting weight over time. Quorums are high in absolute terms, and large stakers and resolvers hold significant sway over outcomes.

Only the Ethereum and BNB Chain deployments at 0x111111111117dc0aa78b770fa6a738034120c302 are the Foundation's own issuance. Tokens labeled 1INCH on other networks are bridged representations whose guarantees depend on the bridge operator, so verify the address on whichever chain you trade.