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1inch Network aggregates liquidity from over 100 decentralized exchanges to optimize cryptocurrency swap rates and gas costs. Founded in 2019 by Sergej Kunz and Anton Bukov, the protocol processed $214 billion in trading volume during 2025 across Ethereum, BNB Chain, and nine other networks.

1inch Network is a decentralized exchange (DEX) aggregator that routes cryptocurrency swaps across multiple exchanges to obtain favorable prices and lower costs. A DEX aggregator connects to many liquidity sources, such as automated market makers and order-book exchanges, and executes trades through smart contracts without taking custody of user funds. This structure places 1inch within decentralized finance (DeFi), where users trade and lend directly through blockchain protocols rather than centralized intermediaries.

The protocol combines several components: an aggregation protocol that finds optimal swap routes, a limit order protocol for conditional trading, and a liquidity protocol that hosts token pools. Governance and utility revolve around the 1INCH token, an ERC-20 asset with a fixed maximum supply of 1.5 billion tokens. As of January 2026, 1INCH trades around $0.16 with a market capitalization near $220 million, based on external market data and the article outline. The main body of this article explains how these mechanisms work and how they interact across multiple blockchains.

Key takeaways

1inch Network aggregates liquidity from over 100 decentralized exchanges across more than 11 blockchains and routes cryptocurrency swaps at competitive rates.

Pathfinder, the 1inch routing algorithm, splits orders across several liquidity sources and reduces slippage and gas fees compared with single-exchange execution.

The protocol includes three core components: an aggregation protocol, an off-chain limit order protocol, and a liquidity protocol that evolved from Mooniswap.

The 1INCH token is an ERC-20 asset with a maximum supply of 1.5 billion and provides governance rights in the 1inch DAO.

1inch reported around $214 billion in swap volume during 2025, executing about 114 million transactions across major networks such as Ethereum and BNB Chain.

What is 1inch Network?

1inch Network is a DEX aggregator that scans many decentralized exchanges to find efficient routes for cryptocurrency swaps. The protocol connects to more than 100 liquidity sources and executes trades through smart contracts while users keep control of their wallets. This non-custodial design removes the need to deposit funds into a centralized platform and reduces counterparty risk.

Price differences exist between DEXs because each exchange holds separate liquidity pools and updates prices independently. Manual comparison across many exchanges requires time, introduces errors, and increases the chance of unfavorable execution prices. 1inch automates this process by querying prices across all integrated sources, calculating the best combination of routes, and executing the final trade in a single transaction. The protocol also reduces slippage, which is the difference between the expected price and the execution price, by splitting orders across several pools.

1inch Network operates as a non-custodial protocol, so traders sign transactions from their own wallets and retain ownership of private keys. Smart contracts handle token transfers and routing logic without ever holding long-term balances on behalf of users. This structure combines the convenience of an aggregator interface with the security model of self-custody. A common analogy compares 1inch to a travel price website that checks many airlines and booking sites and then books the cheapest available route in one step.

Who created 1inch Network?

Sergej Kunz and Anton Bukov founded 1inch Network in May 2019 at ETHGlobal, a blockchain hackathon in New York City. Kunz previously worked as an engineer at Porsche and contributed to CryptoManiacs, a cryptocurrency analytics and streaming project. Bukov worked as a C++ developer and contributed to protocol engineering at NEAR, a smart contract blockchain platform. The founders built the first 1inch prototype during a 56-hour hackathon sprint and then expanded it into a full protocol.

The name "1inch" refers to Bruce Lee's one-inch punch, a martial arts technique that compresses maximum force into a very short distance. The founders used this image to describe concentrated efficiency in trade execution and gas usage. After the 2019 prototype, 1inch launched publicly in 2020 as a DEX aggregator for Ethereum-based tokens. The protocol released the 1INCH token in December 2020 through an airdrop to early users and contributors.

Today, 1inch governance uses several entities: the 1inch Foundation, the 1inch DAO, and 1inch Labs, the core development team. The Foundation coordinates grants, research, and ecosystem support, while Labs builds protocol upgrades and products. The DAO manages on-chain and off-chain governance decisions through voting by 1INCH token holders.

How does 1inch Network work?Aggregation protocol and Pathfinder

Pathfinder is the routing algorithm for the 1inch aggregation protocol and scans liquidity sources in real time across more than 100 DEXs. The algorithm analyzes current prices and pool depths and then selects a route or combination of routes that minimizes total trade cost, including gas fees and slippage. Slippage is the difference between the price quoted when the user signs the transaction and the final execution price on-chain.

Pathfinder splits large orders into parts and sends each part through a different DEX or pool when this reduces overall cost. For example, a 1,000 DAI trade into ETH might route 600 DAI through Uniswap, 300 DAI through Curve, and 100 DAI through Balancer if that mix delivers the highest output after gas. The algorithm calculates this distribution automatically and presents the final expected output before the user signs the transaction. Users see the route breakdown inside the interface, including which protocols and pools participate in the swap.

Pathfinder runs inside the Ethereum Virtual Machine (EVM) environment on supported chains and uses smart contracts to execute the combined route. The protocol evaluates thousands of combinations in milliseconds and commits only the selected path to the blockchain when the transaction is mined. This structure lets traders perform multi-exchange, multi-pool swaps through a single interaction with the 1inch interface.

Limit order protocol

The 1inch limit order protocol lets users define a specific price at which they want to buy or sell a token. A limit order executes only when market prices reach the user's target level, unlike a market order, which executes immediately at the best available price. 1inch stores limit order data off-chain, so users do not pay gas fees when they place or modify orders. Gas fees apply only when a resolver submits a matching transaction that settles the order on-chain.

The protocol supports Request for Quote (RFQ) orders, where designated market makers or resolvers commit to fill trades under specific conditions. Advanced order types include stop-loss orders, which trigger a trade when the price moves below a predefined threshold, and trailing stop orders, which adjust the trigger level as the market moves in a favorable direction. These conditional orders give traders structured tools to manage risk and automate their strategies while still interacting with DeFi infrastructure.

Liquidity protocol

The 1inch liquidity protocol manages pools where users deposit token pairs and earn fees from swaps and incentive programs. Liquidity providers deposit assets and receive liquidity provider (LP) tokens that represent their share of the pool. LP tokens act as receipts; users burn them later to withdraw their share of the pool plus accumulated fees. This process resembles deposit receipts within traditional finance but uses on-chain tokens instead of paper or account statements.

The liquidity protocol uses virtual rates to reduce the impact of front-running and maximal extractable value (MEV) attacks. Front-running occurs when an attacker sees a pending transaction and sends a trade with higher gas fees to execute first and exploit the price change. Virtual pricing adjusts internal pool pricing logic to make such attacks less profitable and to stabilize returns for LPs. The liquidity protocol originally launched as Mooniswap and later integrated fully under the 1inch branding.

Key features of 1inch NetworkMulti-chain support

1inch Network operates on more than 11 blockchain networks and extends its aggregation logic across many environments. Supported chains include Ethereum, BNB Chain, Polygon, Arbitrum, Optimism, Avalanche, Fantom, Gnosis Chain, Base, zkSync Era, and Unichain. Integrations expand over time as the team deploys contracts on new networks and connects to local DEXs.

This multi-chain presence means traders use similar tools and interfaces across different ecosystems instead of learning separate workflows for every chain. Liquidity providers and arbitrage traders move capital where fees and yields suit their strategies, while governance decisions coordinate across all supported networks. In 2025, 1inch also integrated cross-chain swap infrastructure with Solana and 12 EVM-compatible networks, further expanding reach beyond Ethereum-style ecosystems.

Gas fee optimization

Blockchain transactions require gas fees, which are payments to validators for processing transactions and executing smart contracts. 1inch reduces these costs through Pathfinder's route selection and through additional features such as Fusion Mode. Pathfinder compares gas consumption for alternative paths and may prefer a route with slightly worse raw prices but lower gas use, resulting in a higher net return. Internal documentation and marketing material report gas reductions of up to 40 percent compared with naive execution on a single DEX.

Fusion Mode abstracts gas cost management by using resolvers that cover gas and then recoup costs from spread revenue or fees defined by the protocol. Users submit intents describing the trade they want, and resolvers compete to settle these intents under protocol-defined rules. 1inch previously operated Chi Gas Token, which users minted when gas was cheap and spent when gas was expensive to reduce net costs, but this mechanism is no longer central after fee markets evolved on Ethereum.

Security and self-custody

1inch follows a non-custodial architecture, so smart contracts execute swaps directly from user wallets while users retain control of private keys. The protocol does not hold centralized user deposits, which shifts risk from exchange insolvency to contract security and correct transaction signing. Security firms such as OpenZeppelin have audited key 1inch smart contracts, reviewing the code for vulnerabilities before or shortly after deployment.

Maximal extractable value (MEV) protection techniques reduce the risk that validators or other actors reorder transactions in a way that extracts value from users. These techniques include virtual pricing in liquidity pools and routing logic that accounts for potential sandwich attacks, where an attacker trades immediately before and after a user's transaction. Users still face standard DeFi risks, including smart contract bugs, phishing attacks, and misconfigured approvals, so security practices such as hardware wallets and transaction review remain important.

1inch Wallet

The 1inch Wallet is a mobile application that provides a self-custodial interface for interacting with the 1inch protocol and supported networks. Users manage keys locally on their devices and sign swaps, approvals, and governance actions from within the app. The wallet integrates directly with the aggregation protocol, so traders construct routes and execute swaps without connecting separate browser extensions.

Integration with Ledger hardware wallets lets users store private keys offline while still using the 1inch Wallet interface as a front end. In this configuration, the Ledger device signs transactions and keeps seed phrases isolated from internet-connected hardware. The wallet also includes scam protection tools, such as contract checks and token metadata analysis, which warn users about suspicious tokens or unusual transaction parameters before they sign.

What is the 1INCH token?Token overview

The 1INCH token is an ERC-20 cryptocurrency that functions as the governance and utility asset for 1inch Network. ERC-20 defines a common standard for fungible tokens on Ethereum and compatible chains, covering transfers, balances, and allowances. The 1INCH token launched in December 2020 and has a fixed maximum supply of 1.5 billion tokens. Early users and liquidity providers received part of this supply through an airdrop based on their historical activity.

The official token contract on Ethereum uses the address 0x111111111117dc0aa78b770fa6a738034120c302, which users and explorers reference to verify authenticity. As of early January 2026, external sources report a price near $0.16 and a market capitalization around $220 million, with approximately 1.40 billion tokens in circulation. The remaining supply sits in vesting contracts and treasury allocations defined in the original token distribution plans.

Governance functions

The 1INCH token underpins governance in the 1inch DAO, a decentralized autonomous organization that manages protocol parameters and treasury funds. Token holders stake 1INCH to gain governance power and then vote on proposals covering topics such as fee structures, supported assets, incentive programs, and contract upgrades. Voting occurs through Snapshot, an off-chain system that records signatures and tallies votes without charging gas fees for each ballot.

1inch uses an "instant governance" model for some parameters, where approved changes apply directly after voting without extensive timelocks. Larger or more complex changes move through multi-phase processes, including discussion, signaling, and final on-chain implementation stages. This framework combines fast iteration on minor variables with more cautious procedures for structural upgrades.

Staking and utility

Staking 1INCH generates Unicorn Power (UP), which measures a user's governance influence and staking weight within the protocol. Stakers either vote directly on proposals or delegate UP to resolvers that operate Fusion Mode infrastructure. Resolvers that receive more UP handle more order flow and receive higher shares of protocol rewards, which they can then share with delegators.

The token also supports fee discounts and incentive programs. Some configurations route a portion of swap fees or spread surplus to stakers or liquidity providers as 1INCH rewards, depending on current DAO policies. Liquidity mining campaigns allocate additional 1INCH tokens to selected pools on supported networks to deepen liquidity and improve routing quality.

Why use 1inch Network?

Manual cryptocurrency trading across many DEXs requires separate price checks, slippage estimates, and transactions for each platform. This process increases gas costs, consumes time, and leads to inconsistent execution quality. 1inch automates these steps through Pathfinder's real-time routing, which selects cost-efficient paths and executes multi-DEX trades through a single smart contract interaction.

Traders gain several practical benefits. Best prices arise because Pathfinder scans over 100 liquidity sources and constructs routes that maximize output after gas costs. Time efficiency improves because the protocol completes complex swaps in seconds rather than requiring manual operations across many exchanges. Slippage decreases as orders split across multiple pools with sufficient liquidity, which reduces price impact from each partial trade. Gas savings occur when the algorithm prefers routes that minimize total fee consumption, sometimes reducing costs by up to 40 percent versus naive route selection. Self-custody remains constant because all trades execute from user-controlled wallets rather than centralized accounts.

1inch serves different groups within DeFi. Active traders use 1inch to route swaps and manage complex token positions across chains. Liquidity providers deposit tokens into pools and collect trading fees and incentive rewards. Governance participants stake 1INCH, vote on protocol changes, and delegate Unicorn Power to resolvers, linking economic incentives to protocol health.

Summary

1inch Network functions as a non-custodial DEX aggregator that connects to more than 100 liquidity sources across at least 11 blockchains. The aggregation protocol uses Pathfinder to examine many routing options in real time and execute swaps through multiple pools when this improves net outcomes after fees and slippage. Additional components include a limit order protocol with off-chain order storage and conditional orders and a liquidity protocol that distributes LP tokens to depositors and applies virtual pricing to mitigate front-running.

The 1INCH token provides governance and utility functions within this ecosystem. It launched in December 2020 as an ERC-20 token with a 1.5 billion maximum supply and now circulates across many networks through bridges and deployments. Token holders stake 1INCH to gain Unicorn Power, vote on DAO proposals, delegate influence to resolvers, and receive protocol rewards under DAO-defined rules. By early 2026, 1inch has processed about $214 billion in annual swap volume and supports a market capitalization around $220 million for 1INCH, underscoring its role as a major DeFi routing layer.

Conclusion

A reader who understands this article can describe how 1inch aggregates liquidity, calculates routes, and executes trades through smart contracts while preserving self-custody. The article also explains how the 1INCH token structures governance, staking, and incentive mechanisms so that users, resolvers, and liquidity providers coordinate protocol changes and day-to-day usage. This combination of routing logic, multi-chain deployment, and token-based governance defines 1inch Network's role in decentralized finance infrastructure.

Why you might be interested?

1inch Network offers practical tools for people who interact with DeFi markets and want cost-efficient, non-custodial trading. Traders route swaps through many DEXs from a single interface and reduce gas costs and slippage through Pathfinder. Liquidity providers earn fees and incentives from token deposits, while 1INCH holders stake tokens and vote on key protocol parameters through the DAO. These features provide a structured way to trade, supply liquidity, and participate in protocol governance without centralized exchanges.

1inch Network aggregates liquidity across many blockchains so users execute non-custodial token swaps at optimized prices and coordinate protocol governance through the 1INCH token and DAO voting.

Quick stats

1INCH maximum supply: 1,500,000,000 tokens defined in the ERC-20 contract on Ethereum.

1INCH circulating supply: about 1.40 billion tokens as of November 2025, so most tokens already entered the market.

1INCH price: approximately $0.16 per token with a market capitalization near $220 million in January 2026.

Swap volume: around $214 billion in 2025, a 39 percent increase compared with 2024, across about 114 million transactions.

Network distribution: 2025 trading volume includes roughly $97.1 billion on Ethereum and $82.1 billion on BNB Chain, with Arbitrum and Base adding over $22 billion combined.

Supported networks: deployments across at least 11 chains, including Ethereum, BNB Chain, Polygon, Arbitrum, Optimism, Gnosis Chain, Avalanche, Base, zkSync Era, and Unichain, plus cross-chain connectivity with Solana.

Liquidity sources: 1inch connects to more than 100 DEXs and other liquidity providers, extending beyond Uniswap to hundreds of venues.

Data current as of January 2026.

Frequently Asked QuestionsQ1. What is 1inch Network used for?

1inch Network routes cryptocurrency swaps across many DEXs to obtain efficient prices and lower transaction costs while keeping funds in user-controlled wallets. Users also place limit orders, provide liquidity, and participate in DAO governance through the 1INCH token.

Q2. How does 1inch find better swap rates than a single DEX?

The Pathfinder algorithm aggregates prices and liquidity from more than 100 DEXs and evaluates many routing paths in real time. It splits a single order across several exchanges when this reduces slippage and gas fees compared with executing the whole trade on one platform.

Q3. Is 1inch non-custodial?

Yes, 1inch operates as a non-custodial protocol, which means smart contracts execute swaps directly from user wallets. The platform does not hold deposits, so exchange counterparty risk gives way to contract security and correct wallet usage.

Q4. What role does the 1INCH token play?

1INCH is an ERC-20 token that grants voting power in the 1inch DAO and functions as a utility asset within the protocol. Holders stake tokens to gain Unicorn Power, delegate this power to resolvers, and receive protocol rewards or fee discounts when DAO rules support these flows.

Q5. How many 1INCH tokens exist, and what is the current market size?

The maximum supply equals 1.5 billion 1INCH tokens as defined in the token contract. Around 1.40 billion tokens circulate, with a market capitalization of roughly $220 million at a price near $0.16 in January 2026.

Q6. Which blockchains does 1inch support?

By late 2025, 1inch protocols operated on at least 11 networks, including Ethereum, BNB Chain, Polygon, Arbitrum, Optimism, Gnosis Chain, Avalanche, Base, zkSync Era, and Unichain. In 2025, 1inch also introduced direct Solana cross-chain swaps with 12 EVM-compatible networks, extending interoperability beyond Ethereum-style chains.

Q7. How much trading activity passes through 1inch?

Data for 2025 report about $214 billion in swap volume and around 114 million executed transactions, a 39 percent increase over 2024. Ethereum and BNB Chain together account for nearly $180 billion of this activity, with Arbitrum and Base adding more than $20 billion combined.

Q8. How is 1inch different from Uniswap?

Uniswap operates as a single DEX with its own liquidity pools on supported networks. 1inch aggregates Uniswap along with many other venues and routes trades across the entire connected DeFi landscape to reach more favorable effective prices and gas outcomes.

References / Sources

1. 1inch, "1inch | Swap Crypto Tokens at the Best Rates in DeFi," official website, accessed January 2026.

2. 1inch, "Documentation and protocol overview," including Pathfinder, Fusion Mode, and liquidity protocol descriptions, accessed January 2026.

3. CoinPaprika, "1INCH (1INCH) Price, Market Cap, Chart & Info," market data and supply metrics, accessed November 2025–January 2026.

4. MetaMask and Changelly price widgets, "1INCH Token Price and Historical Data," spot price and market capitalization snapshots, January 2026.

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