What is 1inch Token (1INCH)? | 1inch Exchange Explained in Under 60 Seconds

The 1inch Exchange is a DEX aggregator that finds and executes token swaps at the best prices using their Pathfinder algorithm. The 1inch exchange token (1INCH) is an ERC-20 token used for governance & voting power for the 1inch protocol parameters.

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As a DEX aggregator, 1inch splits orders between many other decentralized exchanges (DEXs) to find the best exchange rates. With liquidity sources from a broad range of DEXs, the 1inch protocol creates a single entry point to decentralized finance (DeFi) trading.

The CHI Gastoken (CHI) is an ERC-20 token used to lower Ethereum gas fees (transaction costs) by up to 42% on the 1inch Exchange.

1INCH token holders can stake their coins to generate more 1INCH tokens. Users that participate in staking on 1inch receive rewards from the swap & price impact fee.

WEBSITE: https://1inch.exchange/