Everything you need to know about 1Inch exchange and its native token
At heart, 1inch is a decentralized exchange, enabling users to trade various tokens across numerous chains. The clever element, however, is the aggregation part, which enables it to leverage the liquidity of other DEXes such as Uniswap, Kyber, and Oasis Trade.
This is particularly important when exchanging large token amounts. It reduces the price slippage, ensuring trades are optimized for the best price. As a true multichain DEX aggregator, 1inch has become one of the most popular DeFi dapps in the industry. You can learn more about the role of DeFi aggregators in this detailed coverage.
More on 1inch and its native token
Users can further improve the performance of their trading using 1inch’s native 1INCH token, which reduces gas costs of transactions on the Ethereum blockchain. The token is available on BNB Smart Chain and on Polygon as well.
What’s more, the 1inch exchange allows more advanced users to set up limit orders. These are token exchanges that will only be triggered if the token price fulfills a preset target set by the user. 1inch also enables users to easily lock tokens into lending protocols and/or provide liquidity to exchanges.
Now you have a better idea of what the 1inch Exchange is and can offer. Of course, remember all DeFi dapps are experimental and come with risks. Never lock up more value than you’re prepared to lose if something should go wrong.
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