1inch

1inch In-depth Report Generated by AI - For further details, please review:

https://sosovalue.com/coins/1inch

1)What is 1inch？

1inch is a prominent platform in the cryptocurrency space, known for its unique approach to decentralized exchange (DEX) operations. Here’s a concise overview of 1inch, based on the latest information available: Simple Description

Core Function: 1inch operates as an aggregator of decentralized exchanges. It analyzes all DEXs to find and offer the lowest possible trading prices to its users. This functionality plays a significant role in providing efficiency and cost-effectiveness in trading activities within the decentralized finance (DeFi) ecosystem. Key Features and Developments

Native Token: The platform’s native token, 1INCH, plays a vital role in the network’s ecosystem. It is utilized for various purposes, including incentivizing users to participate in liquidity provision and governance. It also acts as a medium of exchange for paying protocol fees and accessing discounts.

Technology Base: 1INCH is based on Ethereum (ETH), meaning it operates within the Ethereum blockchain ecosystem. This ETH-based token drives the network’s functionalities, particularly in determining efficient exchanging routes across all DEXs.

Recent Project Launch: In 2023, the 1Inch team announced the beta launch of a new platform dedicated to web3 developers. This platform aims to facilitate the development of decentralized products more efficiently, leveraging 1Inch’s application programming interface (API). This development marks a significant step in expanding the scope of 1inch’s services beyond just DEX aggregation. Position in the Market

Popularity: 1inch has gained popularity for its ability to streamline the process of finding the best trading prices across various decentralized exchanges. This has made it a go-to platform for many in the DeFi space who are looking for optimal trading solutions. Conclusion 1inch represents an innovative and vital part of the DeFi landscape, providing a solution that tackles one of the key challenges in the decentralized trading space: finding the most efficient and cost-effective trading routes. Its recent ventures into supporting web3 development indicate a forward-looking approach, aiming to broaden its impact in the blockchain and cryptocurrency domains.

2)Which sector does 1inch belong to?

1inch belongs to the decentralized finance (DeFi) sector. DeFi is a revolutionary movement in the financial technology landscape, leveraging blockchain technology to decentralize traditional financial services like trading, lending, and borrowing. 1inch, specifically, is a significant player in this sector, focusing on aggregating decentralized exchanges (DEXs) to optimize cryptocurrency trading. Current Situation of the DeFi Sector (as of 2023)

Performance and Challenges: The DeFi sector experienced significant challenges, with a notable decrease in its total value locked (TVL) since the start of 2022, shedding 75% of its value. Despite this downturn, a slight uptick in TVL was observed at the beginning of 2023. The sector is grappling with various issues, including a heavy reliance on speculative products, difficulties in onboarding and retaining users, and suboptimal user experience (UX).

Market Stability: Despite the challenges, decentralized exchanges (DEXs) remain a promising aspect of DeFi. They provide self-custody, immutability, and transparency, which are significant advantages over centralized finance (CeFi) institutions. However, the lack of an intuitive UX is a critical barrier to wider adoption. Development Prospects of DeFi

Integration with Real-world Assets: There is growing interest in integrating real-world assets with DeFi protocols. This integration ranges from tokenizing these assets to using them as collateral for decentralized lending. Such developments could significantly expand the scope and utility of DeFi platforms.

Innovations in DeFi-specific Technologies: The development of appchains (application-specific blockchains) and enhancements in Ethereum’s scalability are anticipated to greatly benefit DeFi. These technological advancements could make DeFi platforms more efficient, accessible, and user-friendly.

Focus on Undercollateralized Lending: Another area of potential growth is undercollateralized lending, which could align DeFi more closely with traditional financial services. However, this comes with its own set of challenges, primarily in managing risks and ensuring transparency.

Improvements in User Experience: Efforts are being made to improve the UX in DeFi. The suggestion is to use DeFi applications as backend systems, with more user-friendly interfaces built on top of them, providing simpler access to various DeFi services like swapping, staking, and liquidity provisioning. Conclusion The DeFi sector, where 1inch plays a significant role, is currently facing challenges but is also on the cusp of potential breakthroughs and innovations. The integration of real-world assets, technological advancements, and a focus on improving user experience and services could herald a new phase of growth and stability. There is cautious optimism about the sector’s future, with the possibility of a new surge in activity akin to the previous DeFi summer, though its timing remains uncertain.

3)What is tokenomics of 1inch (includes allocation and supply schedule)?

The tokenomics of the 1INCH token, the native cryptocurrency of the 1inch Network, are structured to support the platform’s decentralized finance (DeFi) operations and governance model. Here is an overview of its token allocation and supply schedule: Token Allocation

Initial Distribution: The initial token distribution of 1INCH was as follows:

Team: 22.50%

Advisors: 2.30%

Seed: 18.50%

Community: 12.20%

Network Growth Fund: 14.50%

Community Incentives: 30.00%.

Purpose of Allocation: The allocation to community incentives (30% of the total supply) is designed to encourage participation within the network. The growth and development fund (14.5%) is earmarked for issuing grants and incentivizing developers to build on 1inch protocols. The rest of the allocation is distributed among backers and core contributors of the 1inch Network. Supply Schedule

Launch Date: The 1INCH token was initially launched on December 26, 2020.

Maximum Supply: The maximum supply of 1INCH is capped at 1.5 billion tokens.

Emission Rate: The token has an inflationary type emission rate since its genesis.

Unlock Schedule: On the release day, 6% of the total issuance of 1.5 billion 1INCH tokens was unlocked. The remaining tokens are being gradually unlocked over a four-year period, expected to be completed by the end of 2024. Summary The tokenomics of 1INCH are designed to align the interests of various stakeholders in the network, including the team, advisors, seed investors, and the community. The gradual unlocking of tokens over four years aims to ensure long-term alignment and the sustainable growth of the 1inch Network. The network’s focus on community incentives and developer grants highlights its commitment to fostering a robust and active ecosystem around its DeFi services.

4)What about the team and the investors of 1inch?

The 1inch Network, known for its decentralized finance (DeFi) platform, has a notable team and a significant funding history that have contributed to its development and expansion. Key Team Members

Sergej Kunz: Co-Founder of 1inch Network. His journey in the tech world began at a young age when he first got a computer. Unlike many of his peers who were more into gaming, Sergej was fascinated by the workings of computers, leading to a deep interest in technology and innovation.

Anton Bukov: Co-Founder of 1inch Network. Anton’s first interaction with the crypto space was around 2014-2015 when he developed a spatial arbitrage bot for an exchange. This project marked his initial foray into blockchain technology.

Nikita Ovchinnik: Chief Business Development Officer at 1inch Network, playing a significant role in its strategic growth and partnerships. Funding History

Initial Launch Without VC Funding: The 1inch network was initially launched without the backing of venture capital firms or investors’funding. This indicates a strong foundational concept and execution from the team, allowing the platform to gain initial traction organically.

First Investment Round in August 2020: 1inch closed its first investment round in August 2020, led by Binance Labs. This round raised $2.8 million from institutional investors including Galaxy Digital, Greenfield One, Libertus Capital, Dragonfly Capital, and FTX. This funding marked the beginning of institutional recognition and support for 1inch.

Subsequent Funding Rounds: 1inch has raised substantial funds over multiple rounds. By December 2021, it had raised a total of $2.8 million over three rounds. Its latest funding, as of June 2022, amounted to $189.8 million over six rounds, indicating substantial growth and investor confidence in the platform. Notably, a $175 million Series B funding round was closed, aimed at bolstering regulatory efforts, onboarding institutions, and developing new protocols. This round included investments from prominent crypto investors such as Amber Group, Jane Street, Alameda Research, VanEck, Gemini, and Celsius. Conclusion The 1inch Network’s success can be attributed to its innovative approach to DeFi and DEX aggregation, spearheaded by a skilled and visionary founding team. The platform’s funding history reflects a growing interest and confidence from institutional investors, emphasizing its potential in the rapidly evolving DeFi sector. The support from high-profile investors and venture capital firms underscores 1inch’s significant role in the DeFi ecosystem.

5)What is the development history of 1inch?

List all important events and milestones in the development process of 1inch. The development history of 1inch, a leading DEX aggregator platform for the Ethereum DeFi ecosystem, includes several important events and milestones:

Founding and Initial Development: 1inch was founded by Sergej Kunz and Anton Bukov during the ETHGlobal New York hackathon in May 2019. The idea originated while they were experimenting with arbitrage bots and decided to make the technology available to everyone. At the hackathon, they developed a fully working Minimum Viable Product (MVP) using three decentralized exchanges (DEXes): Kyber Network, Bancor, and Uniswap.

Early Funding and Growth: 1inch raised $2.8 million in a 2020 funding round led by Binance Labs. This was closely followed by a second funding round, raising $12 million led by venture capital firm Pantera Capital. In 2021, it raised another $175 million through multiple institutional investors.

Expansion and Platform Development: By 2021, 1inch had expanded to four new networks and integrated over 120 decentralized exchanges, creating significant liquidity in DeFi. It also launched the 1inch iOS wallet, an all-in-one mobile platform with various functionalities including secure storage, transactions, and staking. The wallet matched the functionalities of the desktop version.

Milestones and User Growth: By the end of 2021, 1inch Network had over a million wallets interacting on Ethereum and over 600,000 between Polygon and Binance Smart Chain. It reached a total volume of $134 billion. In the same year, 1inch introduced the 1inch Network DAO Treasury, a decentralized organization governing the network parameters, allowing 1inch holders to vote on key protocol decisions.

Series B Investment and Further Developments: In December 2021, 1inch concluded a Series B investment round led by crypto-finance company Amber Group for $175 million to expand network utility and allow liquidity access to the decentralized finance market.

Recent Achievements: As of 2023, 1inch reached 17 million in total swap count on BNBChain and crossed the 1 million mark in terms of unique monthly wallets usage. It joined the top 10 dApps by 30-day volume with a result of $5.11 billion.

Token Launch and DAO Model: The 1inch token was launched in 2020, serving as the utility token for the platform. Holders use it to vote within the DAO (Decentralized Autonomous Organization) model. These milestones highlight 1inch’s rapid development and significant impact on the DeFi ecosystem.

6)What is the progress and future roadmap of it?

The development and milestones of 1inch can be traced back to 2019 and continue through recent events: Significant Events and Milestones in 1inch’s Development

2019: 1inch was established by Sergej Kunz and Anton Bukov during the ETH NewYork hackathon. They had previously won prizes at other hackathons and started collaborating in hackathons together.

2020 Milestones:

April to August: 1inch experienced significant growth and development. They added native integration with Curve’s exchange liquidity pool and Synthetix staking in April, followed by support for Compound cUSDT token in May. June saw the launch of Chi, a gas token, and in July, 1inch’s total trade volume reached $1 billion. Their first funding round in August raised $2.8 million from major investors, including Binance Labs and Galaxy Digital, and they released their Automated Market Maker, Mooniswap.

September to December: Collaborations and expansions marked these months. 1inch teamed up with TRON, xBTC, and cybersecurity firm Hacken. They launched Version 2 in November, announcing an integration with MyEtherWallet. The release of the 1INCH token came in December, along with a $12 million fundraising round.

2021 Developments:

Early 2021: February saw a second airdrop of 6 million 1INCH tokens and added support for Binance Smart Chain. In March, 1inch’s v3 aggregation protocol was launched, followed by the release of the 1inch Wallet app for iOS in April.

Mid 2021: Expansion continued with 1inch Network extending to Polygon in May and claiming access to over 50 liquidity sources on Ethereum, 20 on Binance Smart Chain, and 8 on Polygon by June. August witnessed 1inch Network’s expansion to the Optimistic Ethereum mainnet.

Key Changes and Upgrades:

1inch V2 and V3: Version 2, launched in November 2020, introduced features like Pathfinder, improved speed, a more user-friendly UI, and supported various protocols and exchanges. Version 3, launched in March 2021, aimed at cutting gas expenses and maintaining liquidity leadership in the DeFi space.

1 Million Users Milestone: 1inch reached a milestone of 1 million users on the Ethereum network, reflecting its growing popularity. This achievement followed a Series B funding round that raised $175 million, valuing the company at $2.25 billion. Progress and Future Roadmap

Expansion and Rebranding: 1inch has been expanding by creating multiple teams, protocols, and chains. Their rebranding to 1inch Network indicates a continuous expansion and development of the project.

Interoperable Components: The 1inch Network comprises multiple components like the 1inch Aggregation Protocol, 1inch Liquidity Protocol, 1inch DAO, 1inch Labs, and the 1inch Foundation, all working interoperably for innovation and technical improvements.

Continued Growth: The rebranding and recent expansions, including integration with Binance Smart Chain and new partnerships, suggest ongoing growth and development for the 1inch Network. New protocols and team evaluations for further additions are in the pipeline.

Upcoming Token Unlocks: There are scheduled token unlocks in the coming months, which are part of the 1inch Network’s ongoing activities and developments. The progress of 1inch demonstrates a steady growth trajectory with continuous enhancements and expansions, indicating a promising future roadmap in the decentralized finance ecosystem.

7)List all important links related to 1inch

Here is a list of important links related to 1inch, including their official website, DeFi wallet, various tools and protocols, documentation, and social media channels: Official Website and Tools

Official Website:1inch.io

1inch DeFi Wallet: Available on Apple App Store and Google Play Store

dApp: A tool for accessing deep liquidity and best exchange rates app.1inch.io

Aggregation Protocol: An aggregator of liquidity from multiple DEXes 1inch Aggregation Protocol

Limit Order Protocol: Innovative and flexible limit order functionality 1inch Limit Order Protocol

Liquidity Protocol: A next-generation AMM offering capital efficiency 1inch Liquidity Protocol

Fusion Mode: Enables token swaps on DEXes without network fees 1inch Fusion Mode

1inch RabbitHole: Protects MetaMask users from sandwich attacks 1inch RabbitHole

Docs: In-depth insights into how the 1inch Network works docs.1inch.io

API: Interface for non-custodial asset swaps 1inch API

Grants: Program fostering the growth of the 1inch Network 1inch Grants

GitHub: Detailed repositories of 1inch code 1inch GitHub

DAO: Governance of the 1inch Network 1inch DAO

Token: Information about the governance and utility token 1inch Token Social Media Links

Medium:1inch Network on Medium

LinkedIn:1inch Network on LinkedIn

Reddit:1inch Network on Reddit

Facebook:1inch Network on Facebook

YouTube:1inch Network on YouTube

Instagram:1inch Network on Instagram

Telegram:1inch Network on Telegram

Twitter:

1inch Network

1inch DAO

1inch Wallet These links provide comprehensive information and resources about 1inch, its protocols, tools, and the latest updates from their social media channels.

8)Bullishness index for this token from the perspective of token valuation and future potential

The valuation and future prospects of the 1INCH token, as predicted by various experts, can be summarized as follows: Current Valuation

As of the latest data, the price of 1inch Network (1INCH) is approximately $0.34, with a market cap of around 1,041,465,533 1INCH tokens. It ranks No. 120 in the crypto ecosystem. The price has shown an upward trend in recent times, increasing by 4.93% over the last week and 19.73% over the last month. Future Price Predictions

2023: Estimates for 2023 suggest a minimum price of $0.3557 and a maximum of $0.3906 for 1INCH. The average trading price is expected to be around $0.3730.

2024: Predictions for 2024 show a possible minimum price of $0.5179 and a maximum of $0.6176, with an average trading price of $0.5365.

2026 to 2032: In the longer term, projections for 2026 indicate a potential minimum price of $1.12 and a maximum of $1.30, averaging around $1.16. This trend is expected to continue, with predictions for 2030 showing a maximum price of $6.13 and an average of $5.40. By 2032, the price could reach a maximum of $13.06, averaging around $10.76. Expert Analyses

Varied Expert Predictions: Different experts have varied predictions for the future of 1INCH. Changelly, for instance, expects a peak price of around $0.62 in 2024, while CryptoNewsZ speculates a range between $0.49 and $1.18 for 2023. AMBCrypto estimates a 2023 price range of $0.4 to $0.61, and Coinpedia projects that 1INCH could reach at least $1.11 by 2026.

Investment Perspective: From an investment standpoint, 1inch Network is considered a moderately risky investment. It’s deemed worth buying due to its strong use case, tokenomics, active community, and competent team.

Factors Influencing Success and Failure: The success of 1inch Network is attributed to its good use case, well-designed tokenomics, active community, and solid team. Conversely, potential reasons for failure include team abandonment, regulatory issues, lack of media attention, more successful competitors, inadequate marketing strategies, and vulnerabilities in the protocol.

Long-Term Potential: There is potential for significant price growth in the distant future, with forecasts suggesting 1inch Network could reach $4.39 and possibly even $100 after 2030. Conclusion The future prospects of 1INCH appear promising, with expectations of steady growth in its valuation. The predictions highlight the potential for substantial long-term gains, but like all cryptocurrencies, 1INCH presents a risk, and its success depends on various factors, including market trends, technological developments, and the broader crypto ecosystem’s health. Investors should consider these factors and conduct thorough research before making investment decisions.