What is 1inch?
1inch is a leading DeFi project empowering Web3 users with technological innovations. 1inch provides access to hundreds of liquidity sources across multiple blockchains. Its main components are the 1inch Aggregation Protocol, the 1inch Liquidity Protocol, the 1inch Limit Order Protocol and the 1inch Wallet – a fast and secure mobile application for storing, receiving, sending and swapping crypto assets.
The 1INCH token was released in December 2020 by the 1inch Foundation. It is 1inch's governance and utility token. 1INCH holders can stake their tokens to participate in 1inch's DAO governance. Following the Fusion upgrade in December 2022, users can stake 1INCH tokens to receive Unicorn Power (UP) and delegate their UP to any 1inch Fusion resolver in exchange for rewards.