DeFi Christmas: DEX Aggregator 1inch Launches Governance Token to Take On Uni...
The token, named 1INCH and running on Ethereum, will be distributed to all wallets that have previously interacted with the platform.
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The 1INCH tokens will govern both the platform's automated market maker protocol and its DEX aggregator. The team behind the DeFi platform 1inch is releasing a governance and utility token, according to a Dec. 25 announcement. The 1INCH token will be used for both the platform’s automated market maker protocol and its decentralized exchange aggregator service.The “Aggregation Protocol” governance module will allow stakers to vote on the distribution of Spread Surplus coins. These are created when the final rate for a transaction undertaken through the aggregator service is greater than....
One serial DeFi user now controls around 11% of 1INCH token supply following the exchange's governance token distribution event. On Christmas day, decentralized exchange aggregator service 1inch has released its governance and utility token. As part of the launch, the platform airdropped 90 million 1INCH tokens to users who had previously traded on the exchange.According to data from on-chain analytics provider Dune, the highest recipient of the free token distribution received 9,749,686.003 tokens that were worth about $27.5 million at the peak price of $2.8 per token. An examination of....
The 1inch Network’s governance framework will have many of the hallmarks of Ethereum-based projects in a move that prioritizes user experience and broader network participation. 1inch Foundation, the non-profit arm of the 1inch decentralized exchange aggregator, has introduced important changes to its governance framework intended to streamline the proposal process. On Wednesday, the Foundation announced the creation of the 1inch Network Governance, which complements the “instant governance” framework the protocol launched back in December 2020. Instant governance gave 1inch token stakers....
A series of protocol upgrades and new liquidity integrations prove that 1INCH is aiming to increase its DeFi and DEX aggregator market share. As the decentralized finance (DeFi) ecosystem evolves and expands to encompass the whole of the cryptocurrency sector, the race to become the top decentralized exchange (DEX) aggregator is heating up as new entrants to the field seem to emerge on a weekly basis. One of the top DEX aggregators that has recently seen its price reach a new record high is 1Inch (1INCH), a protocol which offers “access to the most liquidity, lowest slippage and best....
The total value locked at 1inch is closing in on $1 billion and the decentralized exchange aggregator has processed nearly $6 billion this month. This week the total value locked in DeFi platforms reached a new high at $26.2 billion and this record high was achieved even as Bitcoin price appeared to be slipping into a downtrend.This asymmetrical performance from DeFi-tokens suggests the sector has staying power and the ecosystem built up around DeFi platforms is likely to have a far reaching impact that may even alter the way traditional finance operates. As DeFi protocols gain traction,....