![]() The airdrop was served to all those who had used the platform to make at least 4 trades or had traded at least $20. Along with the listing, the protocol also airdropped tokens to all those traders who had used the platform before September 15th. After this, the token had another sharp drop all the way down to $1.8, where it seems to have found some stability, trading sideways between that level and $2.5 as key resistance. This rise of more than 1000% was undoubtedly the topic of conversation for DeFi fans during Christmas.Įven CZ himself was surprised, tweeting an amusing pun:ĭamn, that looks a bit longer than 1Inch… □ /o1NRAFnhhcĪfter this major spike, the token experienced a correction, dropping to a low of $2.2 before a new rebound up to $2.9. When the token trading started, it went up by 1200%: from $0.2 to $2.60, and the daily trading volume exceeded $ 106 million. The tweet received more than 700 likes in a few hours, spreading through many corners all over Crypto Twitter. 1inch: From ‘Meh’ to ‘Moon’ in Just 1 Hourĭuring the Christmas of 2020, Binance surprised the community with the announcement of support for 1inch. The reason? a 1000% spike after being listed in Binance. Still, it wasn’t until Christmas of 2020 that it started to ring the bell for serious traders and crypto enthusiasts. 1inch has been in development since 2019 and has received funding from Binance Labs, Galaxy Digital, Greenfield One, Libertus Capital, Dragonfly Capital, FTX, IOSG, LAUNCHub Ventures, and Divergence Ventures. User’s st1INCH tokens cannot be unstaked/withdrawn without penalty until the designated lock period expires.Yield farmers and DeFi token aficionados certainly had a merry Christmas thanks to 1inch, a relatively young and unknown token that in a matter of hours surpassed many other cryptocurrencies’ performance in the top 100 of cryptocurrencies with the largest market capitalization.ġinch is a decentralized exchange aggregator that sources liquidity from various exchanges, making it possible to use its smart contract to spread a single transaction across multiple decentralized exchanges. When staking, there is the option to set a custom or preset lock period. With the 1inch Fusion, users can stake 1INCH tokens to receive Unicorn Power (UP), then subsequently delegate their UP to any 1inch Fusion Resolver to start receiving rewards from them. Also, holders can choose resolvers and earn a part of their fees. 1INCH holders can stake their tokens to participate in the 1inch Network’s DAO governance, including the 1inch DAO Treasury management. The 1INCH token, launched in December 2020, is the governance and utility token of the 1inch Network. ![]() ![]() Among about 50 investors that participated in the funding event are Jane Street, VanEck, Fenbushi Capital, Alameda Research, Celsius, Nexo, Tribe Capital and Gemini Frontier Fund. In December 2021, 1inch has closed a $175 million Series B round, led by Amber Group. The funding round was conducted through a SAFT (simple agreement for future tokens) sale. In December 2020, 1inch raised $12 million in Series A funding, led by Pantera Capital, with others including ParaFi Capital, Blockchain Capital, Nima Capital, and Spartan Group. In August 2020, 1inch got a $2.8 million funding raise from Binance Labs, Galaxy Digital, Greenfield One, Libertus Capital, Dragonfly Capital, FTX, IOSG, LAUNCHub Ventures, and Divergence Ventures. ![]() Since then, the 1inch Network has developed additional DeFi tools such as the Liquidity Protocol, the Limit Order Protocol, P2P transactions, and the 1inch Wallet app. The 1inch Network was launched at the ETHGlobal New York hackathon in May 2019 with the release of its Aggregation Protocol v1. Smart contract technology empowers this aggregator enabling users to optimize and customize their trades. 1inch is a decentralized exchange (DEX) aggregator that sources liquidity from various exchanges and is capable of splitting a single trade transaction across multiple DEXes.
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