The 1inch Network unites decentralized protocols whose synergy enables the most lucrative, fastest and protected operations in the DeFi space. 1INCH is the 1inch Network’s native ERC-20 governance and utility token that is used to govern all 1inch protocols.
The 1INCH token enables protocol governance, allowing 1INCH stakers to vote for and receive rewards. The token is applied in different capacities in the existing protocols and will be used in the tokenomics of all new protocols released by the 1inch Network. 1INCH is a multichain token, currently available on Ethereum and Binance Smart Chain (BSC) over a bridge.
One of the key instant governance features is that 1INCH token stakers can constantly and dynamically vote to change protocols’ settings, without having to wait for proposals to be submitted or concluded.
Currently, the main application of 1INCH as a utility token is in the 1inch Liquidity Protocol where it is used as a connector to achieve high-efficiency routing.
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