1Inch is a decentralized exchange (DEX) aggregator and automated market maker (AMM) that links numerous DEXs into a single platform to let consumers locate the most effective switching routes across all platforms. In order to make sure that its customers are getting the best rates, a DEX aggregator searches a small number of decentralized exchanges for the lowest costs and reroutes their trades between them. 2020's Christmas Day saw the release of 1inch's own cryptocurrency, the 1INCH token. The Ethereum cryptocurrency 1INCH powers the decentralized exchange. As a "governance token," 1INCH allows you to cast your vote on how the 1inch platform is run. This was dubbed "instant governance" by 1inch. At the conclusion of 2020, 1inch airdropped a sizable number of tokens. By contributing funds to 1inch's own liquidity mechanism (previously known as Mooniswap), or if you used it before December 24, 2020, you could obtain 1inch tokens. By contributing liquidity to 1inch's liquidity network, you can primarily earn 1INCH tokens. This entails staking digital assets that other users can use to execute trades. Other cryptocurrencies can also be earned in this manner. A number of significant cryptocurrency exchanges, as well as 1inch's own exchange, support 1INCH coin.
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