#1inch is a decentralized exchange (DEX) aggregator and automated market maker (AMM) that operates on the Ethereum blockchain. It was founded in 2019 by Anton Bukov, Sergej Kunz, and Mikhail Melnik.

The platform allows users to discover the most efficient trading paths across various DEXs, finding the best prices for their trades. It essentially aggregates liquidity from different DEXs to provide optimal trade execution for users.

1inch employs a Pathfinder algorithm to split orders across different liquidity pools, ultimately reducing slippage and maximizing the user's returns.

The native utility token of the 1inch platform is called 1INCH. Holders of this token can participate in the platform's governance and decision-making processes.

The project gained popularity due to its innovative approach to optimizing trades in the decentralized finance (DeFi) space, attracting a significant user base seeking efficient and cost-effective trading solutions in the decentralized ecosystem.$1INCH