1inch

1inch is a decentralized finance protocol that operates as a decentralized exchange (DEX) aggregator and multi-chain liquidity network. It sources liquidity from multiple DEXs and liquidity protocols to present users with favorable exchange rates and reduced slippage by routing trades across several venues.

The core technology behind 1inch is its Smart-Order Router and pathfinding algorithm. These components search across available liquidity sources on a given chain to determine the most efficient trading path. The router can split a single order into multiple trades across different DEXs and pools to optimize price, fees, and execution risk.

1inch also deploys a native governance token, 1INCH, an ERC-20 token used to participate in protocol governance and staking-related incentives. The project is governed by the 1inch DAO, which makes decisions about protocol upgrades, treasury management, and parameter changes. The network has expanded beyond a single chain to operate on multiple blockchains through the 1inch Network.

In addition to the core exchange aggregator, 1inch offers the Limit Order Protocol, which enables users to place and fill limit orders across supported DEXs. This feature aims to provide more control over price conditions and execution times, complementing the on-chain liquidity aggregation.

Supported networks include Ethereum and other major chains such as Binance Smart Chain, Polygon, Optimism, Arbitrum, and Avalanche, with ongoing efforts to broaden cross-chain reach. 1inch is a notable example of an aggregator that seeks to improve price discovery and execution quality for decentralized trading.