Value in 1INCH token. Is it worth investing in 2021?

“Do not focus on money, instead focus on a problem that needs to be solved for the world..money will follow you as a bi-product.”
― Manoj Arora, From the Rat Race to Financial Freedom

What is 1inch?

1inch is Defi/DEX(decentralized finance/decentralized exchange) aggregator, running on Ethereum and Binance chain. Founded by Sergej Kunz and Anton Bukov during ETHNewYork’s hackathon 2019.

1inch has been backed by companies such as Binance Labs, Galaxy Digital, and Pantera Capital, raising about $15 Million in funding. As of May 2021, 1inch has successfully surpassed $35 Billion in total trading volume on the Ethereum network.

Fault in other DEXs

DEXs like Uniswap, Oasis, Kyber Network, and Ox also provide trading cryptocurrencies. But all of these exchanges have differed from each other in structure and sell cryptocurrency at different prices, creating an arbitrage opportunity. Thus a cryptocurrency might sell for a different amount on different exchanges at a given time and on top of this those exchanges may charge different fees on the transaction.

For a trader who is looking to trade at cheapest price possible without being charged a heavy fees, he would have to manually scrape the prices and fees structure every time from all the exchanges available. This is both time consuming and a complex task to execute.

How does 1inch bring value to its customers?

Assume you have to buy some TRX using Ethereum on decentralized exchanges. You already looked at different DEXs and found that prices vary, as do the fees.

This is where 1inch’s algorithm comes into play, finding the cheapest way to place the trade using all the different exchanges and liquidity protocols that can facilitate this trade.

To place your trade, 1inch’s algorithm may involve swapping your Ethereum between several different protocols and for several different currencies before it arrives at TRX. This way you will get your trade executed faster and cheaper.

1inch’s team is consistently making the platform execute trades as fast and cheap as possible. The V2 andV3 launch of 1inch is proof of their commitment towards their goal.

Why investing in 1inch now?

1inch token has seen huge accumulation in the past few months and has finally given a breakout which may cause it to rally and make people go nuts over the missed opportunity .