Uniswap Vs. 1inchTwitter

What is 1inch?

Named after the legendary Bruce Lee punch, 1inch is a decentralized crypto exchange aggregator that connects several exchanges into one platform.

DeFi is still a relatively new industry and because of this, the prices of altcoins swing wildly across different DEXes. For example, buying Ethereum on Uniswap might cost more than it would on Bancor or Kyber.

1inch eliminates this possibility of price swings with the power of smart contracts. These contracts automagically complete your transaction through the cheapest exchange or split your order into smaller ones to reduce fees.

Every little bit adds up, and this is doubly so in Ethereum’s high-gas ecosystem. 1inch will even show you how much you saved after every transaction.

Users exchanging their tokens are primarily looking for the best prices, and this is what the 1inch Network can offer them, thanks to the 1inch Aggregation Protocol and the aggregation service Pathfinder, which splits swap deals across multiple DEXes. —
1inch Network

Besides working with the Ethereum blockchain, 1inch also works with the Binance Smart Chain. This means you can pick up PancakeSwap or BNB from 1inch.

Why I’m Bullish on 1inch

On Christmas day 2020, thousands of 1inch users received an airdropped supply of 1inch tokens. These tokens established governance for users and enabled the network to vote on the way that the 1inch platform is run.

While U.S. Congress was arguing over stimulus checks the 1inch network was stuffing Christmas stockings and creating a government of their own.

These were the requirements for the drop —

- One trade on 1inch before September 15

- Four trades in total

- Trades of at least $20 in value

1inch’s governance protocols are so intuitive my grandma could use them. In fact, their UI in general is one of the sleekest and sexiest in the DeFi space. All of this combined with the number of features they offer makes them a tour de force.

At the time of writing, 1inch is trading at $6.94 and is up more than 500% on the year. 1inch is currently the 101st largest cryptocurrency by market cap, boasting a value of $1,081,277,077 billion.

More Than 281% APY By Staking

The main way to earn 1inch tokens is by providing tokens to 1inch’s own liquidity protocol Mooniswap.

Demand for tokens like Opium, CHI and VSP are so high that you actually receive more than 100% APY for locking them up on 1inch. I’ve seen interest rates as high as 281%.

As with any DeFi investment — that isn’t insured by the FDIC — only stake what you can lose should the network suffer a hack.

What The Future Holds

As I recently wrote, the future of DeFi is determined by protocols that make the industry simple and more efficient to use. 1inch does both of these things effortlessly.

Although much of DeFi is firing on all cylinders right now, this is a battle royale that will end in bloodshed. As mainstream crypto adoption continues the dichotomy between great protocols and not-so-great ones will widen substantially.

Most applications will enjoy massive returns in the intermediate, but if you’re a hodler like me then you’ll want to invest in the best protocols now and forever. 1inch is solidifying itself as a major player in DeFi, and I don’t see that changing anytime soon.

Ever since I was a child it was my dream to become a financial advisor. Unfortunately, it never came true. Therefore I am not a financial advisor and you should do your own research and not just listen to random people on the internet. Nothing contained in this publication should be construed as investment advice.

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