1inch (1INCH)

Token Swaps and Aggregation

1inch helps users find the best prices for swapping tokens by searching across many decentralized exchanges. This means you get the best deal with low fees and fast execution.

Limit Orders and Trading Tools

The 1inch Limit Order Protocol allows users to set advanced orders like stop-loss and trailing stop orders. It also supports auctions and other flexible trading options.

Cross-Chain Swaps

With 1inch Fusion and Fusion+, users can swap tokens across different blockchains securely and without paying gas fees, while keeping full control of their assets.

Liquidity Provision

Users can provide liquidity to pools through 1inch, helping the network and earning rewards.

Developer APIs

1inch offers APIs for transaction history, balance info, push notifications, and airdrops, enabling developers to build new tools and services.

Payment Solutions

The 1inch Card lets users spend crypto easily anywhere Mastercard is accepted, including online and in stores with Apple Pay or Google Pay.

Multisig Wallets

1inch supports multisig wallets, which require multiple signatures for transactions, making shared asset management more secure and reliable.

Pros

• Highly efficient trade execution with minimal slippage, meaning you get better prices.
• Aggregates liquidity and prices from multiple blockchains and decentralized exchanges (DEXs).
• Non-custodial platform, so you keep control of your crypto assets.
• Supports advanced trading features like limit orders.
• Offers governance and staking rewards through the 1INCH token.
• User-friendly interface and mobile app.
• Good security track record with regular audits.
• Supports multiple popular blockchain networks.

Cons

• No direct fiat-to-crypto purchases on the platform; buying crypto requires third-party services.
• Gas fees on networks like Ethereum can be high, affecting transaction costs.
• May feel complex for beginners new to decentralized finance (DeFi).
• Some fees can be higher compared to centralized exchanges.
• 1inch Card is virtual-only, with daily spending limits and lower cashback compared to some competitors.

For more details, visit the official 1inch website.

Founders of 1inch

1inch was co-founded by Sergej Kunz and Anton Bukov. Sergej Kunz serves as the CEO, and Anton Bukov is the CTO. They started 1inch during the ETHGlobal hackathon in 2019, creating a platform that helps users find the best prices across different crypto exchanges.

Institutional Investors

1inch has received funding from many institutional investors including Amber Group (lead investor in the latest round), Pantera Capital, ParaFi Capital, Nima Capital, Binance Labs, Galaxy Digital, Greenfield One, Libertus Capital, Dragonfly Capital, FTX, IOSG, LAUNCHub Ventures, Spark Capital, gumi Cryptos, Fabric Ventures, Struck Capital, Rockaway Blockchain Fund, Spartan Group, Blockchain Capital, Jane Street, VanEck, Fenbushi Capital, Alameda Research, Celsius, Nexo, Tribe Capital, and Gemini Frontier Fund.

Venture Capital Firms

Some notable venture capital investors are Big Candle Capital, Cloud3 Ventures, CTC Venture Capital, Kommune, Mirana Ventures, FinTech Collective, and Rockaway Blockchain Fund.

Angel Investors

Angel investors include Loi Luu (founder of Kyber Network), Josh Hannah, Kain Warwick, Alexander Pack, and Illia Polosukhin (co-founder of NEAR Protocol).

Summary

1inch has a broad base of about 50-65 investors, including top institutional investors, venture capital firms, and angel investors supporting its growth and development in decentralized finance.

Halal Status of 1inch

• General Ruling: No, 1inch is generally considered not halal by many Islamic finance scholars.
• Reason: Although 1inch operates as a decentralized exchange aggregator and generates revenue through trading fees (which is halal), its involvement with some DeFi protocols and yield farming practices that are not Shariah compliant leads to it being classified as haram by some experts.
• Community Views: Some Muslim crypto communities and Shariah screening services have assessed 1inch and concluded it does not fully meet Islamic finance principles.

For more detailed guidance, consulting a qualified Islamic finance scholar is recommended.