What is the use of 1inch coin?

As the native token of 1inch DEX, the uses of 1inch coin include: governance, incentivizing traders and liquidity providers, paying transaction fee discounts, staking and supporting ecosystem development.

Use of 1inch Coin

1inch Coin is a native token used in 1inch DEX (Decentralized Exchange) . It has the following uses:

Governance:

• 1inch coin holders can vote on the future of the platform through the governance voting system.

Incentives:

• Traders can receive 1inch coin rewards when using 1inch DEX, which helps incentivize participation on the platform.
• Liquidity providers who deposit their assets into 1inch’s liquidity pool can also receive 1inch coin rewards.

Fee Discount:

• Using 1inch coins to pay transaction fees can get discounts, thereby reducing transaction costs.

Staking:

• 1inch coins can be pledged to the 1inch Staking pool to obtain additional income and rewards.

Ecosystem Support:

• 1inch coins are used to support the development of the 1inch ecosystem, including decentralized lending, yield farming, and other Dapps .

Token Economics:

The total supply of 1inch is 1.5 billion. Tokens are allocated as follows:

• Community: 60%
• Team: 15%
• Investors: 15%
• Ecosystem: 10%

Summary:

1inch Coin is a multi-purpose token used to incentivize platform users, provide governance rights and support the expansion of the 1inch ecosystem.

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