1inch is a decentralized exchange aggregator, which routes exchanges with a proprietary protocol Pathfinder to find the optimal rates from 240 integrated liquidity sources. The aggregator is said to be non-custodial, so users and liquidity providers can connect with it without risking the loss of their funds.
The 1inch protocol was initially designed by Sergej Kunz and Anton Bukov for the 2019 ETHGlobal hackathon. Since then, it has been employed across several other networks: Binance Smart Chain, Solana, and Avalanche, to name a few. In late 2020, 1INCH tokens were retroactively airdropped to all users of the 1inch protocol who met specific criteria.
These days, you can earn 1INCH by participating in various incentives and liquidity mining programs. You can use them to boost your profits on 1inch, as well as participate in steering the protocol’s development by voting on proposals.