1inch to Pass Full Stack Decentralization on October 1st

1inch has announced a move towards full stack decentralization. The transition is set to commence on October 1st.

Refer to the official tweet by 1INCH:

1INCH Info

1inch Network is a decentralized exchange (DEX) aggregator to help users discover the best trade prices for tokens.

The 1inch protocol utilizes a unique algorithm that processes and optimizes thousands of trades in real-time, allowing users to save on fees and obtain the best possible exchange rates.

Pathfinder is the discovery and routing algorithm developed by the 1inch team. It is the algorithm the powers the backend to finding the most efficient route to swap a token. For example, if a user wants to sell ETH for WBTC, Pathfinder will explore all DEXes such as Uniswap, Curve, Balancer, DODO, Sushiswap, and more. The result is a recommended route that optimizes fees and liquidity in order to give users the best rate. Users no longer need to check each individual services in order to find the best price.

1inch has launched its native 1INCH token, which is used for voting within DAO governance and providing liquidity.