1inch.Exchange — Quick take
While 2020 proved a tough year for the financial sector, the decentralized finance (DeFi) market has had a prosperous year. Traders across the world ventured into this alternative financial industry to benefit from the ever-increasing market volatility.
Besides the increase in fund flow, 2020 was also marked with a range of new and exciting trading innovations. DEX aggregators is such an example. DEX aggregators solve a simple problem well known in the traditional financial markets, called “best execution”. Through “best execution” financial transactions are automatically routed to deliver best price / liquidity for the trader or investor. DEX aggregators try to solve this problem in the DeFi markets aggregating several DEX providers (e.g. from SuhiSwap, Uniswap) and of the trader / investor a single access interface to several DEXs.
A promising project in the aggregator space is 1Inch Exchange. 1inch Exchange was founded in 2019 by Sergei Kunz and Anton Bukov. 1inch Exchange aims to offer the best rates for the users by discovering the most efficient swapping routes from leading DEX providers. As result, users don’t need to check multiple exchanges concurrently to verify if they are getting the best rate. The platform aims to address the drawbacks in the DEX market place such as expensive transaction cancellation as well as high slippage that originate from thin order…
