1inch Network

Halal Rating :
Questionable
Last Price $0.40 Last updated:
Rank 146
1D Change 1.64 %
Market Cap $462.98m
Circulating supply 1,158,540,463
Maximum supply None

Crypto Overview

Categories
  • Decentralized Exchange (DEX) Token
  • DeFi
  • Wallet
  • AMM
  • Binance Labs Portfolio
  • Blockchain Capital Portfolio
  • DragonFly Capital Portfolio
  • Fabric Ventures Portfolio
  • Alameda Research Portfolio
  • ParaFi Capital
  • Spartan Group
  • BNB Chain

What is 1inch Network?
1inch Network is a decentralized exchange (DEX) aggregator to help users discover the best trade prices for tokens. Instead of swapping tokens from a single liquidity pool of a DEX, 1inch will aggregate across different pools and suggest the most efficient way to trade tokens.
Why use 1inch?
If you are a trader trading large amount of tokens, you may not be aware of all the availability liquidity across different DEXes in order to get the best price quote. Price quote offered by DEX fluctuates according to the liquidity pool at any given time. Also, when you are trading large size, every percentage of savings can be magnified with an optimal trading path. 1inch aims to solve all that in a single user friendly interface.
What is Pathfinder?
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.
Who are the creators of 1inch?
1inch was founded by Sergej Kunz and Anton Bukov. The idea for 1inch was developed at a hackathon in just over 60 hours at New York City. Fast forward today, it is one of the fastest growing DeFi product.

Crypto Impact

To assign a comfort level investing in 1inch Network from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to 1inch Network.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

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Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

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Justification for our Halal Rating