1. Project introduction

The 1inch Network is a collection of strong and composable DeFi instruments, which together enable both veteran and new DeFi users to maximize the financial opportunity of Web3 with clean UX and secure contracts. It consists of 5 distinct yet interoperable components:

(1) The 1inch Aggregation Protocol facilitates cost-efficient and secure atomic transactions by utilizing a wide range of protocols and performing argument validation and execution verification.

(2) The 1inch Liquidity Protocol is a next-generation automated market maker that protects users from front-running attacks and offers capital efficiency to liquidity providers.

(3) The 1inch Network is governed by the 1inch DAO, a decentralized autonomous organization that enables 1INCH stakers to vote for key protocol parameters and take part in the network’s governance.

(4) A key contributor to the 1inch Network is 1inch Labs, a decentralized group of software builders that develop a range of open-source protocols governed by users through the 1inch DAO.

(5) The 1inch Foundation is a non-profit organization that issued the 1INCH token and is dedicated to fostering the 1inch Network and initiatives that benefit the network’s community. The 1inch Foundation incentivizes contributions through grants and other capital deployment vehicles.

2. Team introduction

Co-founder: Anton Bukov

Linkedin: https://www.linkedin.com/in/k06aa/

Co-founder: Sergej Kunz

Linkedin: https://www.linkedin.com/in/deacix/

3. Investment institution

Binance Labs, Galaxy Digital, Greenfield One, Libertus Capital, Dragonfly Capital, FTX, IOSG, LAUNCHub Ventures, Divergence Ventures, Loi Luu ( the Founder of Kyber Network), Illia Polosukhin ( the Co-Founder of NEAR Protocol)

4. Application and distribution

Total supply: 1,500,000,000

Token application:

(1) utility token: as a connector to achieve high-efficiency routing.

(2) governance: used in governance modules of the 1inch Aggregation Protocol and the 1inch Liquidity Protocol.

Token distribution:

Backers 1: 18.5%

Backers 2: 12.2%

Small backers: 2.3%

Network growth fund: 14.5%

Community incentives: 30.0%

Core contributors: 22.5%