A little acquaintance with 1inch
In fact, 1inch is an aggregator of the liquidity of both centralized and decentralized crypto exchanges. It runs on the Ethereum blockchain, and also supports other protocols. It is built with the help of decentralized applications that are integrated into a common ecosystem.
There are three protocols at the core:
- Liquid protocol. It is a system of providing and mining liquidity with the help of an automated market maker. When filling the pool, users are awarded 1inch tokens as a reward.
- Aggregation protocol. Delivers liquidity from crypto exchanges, increasing the overall liquidity indicators in the ecosystem. Pathfinder technology is involved here, which allows you to find the best quotes in a second. It also provides a reduction in commissions.
- The protocol of limit orders. It is a tool that allows you to work with the exchange. Here you can conduct transactions with auctions.
The project is managed by DAO, a decentralized autonomous organization. This means that each 1inch token holder can participate in the voting regarding changes in the protocols. Also, the user will be awarded an additional reward for management.
1inch developer portal
The platform decided to provide developers with access to software solutions. According to the team, they will be the fastest, most advanced and easiest to operate.
The portal will be a Web 3.0 cloud platform of the SaaS—software-as-a-service type. Innovative APIs will be provided here so that developers can create new products.
One of the founders of 1inch, Sergey Kutz, stated that the main goal is to provide programmers with fast and effective software solutions for Web 3.0 products. The main offer is the building blocks of Web 3. They will help to save time, money and effort. These solutions have been thoroughly tested for 4 years.
Advantages of the portal
The project team gives several reasons why it is worth using the portal:
- Only proven solutions. Those that will be offered on the portal have already been fully tested in 1inch products.
- High reliability. Some major players have already integrated the 1inch API. The team cites companies like MetaMask. Prime Wallet and Ledger.
- High availability. The project team claims that the system works 99% flawlessly.
- There are almost no delays. The API is provided to users fairly quickly. The response speed is the best on the market.
- Good data organization. Information panels are provided for quick search of the necessary information.
- User-friendly interface. Users will quickly be able to find up-to-date documentation, advanced query statistics and other 1inch data.
This is only part of the advantages that are listed in the blog of the official 1inch platform.
Plans and pricing
The platform is provided both for free and for a fee. The latter is a corporate subscription plan that will have an increased number of requests per second. It focuses on increased flexibility.
Here you can configure the parameters for the specific needs of the project. Thanks to this, it will suit both established sites and startups.
The free plan is provided for non-commercial purposes. Developers can use it to test the functionality of the portal and create prototypes of their ideas.
In the future, they want to expand the pricing to a professional and business plan. They will provide higher rates of requests per second.
