What Is 1inch? The DEX Aggregator, Its Swap Modes and the 1INCH Token

What 1inch is, and who stands behind it

1inch is better described as a router than an exchange. It holds no order book of its own. Instead it splits and routes your trade through other DEXs and liquidity sources, then executes it through 1inch smart contracts.

The project began on May 19, 2019, when Sergej Kunz and Anton Bukov built the first version of the aggregation protocol at an ETHGlobal hackathon in New York. The 1inch app went live later that year (1inch blog).

"1inch" covers three separate layers:

• The interface and apps. These are operated by Degensoft Ltd., c/o Walkers Corporate (BVI) Limited, 171 Main Street, Road Town, Tortola, British Virgin Islands (1inch Terms of Use, updated August 18, 2026). The 1inch.com footer also reads "Built by Degensoft."
• The 1inch Network protocols. These are the on-chain contracts for aggregation, limit orders, Fusion and cross-chain swaps. 1inch describes them as governed by the 1inch DAO.
• The 1INCH token. This is used for DAO governance and for staking by resolvers (see below).

Neither the About page nor the terms disclose employee numbers or a headquarters office.

How 1inch finds a price: three swap modes

1inch offers three ways to execute a swap, and they differ in who pays gas and who takes execution risk. Comparing aggregators such as 1inch and Matcha mostly comes down to these execution details rather than the token list.

Classic swap (aggregation routing)

In the classic mode, 1inch's routing algorithm checks prices across connected DEX pools and may split one order across several of them. You sign and submit the transaction yourself and pay the network gas fee. If the price moves beyond your slippage setting, the transaction can revert, and the gas is still spent. The background on pool pricing is in OBOL's guide to how AMMs work.

Fusion (intent-based, gasless for the user)

In Fusion mode you sign an order rather than a transaction. Professional market makers called resolvers then compete to fill it in a Dutch auction. The quoted rate starts high and steps down over time until a resolver fills the order, the rate reaches your minimum, or the order expires. Resolvers pay the gas, so you don't need the chain's native token, and an expired or unfilled order costs you nothing. You still have to approve the token (or sign a permit) once.

According to 1inch's help center, only approved resolvers that stake 1INCH can fill Fusion orders, and large orders may be partially filled. 1inch says the design shields users from front-running and sandwich attacks. For context on those attacks, see MEV explained.

Cross-chain swaps (Fusion+)

Fusion+ swaps a token on one chain for a token on another without a wrapped intermediary. The winning resolver locks your tokens in an escrow on the source chain and its own tokens in an escrow on the destination chain. Both escrows are tied to the same secret hash. Once both sides are verified, the secret is revealed and each side can claim its funds. If a participant stops responding, anyone can cancel after the timelock expires and the assets return to their owners (1inch help center).

Two practical points: 1inch says most cross-chain swaps finish in under five minutes, and it warns users not to close the browser tab after submitting, because that can cancel the order. Broader trade-offs of moving value between chains are covered in OBOL's cross-chain bridging guide.

Products beyond the swap screen

• Limit orders. Orders that execute only at your chosen price, built on the 1inch Limit Order Protocol.
• 1inch Wallet. A self-custody mobile wallet. 1inch cannot recover a lost seed phrase.
• Portfolio. A dashboard for tracking wallet balances and positions across chains.
• Aqua. A liquidity feature in which your tokens stay in your wallet under a revocable allowance, and swaps against that liquidity may carry a DAO-set protocol fee.
• 1inch Business. Swap, orderbook and other APIs for developers. Plans range from a free prototyping tier to enterprise agreements.
• 1inch Card. A payment card provided by a third party, with its own support channel ([email protected]).

What a 1inch swap costs

Using the 1inch interface itself is free as of October 2026. 1inch's terms say it may introduce interface fees later and would show them in the product. A swap's real cost comes from several other places:

The number to compare is the minimum amount received shown before you sign, not the headline price.

Where 1inch works and who can use it

As of October 2026, 1inch says it supports "18+ chains." Its homepage names Ethereum, BNB Chain, Polygon, Optimism, Arbitrum, Gnosis, Avalanche, zkSync Era, Base, Linea, Unichain, Sonic, Solana, Robinhood Chain, Monad, Cronos and HyperEVM. Each swap mode may support a different set of networks.

The swap interface needs no account and no identity verification: you connect a wallet. The terms exclude sanctioned persons and anyone linked to "Prohibited Localities," and they forbid using a VPN to get around those limits. If a wallet is blocked in error, the terms direct users to [email protected].

Security: contracts, approvals and incident history

1inch does not custody funds, so security comes down to the contracts you approve and the wallet you sign with.

• Audits. 1inch's public audit repository on GitHub holds reports for the aggregation, limit order, Fusion, cross-chain, Aqua and Solana contracts. The auditors include OpenZeppelin, ChainSecurity, Consensys Diligence, Certora, Hacken and others. An audit covers a specific code version, not every future deployment.
• Non-upgradeable contracts. 1inch's security page states that its core contracts cannot be upgraded, so no admin key can change their logic after deployment. It also claims ISO 27001 and SOC 2 certification for the company.
• March 2025 resolver incident. On March 5, 2025, an attacker exploited resolver contracts that still used the obsolete Fusion v1 settlement contract. 1inch says end-user funds were not affected. It redeployed the relevant contract, and resolvers now run Fusion v2 (1inch blog).

The risk users most often overlook is token approvals. Approving a contract to spend a token can stay in force after the swap. Approve exact amounts where your wallet allows it, and revoke allowances you no longer need.

The 1INCH token

1INCH is an ERC-20 token on Ethereum with a maximum supply of about 1.5 billion, according to Etherscan. Holders vote in the 1inch DAO. Staked 1INCH also decides which resolvers may fill Fusion orders, and unstaking before the lock period ends carries a penalty. The token is not equity in Degensoft, and you do not need it to swap.

Getting help

1inch's support article lists two official channels: live chat (the "Talk to us" button at the bottom of the 1inch swap page) and email at [email protected]. Discord and Telegram are community spaces. 1inch warns that its team will not send unsolicited direct messages or ask for funds, private keys or seed phrases. OBOL's separate 1inch DEX review holds its editorial assessment.

Official channels

• Website and app: 1inch.com
• Help center: help.1inch.com
• X: x.com/1inch
• GitHub: github.com/1inch
• YouTube: youtube.com/channel/UCk0nvK4bHpteQXZKv7lkq5w
• Reddit: reddit.com/r/1inch/
• Discord: discord.com/invite/1inch
• Telegram (news): t.me/OneInchNetworkNews