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What is 1inch ?

1inch is a DEX aggregator that combines liquidity from major DEXes. 1inch achieves the lowest slippage by splitting orders among multiple DEXes in one single transaction. E.g., an order can be split to go through Uniswap (30% vol) and Kyber (70% vol) together. 1inch also bridges the liquidity if a specific trading pair lacks liquidity in all DEXes. If an user wants to trade DAI for ETH, but all DEXes have high slippage, 1inch will split the trade into DAI->USDC | USDC -> ETH to achieve the lowest slippage. 1inch has introduced more complex contracts than other DEXes like Uniswap. It will result in higher gas fee and additional cost for users. There's no open service fee claimed by 1inch. But if the final transaction price moves in the favorable direction for users, unlike other DEXes, 1inch will pocket these tokens themselves and will not give this part of earnings back to users. [Latest public audit report](https://github.com/peppersec/public-audit-reports/blob/master/reports_pdf/1inch-Protocol-audit-report.pdf) is provided by PepperSec.

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