1inch is a decentralized exchange (DEX) aggregator that consolidates multiple DEX platforms into a single interface. This allows users to find the most cost-effective and efficient routes for token swaps without manually checking each exchange. By sourcing liquidity from various DEXs, 1inch can offer better rates than any individual platform. Launched in August 2020, 1inch received $2.8 million in initial funding from investors including Binance Labs, Galaxy Digital, Greenfield One, Libertus Capital, Dragonfly Capital, FTX, IOSG, LAUNCHub Ventures, and Divergence Ventures. In December 2020, the platform secured an additional $12 million in Series A funding led by Pantera Capital, with participation from ParaFi Capital, Blockchain Capital, Nima Capital, and Spartan Group.
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