1inch incentivizes Unicorn Power delegation
1inch incentivizes Unicorn Power delegation, aims to incentivize the delegation of 1INCH stakers’ Unicorn Power to resolvers.
10 mln 1INCH tokens allocated to incentivize stakers’ delegation of Unicorn Power to resolvers. As 1inch incentivizes Unicorn Power delegation
the 1inch Network launched Fusion mode, which enables users to make swaps without paying network fees. Swap orders are filled by resolvers — professional market makers who pay applicable gas fees, while profiting from arbitrage trading.
To help facilitate the new system, the 1inch Resolver Incentive Program was launched in December, 2022, aimed to compensate resolvers’ gas costs.
Meanwhile, users who stake their 1INCH tokens, now receive Unicorn Power, which could be used in votes for major network decisions or delegated to one of the resolvers — in exchange for delegation rewards.
Offers users a totally new approach to DeFi transactions, and, to incentivize the process of Unicorn Power delegation to resolvers, 250,000 1INCH tokens will be distributed to 1inch resolvers. The resolvers, in turn, will use these funds to reward stakers who delegated them Unicorn Power, making the staking of 1INCH tokens extremely attractive.
The number of tokens that each resolver will receive will depend upon their network share. The program will run until the entire 10 mln 1INCH fund is distributed.
About 1inch Network?
The 1inch Network (https://1inch.io/) unites decentralized protocols whose synergy enables the most lucrative, fastest, and protected operations in the DeFi space by offering access to hundreds of liquidity sources across multiple chains. The 1inch Network was launched at the ETHGlobal New York hackathon in May 2019 with the release of its Aggregation Protocol v1. Since then, 1inch Network has developed additional DeFi tools such as the Liquidity Protocol, Limit Order Protocol, P2P transactions, and 1inch Mobile Wallet.
- 1inch dApp – a web-based application that is connected to all supported blockchains via smart contracts.
- Aggregation Protocol – the 1inch API v5, Pathfinder, is a cutting-edge discovery and routing algorithm, which offers asset exchanges at the best rates on the market.
- Liquidity Protocol – 1inch Liquidity protocol (previously called Mooniswap) is an AMM that aims to offer capital-efficient liquidity positions while protecting users from front-running.
- Limit Order Protocol – 1inch Limit Order Protocol is a set of smart contracts that allows users to place limit orders, and RFQ Orders, which later can be filled on-chain
- Transactions – 1inch Peer-to-Peer allows two users to make an over-the-counter style trade of any ERC20 token.
Mobile Wallet – The 1inch Wallet is a non-custodial crypto wallet with the best swap rates and the swiftest web3 browsing experience. Available both on iOS and Android.