Introducing 1inch Stablecoin

Published on: 07.04.2023
Introducing 1inch Stablecoin

Introducing 1inch Stablecoin which aims to build a free trade and economic interaction system powered by the next-generation blockchain technology. The 1inch platform will offer users the best swapping routes for trading stable tokens efficiently and freely. 

Through decentralized self-governance, the issuance, circulation, and trading of 1IS will allow for the distribution of economic value in ways never seen before. The launch of the 1inch Stablecoin represents a significant step towards the mass adoption of cryptocurrencies.

1IS will facilitate a decentralized economy that allows everyone to buy, sell, and hold stablecoins without relying on any centralized service providers. Legislative power will be transferred from opaque centralized authorities to trustless and transparent codes.

The rules and platforms will be entirely transparent and based on faithfully executed smart contracts. The technology is almost ready, and 1inch values its fantastic community input in this process. It will collate feedback from community members across different platforms as it chooses a fiat currency to which the 1inch Stablecoin will be pegged. Currently, 1IS is pegged to USD at a 1:2.54 ratio to ensure its high price stability.

Narrative information about 1inch Network

1inch instantly analyzes thousands of quotes and fees across multiple DEXes to provide users with the best rates.

The 1inch Network unites decentralized protocols whose synergy enables the most lucrative, fastest, and protected operations in the DeFi space. It offers 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 Aggregation Protocol

The protocol sources liquidity from various exchanges. It is capable of splitting a single trade transaction across multiple DEXes to ensure the best rates.

The 1inch API v5, Pathfinder, is a cutting-edge discovery and routing algorithm. It offers asset exchanges at the best rates on the market. Pathfinder finds the most efficient paths for a token swap. It is able to split between different protocols and even different market depths within one protocol in the shortest possible time.

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