1inch (1INCH): how it works, supply and reviews
In short
- Type
- DEX aggregator and set of open-source swap protocols (smart contracts), not a separate blockchain
- Maximum supply
- 1.5 billion 1INCH, all minted at genesis; the mint function was burned on 6 April 2022
- Risks and caveats
- Swaps interact with external DEXes; funds approved to a compromised third-party pool or contract can be affected
- Checked
- 31 October 2026
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Key facts
- Ticker
- 1INCH
- Official site
- 1inch.com
Key facts checked on 31 October 2026 against official sources.
What is 1inch
1inch is a self-custodial DeFi platform that began as a DEX aggregator, routing token swaps across many decentralised exchanges to find better rates. It now also offers intent-based swaps (Fusion), cross-chain swaps without bridging (Fusion+), a mobile wallet and developer APIs across 18+ networks. 1INCH is the governance and utility token of the 1inch Network and its DAO.
Network and consensus
| Parameter | Details |
|---|---|
| Type | DEX aggregator and set of open-source swap protocols (smart contracts), not a separate blockchain |
| Runs on | EVM networks such as Ethereum, BNB Chain, Polygon, Arbitrum, Optimism, Avalanche and Base, plus Solana |
| Custody | Non-custodial: swaps run from the user's own wallet; funds are not held by 1inch |
| Contract upgrades | Core smart contracts are non-upgradable, with no admin keys that can change core logic |
| Swap modes | Intent-based swaps (introduced 2022), atomic cross-chain swaps with MEV protection (2024), Solana-EVM swaps without bridges (2025) |
Supply and issuance
| Parameter | Details |
|---|---|
| Maximum supply | 1.5 billion 1INCH, all minted at genesis; the mint function was burned on 6 April 2022 |
| Initial distribution | Community incentives 30%, network growth fund 14.5%, core contributors and team 22.5%, backers 33%; 94% was locked in vesting at genesis |
On 31 October 2026: 1,369,000,000 1INCH in circulation, 1,500,000,000 1INCH in total (source: 1inch Network site, tokenomics block).
What 1INCH is used for
- Staking 1INCH gives Unicorn Power (UP), which is used to propose and vote in the 1inch DAO
- UP can be delegated to Fusion mode resolvers (utility) and to Snapshot governance delegates
- Token holders control DAO treasuries, the Fusion settlement contract and the resolver whitelist
Who develops and governs 1inch
- Founders
- Sergej Kunz and Anton Bukov, who built the first aggregator at an ETHGlobal hackathon in New York in 2019
- Governance
- The 1inch DAO decides the direction of the 1inch Network; standard proposals have a 5-day vote and a 10,000,000 UP quorum
- Foundation
- The 1inch Foundation is a non-profit that funds and stewards development of the 1inch Network
- Developer
- 1inch is a contributor to the 1inch Network; the website footer says it is built by Degensoft
- Open source
- Core smart contracts are open source in the 1inch GitHub organisation
History
| Date | Event |
|---|---|
| 2019 | Sergej Kunz and Anton Bukov built the first 1inch DEX aggregator at an ETHGlobal hackathon in New York |
| 25 December 2020 | The 1INCH governance token was introduced |
| 6 April 2022 | The 1inch Foundation burned the 1INCH mint function, fixing supply at 1.5 billion |
| 30 October 2024 | A compromised third-party animation library loaded by the 1inch dApp affected some users' wallets; protocols, wallet and API were not affected |
| 9 December 2024 | An attacker obtained the owner key of the 1inch Labs resolver contract and moved funds from it; 1inch said user funds were not affected |
| 5 March 2025 | A bug in the obsolete Fusion v1 settlement contract was exploited against older resolver contracts; the contract was redeployed |
| 2025 | 1inch launched a new brand identity in late 2025 and moved its main site to 1inch.com |
Security and audits
- Audit reports are archived in the 1inch-audits GitHub repository, with several firms per protocol version (e.g. Consensys, Decurity, Hexens, OpenZeppelin, PeckShield, Pessimistic for Aggregation Router v6)
- OpenZeppelin audited Aggregation Router V6 (report dated 18 April 2023) and the cross-chain swaps contracts behind Fusion+ (report dated 5 April 2024)
- Incidents described by 1inch: a compromised third-party library in the dApp (30 October 2024), a stolen resolver-contract owner key (9 December 2024) and a Fusion v1 bug exploited against older resolver contracts (5 March 2025)
- 1inch runs a bug bounty programme
Security incidents
| Date | What happened | Source |
|---|---|---|
| 5 March 2025 | Exploit: 1inch says that around 6 pm UTC on 5 March 2025 a vulnerability was exploited in resolver contracts that still used the obsolete Fusion v1 implementation. It says no end users were affected and that it redeployed the relevant contract as a precaution. Funds returned: not stated | 1inch.com |
Further incidents are reported by third parties (press, incident databases) but are not confirmed in the company’s own channels, so they are not listed here.
Official 1INCH contracts
| Network | Contract address |
|---|---|
| Ethereum | 0x111111111117dc0aa78b770fa6a738034120c302 |
1INCH token contract on Ethereum, as published by 1inch.
Risks and caveats
- Swaps interact with external DEXes; funds approved to a compromised third-party pool or contract can be affected
- Old, unsupported contract versions remain on-chain; an obsolete Fusion v1 contract was exploited against integrators in March 2025
- Front-end and key-management incidents have occurred (October and December 2024) even though the core protocols were not affected
Official links
- Website: 1inch.com
- 1inch Network and DAO: 1inch.network
- Docs: business.1inch.com/portal/documentation/overview
- Source code: github.com/1inch
- Audits: github.com/1inch/1inch-audits
- Blog: 1inch.com/blog
- Governance forum: gov.1inch.network
Questions and answers
What is 1inch?
A self-custodial DeFi platform that started as a DEX aggregator and now offers intent-based and cross-chain swaps, a wallet and APIs on Ethereum, other EVM networks and Solana.
Who created 1inch?
Sergej Kunz and Anton Bukov built the first 1inch aggregator at an ETHGlobal hackathon in New York in 2019.
What is the maximum supply of 1INCH?
1.5 billion 1INCH. All tokens were minted at genesis and the mint function was burned on 6 April 2022.
Was 1inch hacked?
1inch has described three incidents: a compromised third-party library in its dApp (October 2024), a stolen resolver-contract key (December 2024) and an exploited obsolete Fusion v1 contract affecting older resolver contracts (March 2025). It says its core protocols were not affected.
Is 1inch audited?
Yes. Reports from firms such as OpenZeppelin, Consensys, Decurity and Hexens are published in the 1inch-audits GitHub repository.
Sources
- 1inch - Homepage
- 1inch - About
- 1inch - Security
- 1inch Network
- 1inch Blog - 1INCH token: governance and utility
- 1inch Blog - Supply chain attack postmortem
- 1inch Blog - Unauthorized access incident
- 1inch Blog - Vulnerability in obsolete Fusion v1 contract
- 1inch-audits repository README
- OpenZeppelin - 1inch Aggregation Router V6 Audit
- OpenZeppelin - Cross Chain Swaps Audit
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