[Crypto projects](https://revain.org/projects/) › 1inch

# 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

## Key facts

- **Ticker**: 1INCH
- **Official site**: [1inch.com](https://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](https://1inch.network/)).

## 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](https://1inch.com/blog/post/vulnerability-discovered-in-resolver-contract) |

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](https://etherscan.io/token/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](https://1inch.com/)
- 1inch Network and DAO: [1inch.network](https://1inch.network/)
- Docs: [business.1inch.com/portal/documentation/overview](https://business.1inch.com/portal/documentation/overview)
- Source code: [github.com/1inch](https://github.com/1inch)
- Audits: [github.com/1inch/1inch-audits](https://github.com/1inch/1inch-audits)
- Blog: [1inch.com/blog](https://1inch.com/blog)
- Governance forum: [gov.1inch.network](https://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](https://1inch.com/)
- [1inch - About](https://1inch.com/about)
- [1inch - Security](https://1inch.com/security)
- [1inch Network](https://1inch.network/)
- [1inch Blog - 1INCH token: governance and utility](https://1inch.com/blog/post/1inch-token-pioneering-defi-governance-and-utility)
- [1inch Blog - Supply chain attack postmortem](https://1inch.com/blog/post/supply-chain-attack-postmortem-lessons-learnt)
- [1inch Blog - Unauthorized access incident](https://1inch.com/blog/post/1inch-promptly-responds-to-an-unauthorized-access-incident)
- [1inch Blog - Vulnerability in obsolete Fusion v1 contract](https://1inch.com/blog/post/vulnerability-discovered-in-resolver-contract)
- [1inch-audits repository README](https://github.com/1inch/1inch-audits)
- [OpenZeppelin - 1inch Aggregation Router V6 Audit](https://github.com/1inch/1inch-audits/raw/master/Aggregation%20Pr.%20V6%20and%20Limit%20Order%20Pr.V4/1inch%20Aggregation%20Router%20V6_OpenZeppelin.pdf)
- [OpenZeppelin - Cross Chain Swaps Audit](https://github.com/1inch/1inch-audits/raw/master/Cross-chain%20Protocol/1inch-cross-chain-swap-v1-Open%20Zeppelin.pdf)

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Page updated: 2026-10-31

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Source: https://revain.org/projects/1inch/