{"id":33968,"date":"2020-12-25T03:00:46","date_gmt":"2020-12-25T01:00:46","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=33968"},"modified":"2025-08-28T16:26:15","modified_gmt":"2025-08-28T13:26:15","slug":"defi-project-1inch-launches-its-namesake-governance-token-with-a-portion-distributed-to-users","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/defi-project-1inch-launches-its-namesake-governance-token-with-a-portion-distributed-to-users\/","title":{"rendered":"DeFi project 1inch launches its namesake governance token, with a portion distributed to users."},"content":{"rendered":"<p>The liquidity aggregator from decentralized exchanges, 1inch, released the &#8216;instant governance&#8217; token 1INCH. It is used only within the ecosystem and allows the community to vote on protocol settings, ForkLog representatives said.<\/p>\n<p><!--more--><\/p>\n<p>The total supply amounts to 1.5 billion 1INCH. Initially, 6% will be in circulation. The community will receive 30% of the tokens, 14.5% for the development fund. They will be distributed over four years.<\/p>\n<p>Tokens will be distributed to participants of two liquidity mining programs and wallets that interacted with the aggregator before 00:00 UTC on December 24 and met one of the following conditions:<\/p>\n<ul>\n<li>at least one trade before September 15.<\/li>\n<li>trades totaling at least $20.<\/li>\n<li>at least four trades.<\/li>\n<\/ul>\n<p>Tokens can be claimed on the 1inch website by connecting a wallet via WalletConnect or another option.<\/p>\n<p><strong>Update:<\/strong> As of 14:00 Moscow time, a total of 55.8 million coins have been distributed among 15,652 wallets. This is 62% of the 1INCH tokens allocated for the airdrop. The coin trades around $2.80, according to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/1inch\" target=\"_blank\" rel=\"noopener noreferrer\">CoinGecko<\/a>.<\/p>\n<div id=\"attachment_120572\" style=\"width: 1861px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-120572\" class=\"size-full wp-image-120572\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Screenshot_4-19.png\" alt=\"DeFi project 1inch releases its namesake governance token. Part will be distributed among users\" width=\"1851\" height=\"637\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Screenshot_4-19.png 1851w, https:\/\/forklog.com\/wp-content\/uploads\/Screenshot_4-19-300x103.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Screenshot_4-19-1024x352.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Screenshot_4-19-768x264.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Screenshot_4-19-1536x529.png 1536w\" sizes=\"auto, (max-width: 1851px) 100vw, 1851px\" \/><\/p>\n<p id=\"caption-attachment-120572\" class=\"wp-caption-text\">Data: <a href=\"https:\/\/duneanalytics.com\/0xBoxer\/1inch-token\" target=\"_blank\" rel=\"noopener noreferrer\">Dune Analytics<\/a>.<\/p>\n<\/div>\n<p>The liquidity mining will launch at 00:00 UTC on December 26 for providers in six pools:<\/p>\n<ul>\n<li>1INCH \u2013 ETH;<\/li>\n<li>1INCH \u2013 DAI;<\/li>\n<li>1INCH \u2013 WBTC;<\/li>\n<li>1INCH \u2013 USDC;<\/li>\n<li>1INCH \u2013 USDT;<\/li>\n<li>1INCH \u2013 YFI.<\/li>\n<\/ul>\n<p>In the first two weeks, 0.5% of the total supply will be distributed among them.<\/p>\n<p>With 1INCH, users govern the aggregation and liquidity protocols. In the first case they vote on how the spread surplus should be allocated between referral rewards and governance rewards.<\/p>\n<p>In the second case, users and providers vote on changes to key parameters\u2014from fees to referral rewards. The developers implemented two governance types: general parameter settings (Factory governance) and per-pool parameters (Pool governance).<\/p>\n<p>The voting weight is proportional to the amount of tokens held by the user. The 1inch protocol gradually applies new votes over a 24-hour period.<\/p>\n<p>In August, the 1inch developers <a href=\"https:\/\/forklog.com\/en\/news\/1inch-developers-announce-the-second-phase-of-yield-farming-on-mooniswap\">integrated the Mooniswap automated market maker algorithm into the aggregator.<\/a> The same time the first phase of token distribution began.<\/p>\n<p>From November 18, among liquidity providers in four Mooniswap pools (ETH \u2013 WBTC; ETH \u2013 USDC; ETH \u2013 DAI; ETH \u2013 USDT) <a href=\"https:\/\/forklog.com\/en\/news\/1inch-developers-announce-the-second-phase-of-yield-farming-on-mooniswap\">an additional distribution of 1% of the 1INCH supply began.<\/a><\/p>\n<p>In the same month, the project founders updated the platform, <a href=\"https:\/\/forklog.com\/en\/news\/1inch-developers-unveil-updated-platform-version\">adding a tool to find the best swap opportunities for tokens in a short time called Pathfinder.<\/a> This algorithm, together with Mooniswap <a href=\"https:\/\/forklog.com\/en\/news\/1inch-to-deploy-mooniswap-and-pathfinder-on-near-blockchain\">will be deployed on the NEAR blockchain in 2021.<\/a><\/p>\n<p>On December 2, 1inch <a href=\"https:\/\/forklog.com\/en\/news\/defi-project-1inch-raises-12-million-with-pantera-capital-backing\">attracted $12 million in investments from Pantera Capital, Blockchain Capital, Fabric Ventures, Josh Hanna and other participants.<\/a> The funds will be used to develop products, expand the team, and enter new markets.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The liquidity aggregator from decentralized exchanges 1inch issued the &#8216;instant governance&#8217; token 1INCH. It is used only within the ecosystem and allows the community to vote on protocol settings, ForkLog representatives said.<\/p>\n","protected":false},"author":1,"featured_media":33969,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1487,1093,787],"class_list":["post-33968","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-1inch","tag-defi","tag-dex"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/33968","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=33968"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/33968\/revisions"}],"predecessor-version":[{"id":33970,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/33968\/revisions\/33970"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/33969"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=33968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=33968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=33968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}