# Why 1inch

By [Untitled](https://paragraph.com/@0xc522581f5cbd2239cf83d7d5f661f025da184b73) · 2024-01-06

---

[https://1inch.io/](https://1inch.io/)

The **1inch** began its journey in 2019 and has become one of the most recognizable products in the DeFi market. Every DeFi geek knows about this product, as it has greatly influenced the market and its growth.

In 2020, **1inch** attracted significant attention in the DeFi sector because of its innovative approach to token swaps. It quickly became one of DeFi leading platforms, processing millions of dollars in trades every day. December 2020, **1inch** launched its governance token, allowing users to participate in the management of the platform and receive a share of the commissions. This was an important step in 1inch development as a fully decentralized organization.

In 2021, **1inch** continued to expand, adding support for new blockchains such as Binance Smart Chain and Polygon, which allowed it to attract even more users.

Overall, the success of 1inch can be attributed to several key factors:

*   Innovative approach to token swaps
    
*   Active community engagement through management tokens, and strategic expansion into new blockchains
    

This shows that **1inch** understands its users well and is able to adapt quickly to changing market conditions.

**1inch** will continue to improve its algorithm to provide the best price and minimize slippage. This may include the introduction of new technologies and optimization techniques.

Given current trends in the DeFi sector, I am confident that **1inch** will actively participate in the development of **DeFi 2.0**, including the introduction of new features and services that will improve the security, efficiency and availability of DeFi.

---

*Originally published on [Untitled](https://paragraph.com/@0xc522581f5cbd2239cf83d7d5f661f025da184b73/why-1inch)*