What is the issuance and circulation of 1INCH coins?

With an issuance schedule combining liquidity mining, yield farming, and potential future issuance, the total supply of 1INCH is capped at 1.5 billion coins, supporting a decentralized governance structure through the 1inch DAO.

Oct 24, 2024 at 03:46 am

Issuance and Circulation of 1INCH Coin

1. Creation

1INCH coin was created in 2020 by 1inch Network, a decentralized exchange (DEX) aggregator. The coin was designed to facilitate governance mechanisms and optimize 1inch Network's liquidity mining and yield farming initiatives.

2. Initial Distribution

• 10% allocated to early backers and seed investors
• 30% reserved for the 1inch Foundation
• 20% distributed through liquidity mining and yield farming
• 4% allocated to treasury fund for future development
• 36% remains unallocated for future issuance

3. Issuance Schedule

1INCH coins are issued through a combination of:

• Liquidity mining: users provide liquidity to 1inch's DEX and earn 1INCH rewards.
• Yield farming: users earn 1INCH rewards by staking 1INCH or supported cryptocurrencies.
• New token issuance: the 1inch Foundation may issue additional 1INCH coins to support specific projects or initiatives.

4. Circulation

As of January 2023, there are approximately 357 million 1INCH coins in circulation. The total supply is capped at 1.5 billion 1INCH coins.

5. Governance

1INCH coin holders can participate in the governance of 1inch Network through the 1inch DAO. They can propose and vote on protocol updates, allocate funds, and set policy parameters.

6. Use Cases

• Governance: Participate in 1inch Network's decision-making process.
• Liquidity mining and yield farming: Earn rewards for providing liquidity and staking 1INCH.
• Trading: Buy, sell, and trade 1INCH coins on cryptocurrency exchanges.
• Payment: Use 1INCH as a payment method on compatible services and platforms.