How does 1inch work?

1inch is a decentralized exchange aggregator that helps users find the best prices for their crypto trades.

It works by connecting to multiple decentralized exchanges (DEXs) and liquidity protocols, such as Uniswap, Kyber Network, Bancor, and 0x. The 1inch platform then compares the prices of different DEXs and liquidity protocols to find the best price for a given trade. When a user wants to make a trade on 1inch, they enter the amount of tokens they want to buy or sell and the token pair they want to trade.

The 1inch platform then searches through all connected DEXs and liquidity protocols to find the best price for that trade. Once it finds the best price, it will automatically split up the order into multiple smaller orders on different DEXs and liquidity protocols in order to get the best price for that trade. This process is known as “atomic swaps” or “splitting”.

The 1inch platform also offers users additional features such as “Flash Swaps” which allows users to instantly swap tokens without having to wait for an order to be filled on a DEX or liquidity protocol. Additionally, users can also use “Smart Routing” which allows them to set up rules so that their orders are automatically routed through different DEXs and liquidity protocols in order to get the best price available at any given time. Overall, 1inch is an easy-to-use platform that helps users find the best prices for their crypto trades by connecting them with multiple decentralized exchanges and liquidity protocols.