The 1INCH token was issued by a non-profit organization dedicated to fostering the 1inch Network as well as initiatives that advantage the network’s community. The company recently attended the AIBC Summit 2022 in Dubai.
Mission
The 1inch Foundation’s mission is to support the 1inch Network’s development and success while also incentivizing contributions through grants as well as other capital deployment vehicles. The focus of the 1inch Foundation is on the following areas:
- Community
Increasing stake owner numbers and involvement in DAO governance to engage adopters and maximize the network’s decentralization.
- Grants
Individual developers, as well as teams, are being rewarded for contributing to the evolution of the 1inch Network’s protocols.
- Agriculture-related programs
Running yield farming programs that have proven to be effective bootstrapping instruments for DeFi’s potential blue chips while providing users with lucrative pool rewards.
1inch DAO
The network is governed by a decentralized organization that allows 1INCH holders to vote on key protocol variables.
An entry to the 1inch Network’s technology. The 1inch dApp is the world’s leading DeFi aggregator, providing access to the deepest liquidity as well as best token swap rates all over multiple DEXes, as well as unique features such as partial fill as well as the ability to determine the best swap paths all over multiple liquidity source materials.
The 1INCH token has an instant governance feature that allows community members to easily take part, benefit from, and vote on various protocol settings without having to wait for long periods.
Timeline for implementing governance
The first phase involves the distribution of 1INCH tokens.
During this phase, the 1inch Foundation distributes its token to community members in order with a lockup release schedule via numerous incentivization activities.
The purpose of this phase is to establish a ground community for the implementation of DAO.
The second phase is the establishment of the DAO’s governance
Instant governance is a feature of the 1INCH token that allows community members to vote on various protocol settings quickly and easily.
