DeFi platform 1inch releases governance and utility token




imageCryptocurrency1 hour ago (Dec 24, 2020 08:40PM ET)

DeFi platform 1inch releases governance and utility token

The team behind the DeFi platform 1inch is releasing a governance and utility token, according to a Dec. 25 announcement. The 1INCH token will be used for both the platform’s automated market maker protocol and its decentralized exchange aggregator service.

The “Aggregation Protocol” governance module will allow stakers to vote on the distribution of Spread Surplus coins. These are created when the final rate for a transaction undertaken through the aggregator service is greater than that confirmed by the user.

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DeFi platform 1inch releases governance and utility token

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