DeFi platform 1inch releases governance and utility token By Cointelegraph


DeFi platform 1inch releases governance and utility token

The crew behind the DeFi platform 1inch is releasing a governance and utility token, based on a Dec. 25 announcement. The 1INCH token shall be used for each the platform’s automated market maker protocol and its decentralized alternate aggregator service.

The “Aggregation Protocol” governance module will permit stakers to vote on the distribution of Unfold Surplus cash. These are created when the ultimate price for a transaction undertaken by way of the aggregator service is bigger than that confirmed by the consumer.