#1inch in 2023: Redefining #DeFi

By 1inch
Jan 16, 2024, 9:38 AM
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In 2023, #1inch experienced remarkable growth in its community, technological advancements, and swap volume.​ Despite a crypto winter, #1inch saw a 62% increase in swaps, 88% growth in users, and $114B in volume.​ The platform demonstrated growth on Ethereum with a 70% increase in swaps and 30% user base growth.​ #1inch also launched the 1inch Developer Portal and became involved in numerous events and campaigns.​ The platform aims to collaborate with Uniswap to enhance the Web3 ecosystem.​

Sources

1/ Yesterday, @CyrillePastour from the @SwaapFinance team highlighted an intriguing development in the DEX space. 📊 According to his analysis, #1inch has surpassed @Uniswap in frontend trading volume by November 2023: x.com/CyrillePastour…

Cyrille
Cyrille
@CyrillePastour

Let's debunk the biggest myth in DeFi. @Uniswap is not the largest DEX. Data shows that @1inch in fact should get the title! In most DeFi rankings, Uniswap ranks 1st among DeXes by raw volume. See for instance the famous @DuneAnalytics dex.trades table. Yet, the devil is in

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