{"id":27126,"date":"2020-08-11T16:01:29","date_gmt":"2020-08-11T13:01:29","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=27126"},"modified":"2025-08-26T18:55:28","modified_gmt":"2025-08-26T15:55:28","slug":"binance-labs-leads-2-8-million-funding-round-for-1inch","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binance-labs-leads-2-8-million-funding-round-for-1inch\/","title":{"rendered":"Binance Labs Leads $2.8 Million Funding Round for 1inch"},"content":{"rendered":"<p>The 1inch team announced the successful completion of a funding round worth $2.8 million with participation from institutional investors.<!--more--><\/p>\n<p>The round was led by Binance Labs. Other participants included: Galaxy Digital, Greenfield One, Libertus Capital, Dragonfly Capital, FTX, IOSG, LAUNCHub Ventures, Divergence Ventures, Kyber Network founder Loi Luu, and NEAR Protocol co-founder Ilya Polosukhin.<\/p>\n<p>1inch is a liquidity aggregator for decentralised exchanges. It has integrated support for leading platforms, including Uniswap, Kyber Network, Airswap, Oasis, Bancor, Balancer, Curve, and others.<\/p>\n<p>According to the press release, the funding round marks a &#8216;critical point in 1inch&#8217;s rapid growth,&#8217; with total trading volume in the round recently reaching $1 billion.<\/p>\n<p>The day before, the aggregator team <a href=\"https:\/\/u1f987.com\/en\/news\/1inch-team-deploys-mooniswap-automated-market-maker-algorithm\">integrated<\/a> into it its own automated market-maker (AMM) algorithm called Mooniswap. It is expected that the arbitrageurs&#8217; profits will be reduced in favour of liquidity providers.<\/p>\n<p>1inch also provides a platform that enables users to earn yields by staking tokens across multiple liquidity pools.<\/p>\n<p>The raised funding will help the team expand its product lineup. Among the near-term innovations announced by the developers are:<\/p>\n<ul>\n<li>a new algorithm for the API;<\/li>\n<li>a native token;<\/li>\n<li>a yield farming solution.<\/li>\n<\/ul>\n<p>In July, the number of daily active wallets on 1inch reached 1,200, and their total surpassed 17,700, according to the statement.<\/p>\n<p>According to Messari analysts, about 20% of the total trading volume of decentralised Ethereum exchanges is attributed to DeFi aggregators.<\/p>\n<p>Follow the Forklog channel on <a href=\\\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 1inch team announced the successful completion of a funding round worth $2.8 million with institutional investors.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1487,1093,787],"class_list":["post-27126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-1inch","tag-defi","tag-dex"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=27126"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27126\/revisions"}],"predecessor-version":[{"id":27127,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27126\/revisions\/27127"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=27126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=27126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=27126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}