What is a 1inch token?

The 1INCH token is the governance and utility token of the 1inch Network. 1INCH holders can stake their tokens to participate in the 1inch Network's DAO governance, including the 1inch DAO Treasury management. Also, holders can choose resolvers and earn a part of their fees.

How to buy 1inch token on Binance?

To buy 1INCH token on an exchange like Binance, you must first load up your wallet with the coin that 1inch is paired with (in Binance’s case, USDT ( Tether ), BUSD or Bitcoin) and then use the appropriate trading pair page to exchange it for 1INCH. On 1inch itself, follow the guide above.

What is 1inch and how does it work?

1inch is an ERC-20 token on Ethereum and is also available on BSC through a cross-chain bridge. It acts as both a utility and governance token for the 1inch Network. 1inch holders can stake 1inch through the platform’s Decentralized Autonomous Organization (DAO) to earn staking rewards and help tweak the protocol.

What is 1inch's 'Instant governance' token?

On Christmas Day, 2020, 1inch launched its own cryptocurrency, 1INCH token. It's a “governance token,” meaning that you can use it to vote on the way that the 1inch platform is run. 1inch called this “instant governance”.