#1inch #Network ( #1INCH) has announced the launch of its official landing page, 1inch.io. The team says the new website is designed to give users an overview of the project and key components of 1inch Network, according to a Twitter post dated April 8, 2021 .
↘️A Steady Progress
In order to make it easier for prospective members of its ecosystem and existing users to quickly get an overview of the project and understand the functioning of its various components, the 1inch Network, a decentralized exchange (DeFi) and liquidity protocol, introduced the landing page 1inch.io.
As stated in the blog post, the project is a collection of “powerful and combinable” decentralized finance (DeFi) tools designed to enable both beginners and experienced traders to take advantage of the financial opportunities offered by Web3.
↘️Five Major Components
According to the team, the 1inch network is supported by five main components: 1inch Acquisition Protocol, 1inch Liquidity Protocol, 1inch DAO, 1inch Labs, 1inch Base.
The 1inch Aggregation Protocol is responsible for providing cheap and secure atomic transactions to users, the 1inch Liquidity Protocol functions as a next-generation automated generator that increases capital efficiency while protecting users from “front-run” attacks.
1inch Network is run by a decentralized autonomous organization whose responsibility is to enable 1inch stakers to participate in the management of the network and vote on important issues, while 1inch Labs consists of a private and decentralized blockchain developers group that creates open source.
Finally, the team says that the 1inch Foundation is the issuer of the 1inch token and its primary purpose is to encourage initiatives that benefit the 1inch ecosystem members as well as the network, as well as to encourage contributions through grants and more.