1inch (1INCH) Price

1INCH is the governance and utility token of the 1inch Network. It allows the community to participate in protocol-related decisions and can create governance influence through governance staking and delegation related to governance or Fusion Mode; it does not represent company equity or promise fixed returns or dividends.

Participants can first discuss ideas in the governance forum; they can then structure them as a 1inch Governance Proposal (1IP) and launch a community temperature check. The temperature-check forum vote lasts 5 days and is intended to establish community sentiment before the Snapshot stage. To vote on Snapshot or create a proposal that meets the preceding process requirements, users must stake 1INCH or hold v1INCH to obtain Unicorn Power (UP). The Snapshot voting period lasts 7 days; the result determines whether a proposal passes, and the official help documentation states that passed proposals can be executed directly on-chain by the SafeSnap module. Creating a Snapshot proposal also requires holding or being delegated at least 100,000 UP, so being able to discuss an idea does not mean that an on-chain governance process can be initiated without conditions.

After depositing 1INCH into the time-locked governance staking contract, the wallet and blockchain explorer display the corresponding st1INCH, through which the holder receives Unicorn Power (UP). UP is the unit used to measure an individual’s influence in the DAO; it is not additionally issued 1INCH and does not automatically generate interest. UP gradually decays according to the selected lock period, so governance influence is not a permanently unchanged balance. Holders can delegate UP to Snapshot governance delegates or Fusion Mode resolvers; the two types of delegation are independent, and in governance voting, if a delegator votes personally, that choice can override the delegate’s vote.

1INCH has a maximum supply of 1.5 billion tokens, all of which were minted at genesis. Most initially entered vesting contracts; “minted” does not mean all tokens were freely circulating at that time, and the subsequent tradable supply still depends on vesting and release arrangements. The 1inch Foundation burned the token’s minting capability in April 2022, so the contract can no longer increase the total supply beyond 1.5 billion tokens. This rule constrains the maximum total supply, but it does not prevent tokens that were already minted and locked from being released under existing vesting arrangements.

The purpose of governance staking itself is to obtain governance influence; the 1inch Network does not directly distribute staking rewards for governance staking. Therefore, staking 1INCH should not be understood as automatically receiving returns promised by the network. If UP is delegated to a Fusion Mode resolver, an individual resolver may establish its own reward program to attract delegations. Such rewards are determined by that resolver’s rules and are not a uniform staking yield from the 1inch Network; eligibility, amount, duration, and risks must all be assessed according to the resolver’s specific arrangement.