1inch (1INCH) is a decentralized exchange (DEX) aggregator that allows users to swap tokens at optimal prices by accessing liquidity from multiple sources. Here's how it works and how the 1INCH token is used:

• Optimal Prices: 1inch aggregates liquidity from various DEXes and liquidity pools, ensuring users get the best swap rates. This is achieved through a Dutch auction process where third-party traders called "resolvers" act as market makers, bidding on swaps and profiting from arbitrage trading and platform incentives.

• Token Usage: The 1INCH token serves both as a utility token and a governance token. In Fusion mode, resolvers stake 1INCH tokens and deposit them into a "feebank" contract to process swap transactions. Holders of 1INCH tokens also have voting rights in 1inch's decentralized autonomous organization (DAO), allowing them to choose future directions for the platform.

• Token Distribution: The total supply of 1.5 billion 1INCH tokens is allocated as follows: 33% to backers/investors, 30% for community incentives, 22.5% to core contributors, and 14.5% for network growth. All tokens were scheduled to be distributed by the end of 2024.

• Governance: 1INCH token holders can vote on key protocol parameters such as swapping fees, price impact fees, governance rewards, referral rewards, and the token's decay period.

• Security: 1inch is designed with security as a top priority, with features like non-upgradable smart contracts by design and repeated audits by top experts to minimize the risk of hacking and exploits.

To store 1inch (1INCH) tokens, you can use a variety of wallets that support the Ethereum blockchain, as 1INCH is an ERC20 token. Here are some options:

1. 1inch Wallet: The official 1inch Wallet is a DeFi wallet that allows you to manage your crypto and get the best token swap prices across the DeFi industry. It offers top-level security, is completely self-custodial, and supports hardware wallets like Ledger Nano X.

2. Ledger Hardware Wallet: Ledger offers a range of hardware wallets, such as Ledger Nano S Plus and Ledger Nano X, which can securely store your 1inch tokens. These wallets store your private keys offline, making them resistant to malicious attacks. You can manage your assets using the Ledger Live App.

3. YouHodler Wallet: YouHodler provides a wallet solution that supports 1INCH tokens. Their mobile wallet has advanced security features like 2FA, 3FA, and regular security audits to ensure the safety of your funds.

4. Other Ethereum Wallets: Since 1INCH is an ERC20 token, you can also use other Ethereum wallets that support ERC20 tokens. These wallets allow you to send, receive, and store your 1inch tokens securely.

When choosing a wallet, consider factors such as security, ease of use, and compatibility with your devices. Always ensure you follow best practices for securing your private keys and protecting your assets.

To buy 1inch (1INCH) tokens, follow these steps:

1. Choose a Reputable Exchange:

   • Select a reliable cryptocurrency exchange that supports 1INCH tokens, such as Binance, KuCoin, or Tap Global.

2. Create an Account:

   • Register on the chosen exchange's website or mobile app, and verify your account to ensure security and compliance.

3. Add a Payment Method:

• Set up a payment method, which can include credit/debit cards, bank transfers, or third-party payment channels, depending on the exchange.

4. Buy 1INCH Tokens:

   • Navigate to the exchange's platform, select 1INCH tokens, and choose your preferred payment method. You may need to buy a stablecoin like USDT first and then use it to purchase 1INCH tokens.

5. Store Your Tokens:

   • Once you have purchased your 1INCH tokens, store them securely in an Ethereum-compatible wallet that supports ERC-20 tokens. You can use the exchange's built-in wallet or a third-party wallet like Trust Wallet.

Remember to always follow the specific instructions and guidelines provided by the exchange you choose, and be cautious of market risks and price volatility.