What is 1inch?
1inch is a DEX aggregator for ERC20 tokens. It’s designed to roll liquidity and pricing from all major DEXes into one platform, making it easy to get the best price for the desired trade. Trades via 1inch can be split across exchanges, to minimize slippage and provide the best pricing possible.
How to use 1inch?
1. Connect your wallet to 1inch via WalletConnect. You can customize settings (slippage and gas fee) by clicking settings icon.
2. You can tap ‘Add custom token’ to add the token by the address. And by clicking nearby icon you enable or disable the price shown to display or not transaction costs.
3. To exchange select tokens to swap to and from, enter desired amount. As you can see the whole amount will be converted by WETH DEX.
4. Tap ‘Unlock’ to get access to asset only current time or ‘Infinity Unlock’ to get access to asset in further transactions. Infinity unlock saves in gas fees each time the application calls to verify an unlock. Confirm the transaction in your Huobi Wallet.
5. Tap ‘Swap now’, then check the information, click ‘Verify’ and pay the gas fee in your wallet.
6. Successfully swapped you will a window below.
In 1inch you can also make limit orders. Choose maker and taker assets, enter the amount to swap, desired price and duration of time for transaction to be performed.
* Please note that there is no maker fee in limit orders.
Earn in 1inch
With earn function you can earn by providing liquidity or lending in popular DeFi.
1. Tap ‘Earn’. You can add liquidity and select the proper pool or select a liquidity pool by the asset you hold. Tap on + to add liquidity. Choose the token that you have, 1inch will swap the necessary token for you. Tap ‘Provide liquidity’, confirm the transaction in your wallet and pay the gas fee.
*Please pay attention that every financial operation and decision has a potential investment risk, when making an investment think carefully, do not take any impulsive decision.