On August 11, DEX aggregator platform 1inch announced that it had raised $2.8 million in its first round of investment, which included participation from Binance Labs, Galaxy Digital and institutional investors.
- Led by Binance Labs, investors include institutional investors, Galaxy Digital, Greenfield One, Libertus Capital, Dragonfly Capital, FTX, Kyber Network (KNC) founder Loi Luu, and NEAR Protocol co-founder Illia Polosukhin, among others
- Funds will be used to product development team, growth and marketing
- Launched in May 2019 at the ETHGlobal Hackathon, 1inch is a DEX aggregator that finds the best rates among multiple DEXs
- Upcoming features include the release of a native token and liquidity farming
- 1inch also recently crossed the milestone of $1 billion in overall trading volume