The 1Inch DEX project has raised $12 million in a funding round led by Pantera Capital, according to a blog post published on Dec. 2.

• The $12 million comes from institutional investors Pantera Capital, ParaFi Capital, and Nima Capital, among others
• The funds will go towards product development, recruitment, marketing, and market expansion 
• Just as 1inch hit the milestone of $1 billion in cumulative trading volume in Aug. 2020, it raised $2.8 million from several investors, including Binance Labs, Dragonfly Capital, and FTX 
• 1inch is a DEX aggregator that gives users the best prices by splitting orders among multiple DEXs
• The exchange launched a new version of the DEX in Nov. 2020, introducing a token swap API, a new UI and general optimizations; it plans to support more DEX protocols in the future