1inch unveils 1INCH token and Mooniswap Liquidity Mining

By Abhimanyu Krishnan | News | 24 Aug 2020

On August 22, DEX aggregator 1inch revealed its native governance token 1INCH alongside a Mooniswap liquidity mining incentive. 

  • 1INCH will serve as a governance token; the token can be staked for network security and be used in governance of specific network functionalities, among other use cases
  • 1INCH will not be on sale, but rewarded and distributed to the users of 1inch’s products
  • Expected to be released in the weeks to come
  • Mooniswap is an automated market maker released by 1inch, for which Ampleforth (AMPL) created 9 new liquidity pools
  • The Mooniswap protocol uses virtual balances to grant Liquidity Providers (LPs) the opportunity to earn a portion of price slippage profits
  • As an incentive, Early Mooniswap LPs with 1 year vesting will receive 2% of the total supply

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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