We’re excited to announce that 1inch has chosen to integrate with Commonwealth to use our all-in-one governance platform. As a distributed network seeking to provide the fastest operations in DeFi, 1inch seeks to drive mass adoption of crypto by those outside the community. We look forward to helping them use our platform to grow their project!
1inch: A Distributed Network for Protocols
The 1inch Network unites decentralized protocols to create the fastest and most lucrative operations in the DeFi space. Their initial protocol is a DEX aggregator solution, which searches across multiple liquidity sources to find the best deals and rates across various exchanges. 1inch does this by incorporating the Pathfinder algorithm to find the best paths among an ever-shifting market. They source liquidity across many chains such as Ethereum, BNB, Polygon etc.
Their Liquidity Protocol is a next-generation automated market maker. It protects users from front-running attacks and facilitates the most efficient limit order swap opportunities in all of DeFi. The protocol has been busy building as of late—recent partnerships have included Unstoppable Domains and Oktagon MMA. Their dynamic pricing, conditional order, and extra RFQ support have garnered an influx of attention to their network.
Commonwealth: Discuss, Vote on, and Fund Projects
Commonwealth is the web3 governance platform and crypto-native community used by many of the top DeFi projects to discuss, vote on, and fund their initiatives. We accommodate various governance processes—including polling, token gating, webhooks, notification settings, wallet connect, snapshot, and more—so projects don’t need to be managed across multiple communities like Discord, Telegram, and more. We’re a one-stop for all your decentralized governance needs. Since everything happens on Commonwealth, your decision-making processes, community discussions, treasury management, and more become seamless.
At its core, blockchain technology is creating a decentralized system that operates without a central authority. This is allowing DAOs to organize themselves online. In a DAO, decisions are made by a community organized around a specific set of rules all coded on the blockchain, making them 100% transparent and community-driven. They happen to share one bank account, where members vote on how funds are raised and distributed. In contrast, the critical decisions of today’s leading financial institutions are made by a select group of people behind closed doors. We want to usher in the future of decentralized governance.
Now that 1inch has joined Commonwealth, the organization’s community operations will be fundamentally improved. They no longer have to worry about fragmented or limited structures with low visibility or interaction. On Commonwealth, 1inch has more functionality on a streamlined system, giving them increased opportunities for engagement and growth.
Participate in the 1inch Commonwealth Forum
The 1inch platform on Commonwealth was built custom for their ecosystem and includes the following capabilities:
- Crypto-Native Token Forum: The 1inch community on Commonwealth comes with full forum capabilities including threaded discussions, upvotes, user profiles, and tokengating capabilities for their native token, 1INCH.
- Snapshot Integration: As part of the seamless governance experience that Commonwealth offers, 1inch can have full integration with Snapshot. By joining Commonwealth, the community can move from discussion post to proposal with complete transparency along the way. This enables their community to consider the entire discussion leading up to the Snapshot proposal when deciding on their vote.
- Discourse Import: Commonwealth offers a seamless Discourse migration that captures all upvotes, user profiles and comments. 1inch’s entire forum history on Discourse will be imported into their new forum on Commonwealth! Users can easily claim their account with all account history by logging into Commonwealth with the same email.
The 1inch Commonwealth forum officially goes live on December 16th. Users are encouraged to begin discussions and proposals on their platform then. The live forum can be found at https://commonwealth.im/1inch