DEX 1inch raised $12 million during the first round of funding.
According to 1inch CEO Sergey Kuntz, the round was carried out with the help of a SAFT agreement, an investment contract that obligesOn a certain day, transfer tokens to investors.
The SAFT round was conducted by Pantera Capital, with the participation of ParaFi Capital, Blockchain Capital, Nima Capital and Spartan Capital Securities.
The funds raised will go towards the expansion of the 1inch team (at the moment28 people), as well as to develop and launch new products.Sergey Kunz told The Block:
Soon we will announce the roadmap of our project for the next two years.There will be two protocols – a lightweight, very efficient gas limit protocolOrders and Improved Liquidity Protocol.
1inch is a liquidity aggregator that connects multiple DEXs into one platform and helpsusers will decide on the best price for the token and the most profitable offers.
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Based on materialswww.theblockcrypto.com
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