1inch is a DEX aggregator that finds the best swap price for users across multiple decentralized exchanges.
Network: Ethereum | Arbitrum | Polygon
Platform: Flagship | Assembly
Why use an aggregator?
There are many popular Decentralized Exchanges across DeFi such as Uniswap, Sushiswap, Curve and many others. Each of these exchanges operate separately so there can be price dislocations across the different exchanges. For example let's say you are trying to swap USDC for ETH, ETH might be $3,200 on Uniswap but $3,185 on Sushiswap. 1inch will find the lower price on Sushiswap for you and execute the swap at the lower price than if you had just gone to the Uniswap frontend and transacted.
How is it used in Instadapp?
Instadapp utilizes 1inch when performing swaps. These can be done through swapping one asset for another using the right side sidebar, or utilizing a strategy that requires swaps. This is done to help ensure users are getting the best price and avoid temporary price dislocations or lack of liquidity that can come from using a single exchange.