1inch, a step ahead to head on competing with Uniswap.
The relationship between the top two AMM in the defi market space.
Most of the crypto enthusiasts and crypto players have failed to notice what uniswap is doing in the market. It has recently stepped into the market but has seen tremendous growth in a very short period, unlike any other major exchange.
1inch launches its own governance token to compete with uniswap!
1inch and the Mooniswap users will get rewarded this Christmas by the team. The team will have a say on matters like referral rewards, fees, and other governance issues. The wallets that have interacted with 1inch before will get free 1inch tokens, this Christmas for free. The 1inch is a governance token that runs on the ethereum blockchain. But this free giveaway is based on some conditions drafted by the team.
This act might be inspired by Uniswap’s act of surprising its users by dropping free UNI tokens worth $1,000 the last September. 1inch however wants to keep their positions up in the market. Following Uniswao, 1inch has also launched its liquidity mining program for 1INCH liquidity providers.
Both 1inch and Mooniswap were initiated by the same execs. Now, Mooniswap has been rebranded as 1inch liquidity protocol, to make it easy for the team to consolidate all its startups under the same brand.
Sergej Kunz, the CEO of 1inch, hopes that the launch of 1inch governance tokens will help them make market just as how UNI did for Uniswap.
“With the right community incentives, we see a chance to get a critical mass of liquidity to beat Uniswap,” Kunz told media through a spokesperson.