The 1inch Aggregation Protocol routes users' trades through the most efficient path for a token swap and aggregates multiple non-custodial exchanges.

The 1inch Network unites multiple decentralized protocols built on Ethereum and other blockchains. This dashboard tracks the 1inch Aggregation Protocol, which is a non-custodial DEX aggregator. 1inch was founded by Sergej Kunz & Anton Bukov and launched in 2019.

The 1inch Network is governed by 1inch DAO – a decentralized autonomous organization. Voting on the DAO is performed through the 1INCH token, a governance token, that was initially distributed to the community of 1inch Network users in late 2020. They currently do not take a cut of the total trading fees paid by traders (revenue). 1inch's investors include ParaFi Capital, FTX Exchange, Pantera Capital, etc.

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# 1inch Token incentives Methodology

## 1. Overview

The 1inch token incentives metric measures the daily USD value of 1inch tokens distributed through liquidity incentive programs, specifically the Gas Refund Program. This metric captures the amount of 1inch tokens paid out to users as gas refunds, providing insight into the protocol's spending on user acquisition and retention incentives. The calculation aggregates claimed gas refund events from Ethereum, converts token amounts to USD using end-of-day prices, and presents the data as daily totals.

## 2. Data sources

- **Blockchain events**: Parsed Ethereum `GasRefundProgram_Claimed` event logs from 1inch's gas refund contract
- **Token data**: 1inch token contract address and metadata for decimal conversion
- **External data**: End-of-day price feeds for 1inch token USD conversion
- **Account mappings**: Hardcoded account name mappings for incentive program identification

## 3. Step-by-step calculation

### Component A: Raw event extraction
- **Purpose**: Extract gas refund claim events from Ethereum blockchain
- **Logic**: Parse `GasRefundProgram_Claimed` events from 1inch's gas refund program contract on Ethereum. Each event represents a user claiming gas refunds paid in 1inch tokens. Extract the event's block timestamp, transaction hash, log index, contract address, and claimed token amount. Apply business metadata including business line as "DEX Aggregator", market sector as "exchanges", business segment as "dex_aggregator", and version as "v1". Set the token address to the hardcoded 1inch token contract address.
- **Key fields**: `block_timestamp` for timing, `amount` for token quantity, `address` for the claiming account, `transaction_hash` and `log_index` for event identification

### Component B: Account dimension enrichment
- **Purpose**: Add descriptive account names to incentive distribution addresses
- **Logic**: Join the raw events with a dimension table containing account address to name mappings. Currently maps the gas refund program contract address to "Gas Refund Program" account name. This provides human-readable labels for the different incentive programs.
- **Key fields**: `account_address` for matching, `account_name` for descriptive labeling

### Component C: Daily aggregation and timestamp processing
- **Purpose**: Group incentive amounts by day for daily metric calculation
- **Logic**: Truncate block timestamps to daily boundaries using timestamp truncation. Group all incentive events by the truncated date, summing the token amounts for each day. Set timestamp grain to "day" to indicate daily aggregation level.
- **Key fields**: `timestamp` truncated to day level, `token_incentives` as the aggregated daily amount

### Final aggregation
- **Combining components**: Join the raw event data with account dimension data on account address, then aggregate by daily timestamps
- **Currency conversion**: Convert 1inch token amounts to USD using end-of-day price feeds, applying proper decimal correction for the 1inch token's 18-decimal precision
- **Time aggregation**: Aggregate all incentive events within each calendar day (UTC), summing token amounts to get daily totals
- **Final calculation**: Sum all gas refund claims per day, convert the total 1inch tokens to USD value using end-of-day prices, and apply zero-filling for any missing dates to ensure continuous daily time series data

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Value of native tokens distributed as incentives.

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Token incentives

Token incentives

Competitive landscape

Chain breakdown