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 Treasury (net) Methodology

## 1. Overview

The 1inch treasury net metric measures the total USD value of tokens held in 1inch's official treasury wallet on Ethereum. This metric provides insight into the protocol's treasury management and financial reserves by tracking the aggregate value of all tokens (excluding the protocol's native 1INCH token) held in the designated treasury address. The calculation involves tracking token balance changes over time, converting balances to USD values using daily price feeds, and aggregating across all tokens to produce a daily time series of treasury net worth.

## 2. Data sources

- **Ethereum token transfers**: Parsed `Transfer` events from ERC20 token contracts to track token movements in and out of treasury addresses
- **Transaction traces**: Ethereum transaction execution traces to capture contract interactions and token transfers
- **End-of-day price feeds**: Daily token price data in USD for converting token balances to dollar values  
- **Token metadata**: Token symbol, decimal precision, and contract address information
- **Blockchain events**: Ethereum event logs capturing token transfer activities

## 3. Step-by-step calculation

### Component A: Treasury balance tracking
- **Purpose**: Tracks token balance changes for the 1inch treasury wallet over time
- **Logic**: Monitors token flows for the specific treasury address `0x7951c7ef839e26f63da87a42c9a87986507f1c07` on Ethereum. The system processes all `Transfer` events and transaction traces to identify when tokens move into or out of this address. Balance changes are calculated by tracking the net difference between inflows and outflows for each token on each day. The native 1INCH token (contract `0x111111111117dc0aa78b770fa6a738034120c302`) is explicitly excluded from the calculation to focus on external token holdings rather than the protocol's own token reserves.
- **Key fields**: `account_address` (treasury wallet), `token_address` (ERC20 contract), `balance` (net daily change), `timestamp` (daily boundaries)

### Component B: Cumulative balance calculation
- **Purpose**: Converts daily balance changes into running cumulative token balances
- **Logic**: Takes the daily balance changes from Component A and applies a cumulative sum calculation using window functions. The cumulative calculation is partitioned by `timestamp_grain`, `chain_id`, `account_address`, and `token_address` to ensure separate running totals for each unique combination. This produces the actual token balance held at each point in time rather than just the daily changes.
- **Key fields**: `balance` (cumulative running total), partitioning dimensions for accurate calculations

### Component C: Data continuity and forward-filling
- **Purpose**: Ensures continuous daily time series data by filling gaps where no transactions occurred
- **Logic**: Uses forward-fill logic to propagate the most recent balance forward to subsequent days when no token transfers occurred. This prevents gaps in the time series and ensures that the treasury balance is represented on every day, even when there were no transactions. The forward-fill is applied separately for each unique combination of token and account to maintain data integrity.
- **Key fields**: `timestamp` (daily intervals), `balance` (forward-filled values)

### Component D: USD conversion
- **Purpose**: Converts token balances from native units to USD values
- **Logic**: Joins the forward-filled token balances with end-of-day price feeds to convert each token's balance to its USD equivalent. The join matches on `timestamp`, `chain_id`, and `token_address` to ensure correct price application. Only balances greater than zero are included in the USD conversion to exclude tokens that are no longer held. The multiplication uses safe arithmetic to handle potential null values or calculation errors.
- **Key fields**: `amount` (USD value), `price_usd` (daily token prices), filtering for positive balances only

### Final aggregation
- **Combining components**: The USD values from Component D are aggregated by summing all token values for each day to produce the total treasury net worth
- **Currency conversion**: USD conversion occurs using end-of-day price feeds matched by exact timestamp, chain, and token address
- **Time aggregation**: Data is aggregated to daily boundaries with timestamp grain set to 'day'
- **Final calculation**: The final treasury net value equals the sum of all positive token balances multiplied by their respective end-of-day USD prices, excluding the protocol's native 1INCH token holdings. Missing days are filled with zeros using the fill_zeros strategy, and chain availability filtering ensures data quality standards are maintained.

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

Total value of a project's treasury excluding its native token.

1inch1INCH

Treasury (net)

Treasury (net)

Competitive landscape

Chain breakdown