1inch is a decentralized finance (DeFi) platform that acts as a decentralized exchange (DEX) aggregator. It sources liquidity from various decentralized exchanges to provide users with the best possible trading rates for their cryptocurrency transactions.When a user wants to swap tokens, 1inch analyzes multiple DEXs to find the most favorable prices, minimizing slippage and improving efficiency. It achieves this by breaking a trade into smaller parts and routing each part through different exchanges, ensuring optimal pricing.Additionally, 1inch offers features like limit orders, which allow users to set specific prices for trades, and liquidity pools where users can provide liquidity and earn rewards. The platform uses its native token, 1INCH, for governance and to incentivize users within its ecosystem. Overall, 1inch enhances the trading experience by making it easier for users to find the best rates while interacting with a variety of DEXs.