Many thanks to Professor @besticofinder and the Steemit team for the immense effort they have made for the Steemit community Steemit Cripto Academy, this publication corresponds as my homework for week Nº7

1inch

It is one of the most recognized decentralized finance (DeFi) projects in the Blockchain, it has seen an incredible uptrend so far in 2021, the CEO and Co-Founder says that the main reason 1inch has seen this great expansion is due to the low cost of its fees.

1inch allows to get the most feasible exchange routes within all exchanges, it is an exchange aggregator (DEX), it saves users the process of manually checking the best prices in the market, as 1inch locates them easily and quickly.

This project was mainly carried out by its founders Sergej Kunz and Anton Bukov, the project has its origins since 2019 and was finally launched in August 2020, we can say that the project is relatively new, and was launched specifically when it achieved a raise of funds along with other partners such as: Binance Labs, Libertus Capital, FTX, among others.

How does it work?

1inch has a decentralized platform for exchanges, you can access it from this link Link.

The interface of the platform is quite friendly, by this I mean that it is simple and easy to understand, you can place the two cryptocurrencies for which you are interested to make the exchange and in real time the platform will locate the best prices to make the transaction.

You can connect your wallet directly to the platform, as you can see here, the platform supports different wallets, among them, Metamask which is the one I currently use.

Currently 1inch operates with two networks, started with Ethereum and recently added the expansion to Binance Smart Chain (BSC), this was a very important step and allowed an increase in the value of the 1inch token.

It also offers other categories such as governance, pools, farming, analytics and they are working towards dashboard. category.

The 1inch team is very active, likewise, they have a competition with the well known Uniswap platform a quite similar platform, currently 1 inch is in position # 114 in the ranking of cryptocurrencies by capitalization.

At the time of making this publication, 1inche has a capitalization of $594 million. The maximum reserve amount of this token is unknown, but there are a total of 1,500,000,000 total shares and approximately 149,386,421 tokens outstanding.

In this graph we can appreciate the variations of the market with respect to this currency, a quite bullish trend with a brutal increase of %, reaching a historical maximum of $5.7 per coin at the beginning of February of this year.

All the above images belong to the platform of 1inch

Reef Finance (Reef)

Reef's goal in the Blockchain ecosystem, is to serve as a liquidity aggregator and is a smart performance engine, it was developed by Polkadot (polkadot is a protocol dedicated to blockchain networks so they can operate together), it uses Polkadot's technology and allows cross-chain input, all through DeFi. In simple words Reef allows retail investors to access Defi, plus they want to avoid the high transactions of other networks like Ethereum.

This token is a government token, mainly used to make important decisions, such as internal system readjustments, the possibility of new features, among others.

The project counts with several important companies, among them we can highlight:

Source

Reef Finance's current position in the cryptocurrency ranking by capitalization is #135, it has an estimated capitalization of $412,671,736, has a total maximum share reserves 20,000,000,000,000, a fairly high number, 15,934,019,762 total tokens and outstanding 11,268,898,338.

Source

In this graph we can see a brutal increase in the value of Reef, from the beginning of the year to this month, almost quintupling its price.

Conclusion

Each user is responsible for their investments, however, after analyzing in a technical and social way these two cryptocurrencies, I can decide that I would invest mainly in Reef, the project that has above I like more, it gives me more security and have a very important integration with Binance Exchange, which is the most recognized and used worldwide, in addition, it emerged from Polkadot, a very important cryptocurrency these days, we must be attentive to the updates and important news that arise every day.

1inch seems to me that it also has potential, but certainly for this 2021 I have hopes in Reef Finance, I have not yet invested in this cryptocurrency.

Cc:-

@steemitblog
@steemcurator01
@steemcurator02
@besticofinder