DEX aggregator 1inch raises $12 million in SAFT sale

Quick Take

  • Decentralized exchange aggregator 1inch has raised $12 million in Series A funding.
  • The funds were netted via a SAFT sale, 1inch CEO Sergej Kunz told The Block.
  • As for the 1inch token launch, some “bottlenecks” are yet to be cleared, said Kunz.

Decentralized exchange (DEX) aggregator 1inch has raised $12 million in Series A funding.

The round was facilitated through a simple agreement for future tokens (SAFT) sale, 1inch co-founder and CEO Sergej Kunz told The Block. A SAFT is an investment contract that promises the delivery of tokens at a future date.

1inch's SAFT round was led by Pantera Capital, with participation from ParaFi Capital, Blockchain Capital, Nima Capital, and Spartan Group, among others.

The funds will go towards 1inch's team expansion (it now counts 28 people), as well as new product and protocol launches, Kunz told The Block.

"We are soon going to announce our product roadmap for the next two years. This includes a lightweight, very gas-efficient limit order protocol and an improved liquidity protocol."

1inch is a liquidity