The Ethereum network continues to face challenges with high gas fees, making DeFi inaccessible for many users except those with substantial resources. To retain users and liquidity, exchanges are adapting by integrating Layer 2 solutions or migrating to faster networks.
On February 25, the 1inch Foundation announced the deployment of the 1INCH token on Binance Smart Chain (BSC), enabling BSC users to access the 1inch Aggregation Protocol and Liquidity Protocol.
The announcement included a playful nod to Ethereum’s high fees:
“Crossing the hell of burned Ethereum lands our hero stumbles upon the mysterious yellow portal.”
Binance CEO Changpeng Zhao (CZ) humorously acknowledged the update on Twitter.
Bridging Binance and Ethereum
By deploying the 1INCH token on BSC, the exchange aims to facilitate cross-chain transactions between Binance Smart Chain and Ethereum. Users can lock tokens in Binance Bridge, unlocking equivalent tokens on BSC.
This integration allows 1inch users to explore popular DeFi platforms on BSC, including:
- PancakeSwap
- BurgerSwap
- Venus
- JulSwap
- BakerySwap
An initial 10 million 1INCH tokens were issued on BSC, exclusively for liquidity on Binance Bridge—without increasing total supply.
Sergey Kunz, 1inch co-founder and CEO, stated:
“We see a significant opportunity for 1inch Liquidity Protocol to become the biggest liquidity protocol on Binance Smart Chain, as it’s already the most efficient AMM protocol in the market.”
A liquidity mining program launched on February 26, featuring a BNB/1INCH pool distributing 0.01% of total supply over four weeks.
1INCH Token Performance
The token surged 10% following the announcement, trading at $4.30 at press time—defying broader market declines.
Key milestones:
- All-time high: $5.80 (February 6)
- Year-to-date growth: 200%+
According to DappRadar, 1inch holds $1.36 billion in TVL**, down from its **$2.3 billion peak in mid-February. Notably, DeFi Pulse excludes 1inch due to a dispute with its founders.
FAQs
Why did 1inch deploy on Binance Smart Chain?
To reduce dependence on Ethereum’s high fees and expand accessibility to BSC’s growing DeFi ecosystem.
How does cross-chain bridging work?
Users lock tokens on Ethereum via Binance Bridge, unlocking equivalent tokens on BSC—enabling seamless transfers.
What DeFi platforms support 1INCH on BSC?
PancakeSwap, Venus, and BurgerSwap are among the top platforms integrating 1INCH liquidity.
Is the total token supply increasing?
No—only 10 million 1INCH were issued for BSC liquidity, maintaining fixed supply.
Why isn’t 1inch listed on DeFi Pulse?
A disagreement between founders led to exclusion, despite significant TVL.
👉 Explore BSC’s top DeFi platforms for optimized yields and lower fees.
This strategic move positions 1inch as a multi-chain leader, combining Ethereum’s security with BSC’s efficiency—a win for DeFi users.