Decentralized exchanges (DEX) took the cryptocurrency landscape by surprise when it was introduced. These exchanges facilitate peer-to-peer trading, with its entire operation distributed through a series of nodes. Users will not have to worry about KYC and AML norms, and the entire exchange does not run the risk of server downtime. With such a prodigious and beneficial platform in place, there was only one drawback users faced, a first-world problem that required a simple solution in the form of DEX aggregators.
DEX Aggregation was an idea that occurred to the founders of the 1inch protocol, who were also ironically the first users of it. They found it difficult to keep switching between a multitude of DEXs to find the best platform to initiate token swaps. Manually checking every exchange for the best swap rates proved to be a laborious task. Therefore they came up with DEX algorithms, which made easy this tiring ordeal. And the workflow was straightforward. DEX aggregators offer users a slew of benefits like the ability to optimize slippage, swap tokens and coins for a better rate, and reduce the probability of failed transactions. One such distinguished platform is the 1inch exchange.