As an idea and a general concept, this project looks fantastic.
I haven't actually used it, but as I went through the homepage, everything makes sense to me. I don't see unnecessary complexities.
The biggest benefit is the ability to access multiple liquidity providers from one platform, similar to how Forex brokers have access to multiple liquidity providers such as banks.
One thing that's sorely lacking on many crypto trading platforms is the ability to set pending/complex orders, like you can in almost any other trading market. The fact that 1inch provides the ability to set stop losses is a huge benefit. It also looks like there will be the ability in the future to create other types of orders like OCO (order cancels order) and entry stops/limits. They do have trailing stop losses, but those are generally useless and usually lead to losses.
Their auction feature looks like it will be useful and Dutch Auctions are already used in the IPO of stocks.
I'm not a fan of governance through token ownership equals vote percentage because it's too easy for a whale to come in and start running the show. However, there is certainly a need for DAOs and the success or failure of a DAO will be determined by the governance structure. 1inch uses a mechanism in which you get more voting power based on the amount of time you stake your tokens. That makes sense to me and will filter out people who are only looking for a pump and dump.
Obviously, a lot depends on if they can actually deliver on these concepts, but it looks like a solid project. Show Less
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