The 1INCH token is the utility and governance token of the 1inch protocol and can be used for holding, spending, sending or staking.
As the platform’s governance token, 1INCH token holders can vote on and propose updates to the 1inch protocol, such as how fees are structured and distributed across platform users.
Aggregation protocol governance determines how ‘spread’ (the difference between the quoted price and executed price of the transaction) is distributed amongst users. Liquidity protocol governance determines the parameters of each liquidity pool on the platform, such as fees, rewards and other incentives
