The 1inch token is used as a governance token for the 1inch network, which is a decentralized exchange (DEX) aggregator that connects multiple DEXes into one platform, and allows its users to find the most efficient swapping routes across all platforms. 1inch allows traders to source the best liquidity options and rates from different exchanges without having to check them manually.
1inch was founded by Sergej Kunz and Anton Bukov, and was launched in 2020. It is backed by several influential investors, including Binance Labs, Galaxy Digital, Greenfield One, Libertus Capital, and Dragonfly Capital. The network is governed by a decentralized autonomous organization (DAO).

Uniswap is a decentralized exchange that facilitates automated transactions between Ethereum-based tokens. It is designed to be an open-source platform with an automated market maker (AMM) model. Instead of using an order book, token trades are facilitated directly between users through a liquidity pool and prices orders with an algorithm that relies on the equation x*y=k to create a price spectrum for token pairs available in the liquidity pools provided by other users. Uniswap tokens are used as a governance token and as an incentive for users to fund the liquidity pools. Since the platform is decentralized, all the trading fees collected are distributed among the liquidity providers; according to the share that they provide in the liquidity pools.
Uniswap is one of the largest decentralized exchanges (DEX) and one the largest cryptocurrency exchanges overall by daily trading volume. The platform was originally created by Hayden Adams, a former mechanical engineer at Siemens. It is backed by some influential venture capital funds, including: Andreessen Horowitz, Paradigm Venture Capital, and Union Square Ventures.