How many records did 1inch break in 2024?

Let’s look back on the milestones we reached over an exceptional year.

This year, 1inch hit:

1. $155 bn in total swap volume – up over 33% from last year.
2. 10 mn users, a 26% year-on-year increase.
3. 53 mn swaps completed – a staggering 51% rise.

These numbers tell a powerful story of growth and the trust of our global community. More and more people are turning to 1inch for an efficient and reliable DeFi experience.

Fig. 1. Swap volume, user numbers and swap numbers in 2024 vs. 2023.

Classic swaps: trusted by millions 

Our users love the reliability and efficiency of 1inch classic swaps. In 2024, they accounted for:

• $120.5 bn volume, or 79% of our swap total.
• 50.4 mn swaps, or 95.7% of all swaps on 1inch.
• A 27% increase in user numbers.

Offering standard execution, classic swaps secure the best swap rates for users, making them a dependable choice for traders of all levels. So we weren’t surprised when the total number of classic swaps grew by 55.55% this year, proving that they’re still a user favourite.

Fig. 2. Swap volume.

Fig. 3. User numbers.

Fig. 4. Swap numbers.

Whether you’re using classic or Fusion swaps, 1inch automatically determines the swapping mode based on the conditions of each transaction to ensure maximum efficiency. While expert users can adjust settings to suit their needs, the system optimizes every swap for the best possible outcome. 

And speaking of outcomes  - Fusion swaps have also achieved impressive results this year.

Fusion swaps: increasingly valued by high-volume traders

Here’s the headline: total Fusion swap volume reached $23.9 bn. That’s a 47% increase on last year.

That’s still more impressive given a slight decrease in user numbers - because it makes the growth in volume per user even more striking. The story seems clear: most people find everything they need in classic swaps. But for the whales, Fusion is increasingly the number one choice. They value Fusion’s MEV protection - and the fact they don’t have to pay network fees.

Fusion+: pioneering seamless cross-chain swaps

It’s amazing to think that Fusion+ only launched in beta in September 2024. In just a few months, our latest cross-chain swap technology has handled:

• $56 mn in volume
• Approximately 3,000 distinct cross-chain token pairs

It’s clear that users love the simplicity of seamless cross-chain swaps - and executing in just two clicks.

Your trust drives our growth

This year, 2 mn people used 1inch for (at least) the second time. That’s a returning user growth of 118%. This is, without a doubt, our proudest achievement - because it means they’re not just trying us out, but making us their go-to choice for DeFi.  And despite representing only 20% of our community, returning users accounted for over half of the total swap volume: an impressive $82 bn.

At the same time, we welcomed 8 mn new users, who added $70 bn in swap volume. That’s a 40% increase.  The word seems to be spreading - and more and more people are discovering how efficiently they can trade with 1inch.

We’re building on our history of achievement

If we look at cumulative growth – representing progress over time – we also see a story of trust and success:

• Total swap volume now exceeds $572 bn.
• The user base has grown to over 21 mn.
• Nearly 130 mn swaps completed to date.

So, as brilliant as this year’s achievements are, they’re not an anomaly. They’re based on a longer-standing history of innovation and commitment to our community. 

Chain dynamics: striking performance on Base

Fig. 5. Swap numbers, broken down by network.

Fig. 6. Swap volume, broken down by network.

Fig. 7. User numbers, broken down by network.

In a remarkable year, one trend that stood out was the meteoric rise of Base. The network’s swap volume skyrocketed from $300 mn to nearly $10 bn, making it one of our fastest-growing chains.

While Ethereum remains the most widely-used network on 1inch, particularly among institutional traders, Base’s explosive growth demonstrates the increasing adoption of Layer 2 blockchains. This trend opens exciting opportunities for 1inch to continue supporting emerging networks and their users.

So what’s next?

2024 was a year of amazing progress, fueled by groundbreaking solutions like Fusion+ and the  confidence of our growing community. With even more innovations on the horizon, next year promises to bring new opportunities to make DeFi simpler, safer and more accessible for everyone.

2025 is going to be even more exciting! Stay tuned!