1inch Network DAO is a decentralized autonomous organization that governs the 1inch Network. DAO governance decisions can range from allocating Treasury funds for a particular proposal, to deploying a new protocol on the 1inch Network, and everything in between.
The creation of the 1inch Network DAO marked the move towards full-fledged DAO functionality, providing the community direct control over extended governance mechanisms. All participants in the DAO are working towards a common goal: 1inch Network protocols and the 1INCH token to be completely decentralized, owned and governed by the DAO.
1INCH token is the governance token of the 1inch Network DAO. Anyone may participate in the DAO’s discussions, however only users with 1inch governance tokens may vote on proposals. To ensure that all participants in the governance process have a vested interest in the success of the project, holders of 1INCH must first deposit it in the staking contract (see Voting Process).