1inch is a decentralized finance (DeFi) platform that sources liquidity from different DEXs to find the most efficient swap routes for users. This helps traders get the best prices for their trades with minimal slippage.

"Since migrating to Commonwealth about a year ago, it has quickly become an indispensable tool, elevating the DAO’s decision making processes while remaining aligned with our core values."

Jordan Reindl,
1inch Governance Lead

Problem

While 1inch was growing quickly, it lacked an effective virtual town square. Without one, they could not successfully hear or vote on ideas, nor maintain a historical record.

They wanted a platform that made it possible to:

• link discussion to voting
• incorporate Web3 native features
• increase engagement among their community

Alternate discussion forums did not solve this problem for 1inch. They were dissatisfied with their experience running their forums on Discourse and needed a new solution.

1inch operates as a decentralized autonomous organization (DAO). This means that the platform's development, governance, and key decisions are managed by the community of 1INCH token holders, rather than a centralized authority.

This absence threatened the platform's collaborative capabilities and long-term sustainability.

1inch on Common

Discussions on Common:
Forum Migration to Common
Forum Migration Temperature Check

Integrated Snapshots
1inch DAO Signaling Proposals
1inch Network Proposals

Solution

Common’s robust, integrated Governance Forum, purpose built for DAO governance.

The 1inch Network DAO governance process operates through a community-driven approach on Common’s Governance Forum. The platform addresses the challenges of decentralized decision-making and community engagement for the 1inch network.

Here's how Common facilitated the solution:

1. Consolidated Platform for Governance

• Common provided a forum for the 1inch community to discuss, propose, and vote on 1inch Improvement Proposals (1IPs), streamlining the governance process
• Voting is done via Snapshot integration, with 1inch DAO using SafeSnap for on-chain execution of off-chain voting

2. Inclusive Participation

• Common's platform, with its strong moderation and robust gating features, empowers everyone in the 1inch DAO community to participate in governance initiatives and freely express their opinions
• Fosterung diverse perspectives, enriching the governance process, and boosting overall participation

3. Accelerated growth & Project Evolution

• By uniting the community, Common accelerated 1inch's growth and development, enabling quicker decision-making and improvements while maintaining the project's integrity

4. Incorporated Web3 Innovations

• Common is built for Web3. With a native forum, snapshot integration for voting, and Web3 features like gating and wallet login
• Communities on Common historically garner a 2-3x increase in token holder engagement relative to web 2

Results

1inch has been one of Common’s most engaged communities, since their launch in 2023

500+ threads*
3600+ members*

Common addressed 1inch's governance challenges by providing a structured, inclusive, and efficient platform for community engagement and decision-making. This solution not only streamlined the governance process but also fostered a stronger, more cohesive community dedicated to the continuous improvement and success of the 1inch network.

*As of June 2024