Lido and 1inch’s partnership aims to streamline the swapping process for stETH, wstETH, and ETH, particularly during the unstaking phase.

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In a historic move that sets a precedent for decentralized autonomous organizations (DAOs), 1inch DAO, the entity behind the 1inch Network, has voted to secure “legal advisory services” from STORM Partners. Notably, this decision comes amid growing regulatory scrutiny on the crypto and decentralized finance (DeFi) sectors.

1inch DAO Votes To Onboard STORM Partners For Legal Advisory Services

Following voting that ended on January 9–overwhelmingly supported by the 1inch community–holders decided to onboard STORM Partners. This marks a significant step forward in the DAO’s efforts to navigate the complex legal landscape and protect its members. 

With STORM Partners on board, 1inch DAO becomes the first autonomous organization in the broader crypto ecosystem to access expert guidance on compliance, governance, and legal defense. Out of this landmark move, the DAO will receive expert legal advice.

As such, they will strive to operate within the confines of applicable laws and regulations in the United States and beyond. 

This move is particularly noteworthy given the recent United States Securities and Exchange Commission (SEC) concerns over the crypto industry and the DeFi sector. From lawsuits, the agency noted that individuals who engage in illegal activities, including offering unregistered securities, via a DAO could be sued individually.

To illustrate, following a lawsuit from the SEC, BarnBridge DAO agreed to stop selling what the agency said were “unregistered securities.” As part of the settlement, the DAO and its two founders, Tyler Ward and Troy Murray, agreed to pay $1.7 million in damages.

Lawsuits Have Devastated DAOs In The Past

By onboarding legal counsel, 1inch DAO proactively addresses these concerns. It also aims to protect community members against the bruises of the law.

The DAO said the decision was a “deliberate effort to balance preserving decentralization and addressing operational challenges.” Through STORM Partners, the DAO will have a framework and receive legal support, laying a path for others to follow.

This decision considers the adverse impact of a lawsuit from a government agency like the SEC. In June 2023, US District Judge William H. Orrick ruled in favor of the US Commodity Futures Trading Commission (CFTC), agreeing that Ooki DAO issued unregistered commodities.

In a statement, the 1inchDAO new legal partner, STORM, stated the following, hinting at the services and the way they will attempt to protect the entity:

Our team will cover, among others, cross-jurisdiction regulatory compliance, contractual agreements, DAO governance framework, members’ liability, legal personality, asset protection, intellectual property, enforcement of rights and defence against external claims. Our legal representation, underpinned by community-guided Power of Attorney, is meant to ensure the DAO’s stability, efficiency and longevity.

Furthermore, by onboarding a legal advisor, the community aims to protect the DAO’s decentralization while maintaining “regulatory compliance.” It remains to be seen if other DAOs will follow suit and vote to elect a legal representative for their communities.

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CoinMarketCap, the world’s most-referenced crypto price-tracking website, reports 1INCH, Filecoin, and Klaytn as top gainers with double-digit gains in the last 24 hours.

The post 1INCH rings in new year as top crypto gainer appeared first on CryptoSens.

This article has been deleted after the original source (Ellipsis) has removed the information the news piece was based on.

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1inch Investment Fund has purchased 6,088 ETH for $10 million, taking advantage of the Ethereum price dip.

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1inch Network is integrating its decentralized exchange (DEX) aggregation protocol on Ethereum’s layer-2 solution, Base

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1inch Network’s native token, 1INCH, is down 34% in the past 24 hours, making it the biggest loser among the top 100 assets ranked by market capitalization

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According to the data provided by Token Unlocks, the market for cryptocurrency tokens saw a substantial injection of liquidity this past week that amounted to more than $83.38 million.

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Binance, the world’s largest crypto exchange, has announced that it will move Shiba Inu (SHIB), 1INCH, Trust Wallet Token (TWT), and Frax Share (FXS) out of the innovation zone on April 18.  The move comes after Binance conducted its periodic…

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The price of One-inch (1INCH) has shown some great strength in recent times against tether (USDT) as the price gears up for a rally to the $1.3 mark. Bitcoin’s (BTC) price has shown a little strength bouncing off from key support, leading to most crypto assets popping out from their shell, with the price of One-inch (1INCH), not an exception. (Data from Binance)

One-inch (1INCH) Price Analysis On The Weekly Chart 

The price of 1INCH has recently shown a measure of strength, bouncing off from a low of $0.5 to a region of $0.75. The price of 1INCH has had quite an adventure, dropping from an all-time high of $7.8 to a low of $0.5 on the weekly chart.

The price of 1INCH formed weekly support at the low region; the price of 1INCH has continued to build strength with more buy orders being set for this crypto asset.

1INCH price is faced with a resistance at $0.83 to break above and trend to the $1.3 mark; if the structure of 1INCH is maintained, this will be achievable.

The price of 1INCH is trading above its weekly support at $0.5, with eyes set for more highs. 

Weekly resistance for the price of 1INCH – $0.83.

Weekly support for the price of 1INCH – $0.55.

Price Analysis Of 1INCH On The Daily (1D) Chart
Daily 1INCH Price Chart | Source: 1INCHUSDT On Tradingview.com

After falling to a daily low of $0.5, the price of 1INCH on the daily bounced off this region as it has formed good support, as price rallied to a region of $0.7 where the price is faced with resistance to breaking higher to a region of $1. 

The price of 1INCH needs to maintain its bullish structure with more buy orders for the price to break above the current resistance at $0.7.  

1INCH trades at $0.7 below the 50 and 200 Exponential Moving Average (EMA). The prices at $0.7 and $1.1, corresponding to 50 and 200 EMA, will continue to keep the price of 1INCH from going higher.

Daily (1D) resistance for the 1INCH price – $0.7-$1.

Daily (1D) support for the 1INCH price – $0.55.

Price Analysis Of 1INCH On The One Four-Hourly (4H) Chart
Four-Hourly 1INCH Price Chart | Source: 1INCHUSDT On Tradingview.com

The price of 1INCH in the 4H timeframe has continued to look bullish after breaking out of the symmetrical triangle; with the price rallying to a high of $0.7, it faced resistance, and the price was rejected. 

If the price of 1INCH holds above the 50 EMA acting as support for the price, holding above this support area will be key to continuing its bullish sentiment. 

1INCH price needs to flip the resistance at $0.72, which corresponds to the 200 EMA, to have a better chance of trading close to the $1 mark. If the price of 1INCH fails to hold its support at $0.68, we could see the price of 1INCH revisiting its key support.

The Relative Strength Index (RSI) for 1INCH on the 4H chart is above 50, indicating buy order volume for the 1INCH price.

Four-Hourly (1H) resistance for the 1INCH price – $0.7.

Four-Hourly (1H) support for the 1INCH price – $0.68.

Featured Image From zipmex, Charts From TradingView.com 

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