In a significant leadership transition for one of the decentralized finance (DeFi) sector’s most prominent platforms, 1inch Network has officially confirmed that co-founder Anton Bukov is no longer associated with the project. The departure, which brings to an end a foundational partnership that began in 2019, follows a public disclosure by Bukov regarding his dismissal late last year and his subsequent pivot to a new venture.
The news has sent ripples through the crypto community, prompting questions about the future direction of the 1inch aggregator—a staple in the decentralized trading ecosystem. While 1inch has moved swiftly to assure stakeholders that operations remain uninterrupted, the exit of such a pivotal figure marks the end of an era for the protocol.
The Chronology of an Exit
The circumstances surrounding Bukov’s departure have been characterized by a divergence in narrative between the co-founder and the organization he helped build.
The November Dismissal
According to a statement posted on X (formerly Twitter), Bukov revealed that his tenure at 1inch came to an abrupt end in late November 2025. Bukov, who acted as a primary architect for the platform’s security and technical infrastructure, stated clearly that he no longer holds any operational, product, or security-related roles within the company.
The December Silence
Following the dismissal, a period of transition occurred throughout December 2025. 1inch confirmed that during this time, Bukov ceased all active contributions to the project. The company noted that this transition period was managed internally to ensure that the protocol’s roadmap remained on track despite the change in leadership.
The Announcement of "Second Tier"
Simultaneous with his public disclosure, Bukov announced the launch of a new DeFi project titled Second Tier (tier.xyz). Bukov described this new initiative as a venture dedicated to building "secure and efficient financial infrastructure." While the specifics of the protocol are still emerging, it signals a clear departure from the 1inch ecosystem into a new competitive space.
Bukov’s Legacy: Architecting the 1inch Infrastructure
Since the inception of 1inch in 2019, Anton Bukov has been synonymous with the technical evolution of the aggregator. His contributions were foundational to the protocol’s ability to navigate the complexities of liquidity fragmentation across Ethereum and other EVM-compatible chains.
Core Technical Contributions
Bukov’s work focused primarily on the protocol’s architecture, security, and economic design. His leadership was instrumental in the development of:
- The 1inch Router: A crucial component that optimizes trade execution paths, allowing users to find the best prices across multiple liquidity sources.
- Fusion Mode: A hallmark of the 1inch user experience, which offers gasless swaps and protects users against Maximal Extractable Value (MEV) attacks.
- Cross-Chain Infrastructure: The foundational layer enabling 1inch to operate seamlessly across different blockchain networks, a critical requirement for modern DeFi users.
Internal Aspirations and Friction
In his statement, Bukov noted that feedback from colleagues and users encouraged him to step into a more significant role regarding the company’s management and operational leadership. However, he implied that this push for greater involvement in the decision-making process ultimately collided with the existing executive structure, leading to his removal.
Despite his termination from daily operations, Bukov maintains a significant stake in the company, holding a 50% ownership interest. This creates a unique legal and corporate dynamic, as one of the firm’s largest shareholders remains completely decoupled from its day-to-day operations.
Official Stance: The 1inch Response
In the wake of the public announcement, 1inch issued a formal response designed to quell investor anxiety and reassure liquidity providers.
Operations and Strategy Continuity
1inch emphasized that the network’s operations are entirely unaffected by the personnel change. The company highlighted that the protocols, smart contracts, and backend infrastructure continue to function as intended. According to the firm, the roadmap established for 2026 remains unchanged, with the existing executive team moving forward with the project’s original vision.
Leadership Stability
The firm pointed to co-founder Sergej Kunz as the primary steward of the network moving forward. With the support of the existing executive leadership team, the company stated that it is well-positioned to maintain its competitive advantage in the DeFi space.
Notably, 1inch opted not to address the specifics of Bukov’s claim regarding his "dismissal." By focusing on the continuity of the platform rather than the interpersonal conflicts of its founders, 1inch is attempting to maintain a professional distance, treating the exit as a completed chapter in the organization’s corporate history.
Contextualizing the Departure: A Year of Security Challenges
The departure of a co-founder rarely occurs in a vacuum, and the 1inch ecosystem has navigated a turbulent 2025 regarding security and smart contract integrity. While there is no direct evidence linking these events to Bukov’s exit, they provide necessary context regarding the environment in which the leadership team was operating.
The Fusion V1 Incident (March 2025)
In March 2025, 1inch faced a significant security test when attackers exploited an obsolete Fusion V1 resolver contract. The exploit resulted in the loss of approximately $5 million.
- Scope: 1inch was quick to clarify that the exploit was limited to outdated resolver integrations and did not impact the live Fusion V2 protocol or end-user funds deposited in current pools.
- Resolution: In a positive turn of events, the company managed to recover the majority of the stolen assets through an agreement with the attacker, demonstrating the firm’s ability to handle high-pressure crisis management.
The December 2024 Private Key Breach
Prior to the 2025 incident, the network faced a different type of challenge in December 2024. A resolver smart contract was compromised following a private key breach. Similar to the subsequent incident, 1inch ensured that the core protocol remained secure and that user funds were protected from the vulnerability.
Security as a Corporate Mandate
These events highlight the immense pressure on the technical leads at a DeFi project of 1inch’s scale. The "architectural and security" focus that Bukov claimed as his own was, during this period, subject to extreme external scrutiny. Whether the shift in internal management was a response to these security hurdles or a byproduct of differing visions for the company’s future remains a matter of speculation.
Implications for the DeFi Ecosystem
The exit of Anton Bukov from 1inch is a significant development for the broader decentralized finance industry. It raises several key implications for the future of decentralized organizations:
1. The Challenge of "Founder-Centric" Governance
Many DeFi projects begin as small, tightly knit teams of developers. As these projects scale into multi-billion-dollar entities, the shift from a "hacker" culture to a "corporate" culture often creates friction. Bukov’s experience reflects the growing pains common in the industry as protocols transition from experimental prototypes to institutional-grade infrastructure.
2. Market Perception and Protocol Trust
For users, the primary concern is the integrity of the protocol. 1inch has managed to decouple its brand from the departure by emphasizing institutional continuity. By highlighting that the core team and the roadmap remain intact, the firm is successfully pivoting the conversation toward project stability rather than founder drama.
3. The Future of Competition
With the launch of Second Tier, the ecosystem may see a new competitor emerge, potentially drawing on the expertise of one of the industry’s most seasoned architects. If Bukov’s new project successfully addresses the security concerns that plagued the 1inch ecosystem in 2025, it could establish itself as a formidable alternative in the DeFi space.
4. Shareholder Dynamics
The fact that a departed co-founder remains a 50% shareholder is an unusual arrangement that will likely require careful corporate governance moving forward. It poses questions regarding how major strategic decisions will be made and whether this stake will eventually be liquidated or held as a long-term investment.
Conclusion: Looking Ahead
The departure of Anton Bukov from 1inch serves as a case study in the maturation of decentralized organizations. While the personal and professional circumstances of his exit remain subject to public interpretation, the protocol itself appears to be entering a period of consolidation.
Under the continued leadership of Sergej Kunz, 1inch is tasked with maintaining its dominant market share in the aggregator space while navigating an increasingly complex regulatory and security landscape. For investors, liquidity providers, and developers, the path forward is clear: the focus remains on the resilience of the code and the continued evolution of the Fusion protocol.
As the industry watches to see how Second Tier evolves under Bukov’s leadership, the 1inch Network continues its operations, betting on the strength of its remaining leadership team and the robustness of its existing architecture to weather this transition. Whether this split leads to a more agile 1inch or an innovative new challenger in the DeFi space, the events of late 2025 will undoubtedly be remembered as a pivotal moment in the project’s history.
