OUT 1 is the output pin of the first operational amplifier inside the LM358 dual op-amp IC (Integrated Circuit), made by Texas Instruments.

In general, operational amplifiers (or op-amps) amplify input signals. For an op-amp, it takes in two signals, one at the positive input (+IN) and the other at the negative input (-IN). The op-amp then amplifies the difference between those two signals.

The amplified difference is then outputted at the OUT pin. In this case, OUT 1 would provide the amplified output signal of the first operational amplifier in the LM358 package based on the difference between the signals at the +IN 1 and -IN 1 pins.

It's important to remember that the actual behavior of the OUT 1 signal could vary depending on the configuration of the op-amp circuit (how it's connected with other components like resistors, capacitors, etc.). These configurations could apply the op-amp in different roles such as a buffer, an inverting/non-inverting amplifier, a comparator, and more.

Since there are no connections made in the project, this is a general explanation. The actual function of OUT 1 could change once there is a full circuit design in place.