This paper introduces HotStuff-1, a BFT consensus protocol that improves the latency of HotStuff-2 by two network hops while maintaining linear communication complexity against faults. Furthermore, HotStuff-1 incorporates an incentive-compatible leader rotation design that motivates leaders to propose transactions promptly. HotStuff-1 achieves a reduction of two network hops by speculatively sending clients early confirmations, after one phase of the protocol. Introducing speculation into streamlined protocols is challenging because, unlike stable-leader protocols, these protocols cannot stop the consensus and recover from failures. Thus, we identify prefix speculation dilemma in the context of streamlined protocols; HotStuff-1 is the first streamlined protocol to resolve it. HotStuff-1 embodies an additional mechanism, slotting, that thwarts delays caused by (1) rationally-incentivized leaders and (2) malicious leaders inclined to sabotage other's progress. The slotting mechanism allows leaders to dynamically drive as many decisions as allowed by network transmission delays before view timers expire, thus mitigating both threats.