1inch releases composable Limit Order Protocol

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Right this moment, decentralized change and liquidity aggregator 1inch announce the launch of the 1inch Restrict Order Protocol. The brand new characteristic boasts 5 completely different safety audits, and can allow customers to purchase or promote property at particular value targets on Ethereum, BSC, and Polygon. The brand new characteristic can even be capable to work together with good contract logic, and be capable to execute orders based mostly on oracle information. 

Limit orders were previously available to the DeFi ecosystem by way of quite a lot of protocols together with Gelato and 0x, the latter which 1inch utilized. Nonetheless, the crew claims this new protocol will likely be extra gas-efficient and safe in that it doesn’t require admin keys, and that the protocol will add extra worth to the ecosystem through composability with different protocols, equivalent to Uniswap v3.

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Whereas the Protocol instantly provides to the performance of the 1inch change, there are a number of doable use circumstances that exterior groups have been invited to discover.

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“On high of the protocol, advanced, custom-made market making instruments might be constructed,” reads the announcement. “For instance, a device of that sort would facilitate incomes on a pair of property pegged to the identical foreign money, like USDC and DAI, that are each pegged to the US greenback.”

Along with clear software in buying and selling or DEX environments, 1inch co-founder Sergej Kunz pointed in the direction of a doable lending use case.