1inch releases composable Limit Order Protocol

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 belongings at particular worth targets on Ethereum, BSC, and Polygon. The brand new characteristic will even be capable to work together with good contract logic, and be capable to execute orders primarily based on oracle knowledge. 

Restrict orders have been beforehand out there to the DeFi ecosystem by means of a wide range 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 further worth to the ecosystem through composability with different protocols, equivalent to Uniswap v3.

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

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“On prime of the protocol, advanced, custom-made market making instruments may very well be constructed,” reads the announcement. “For instance, a instrument of that sort would facilitate incomes on a pair of belongings pegged to the identical forex, 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 direction of a attainable lending use case.