1inch releases composable Restrict Order Protocol

Immediately, decentralized alternate 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 may even have the ability to work together with good contract logic, and have the ability to execute orders primarily based on oracle information. 

Limit orders were previously available to the DeFi ecosystem via a wide range of protocols together with Gelato and 0x, the latter which 1inch utilized. Nonetheless, the staff claims this new protocol shall 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, resembling Uniswap v3.

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

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“On prime of the protocol, advanced, personalized market making instruments may very well be constructed,” reads the announcement. “For instance, a device 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 utility in buying and selling or DEX environments, 1inch co-founder Sergej Kunz pointed in direction of a doable lending use case.