DApp de 1 inch își anunță propriul protocol de comandă limită care înlocuiește 0x

Distributed decentralized network 1inch are dezvaluit its new innovative protocol dubbed 1inch Limit Order Protocol. It will be available on different blockchain networks like Poligon, Ethereumși lanțul inteligent Binance.

Besides, it will also support other chains connected to the 1inch network. The 1inch Limit Order features allow users to buy and sell cryptocurrencies at a specific price. The new limit order protocol from 1inch gives users a higher level of flexibility and efficiency. The chances of users seeing their orders executed on time have significantly increased. At the same time, the execution time has substantially dropped.

This feature is also available in the 1inch DApp for some time, however, it was previously hosted on the 0x protocol. The distributed network says that the new protocol is much more efficient than 0x. Besides, unlike 0x and other legacy protocols, the 1inch Limit order charges no protocol fees. Also, the 1inch Limit Order Protocol is much more gas efficient.

Besides, the absence of fees is a welcome move for users placing small limit orders. Previously, the user with small limit order has to wait until the fee prices come down. Now the waiting period has come down significantly.

Some of the existing token standards supported by 1inch include ERC20/BEP20, ERC 721, and ERC1155. Besides, it also aims to support other token standards using its external extension.

1inch Limit Order Protocol: Dynamic Pricing and Conditional Execution

These are the two big features of the 1inch Limit Order Protocol which bring unmatched flexibility to its users. The dynamic price facilitates a customer price function on separate smart contracts. This is based on different properties which users find relevant such as oracles, supply and demand, etc.

On the other hand, conditional execution allows users to specify arbitrary conditions for order execution. This allows maximizing the earnings on different trading operations.

Besides, the protocol also enables the fulfillment of requests for quotations (RFQs). Thus, the buy and sell orders for the specific amount of cryptocurrencies are optimized for market makers.

Just like higher flexibility, its features translate into different use cases. This includes stop-loss and trailing stop orders. Explaining additional broader functionalities, 1inch notes:

Datorită caracteristicii de stabilire a prețurilor dinamice, protocolul poate fi utilizat pentru licitații. De exemplu, modulul Maker DAO Liquidation 2.0 se bazează pe modelul de licitație, iar utilizatorii ar putea participa la licitațiile Maker DAO, utilizând Protocolul de comandă limită de 1 inch.

Similarly, on top of the protocol, complex, customized market making tools could be built. For example, a tool of that kind would facilitate earning on a pair of assets pegged to the same currency, like USDC and DAI, which are both pegged to the US dollar”.

1inch says that security remains one of its most important concerns and thus the newly launched protocol has been thoroughly audited.

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Source: http://feedproxy.google.com/~r/coinspeaker/~3/yKyQPbY_PpQ/