DEX-aggregator 1inch introduced the second version of the protocol for operations with limit orders – 1inch Limit Order Protocol v2. Gas-free swaps of tokens supporting permits are available to users, project representatives told ForkLog.
The 1inch app limit order protocol was launched in June 2021. According to Dune Analytics, more than 20,000 addresses have used the function since then, completing about 60,000 transactions with a total volume of $ 2.96 billion.
The new version of the protocol allows for a “gas-free” exchange of tokens for ETH. Thanks to this, users who do not hold Ethereum on the balance sheet can interact with the aggregator.
The service is available for tokens that support permissions. This feature, offered in EIP-2612, allows you to pay transaction fees using ERC-20 assets using the tokens themselves, rather than ETH.
On the Ethereum network, 112 assets are supported by permissions. Binance Smart Chain and Polygon have a similar feature. In the first, 33 projects are compatible with it, in the second – 15. We are talking about tokens like Aave (AAVE), Uniswap (UNI) and Balancer (BAL).
The developers have also optimized the RFQ trading mode. For example, market makers can appoint a specific taker to execute an order.
The audit of 1inch Limit Order Protocol v2 was conducted by several companies at once, including Certik and Pessimistic. The source code of the protocol has been uploaded to the GitHub repository.
As a reminder, in November 1inch introduced the fourth version of the liquidity aggregator protocol with DEX.
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