1inch publish composable limited order protocol

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Today, the 1inch decentralized exchange and liquidity aggregator announces the launch of the 1inch limit order protocol. The new feature offers 5 different security audits and will allow users to buy or sell assets at specific price targets on Ethereum, BSC and Polygon. The new functionality will also be able to interact with smart contract logic and execute commands based on Oracle data.

Limit orders were previously available to the DeFi ecosystem through a variety of protocols, including Gelato and 0x, the latter used by 1 inch. However, the team claims that this new protocol will be more gas efficient and more secure because it does not require administration keys and that the protocol will add additional value to the ecosystem through composability with other protocols, such as as Uniswap v3.

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While the protocol immediately adds to the functionality of the 1-inch exchange, there are multiple possible use cases that external teams have been asked to explore.

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“In addition to the protocol, complex and personalized market making tools could be built,” the ad read. “For example, such a tool would facilitate gains on a pair of assets pegged to the same currency, such as USDC and DAI, both of which are pegged to the US dollar.”

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In addition to a clear application in trading or DEX environments, 1inch co-founder Sergej Kunz highlighted a possible loan use case.