1inch releases composable Limit Order Protocol
June 10, 2021. Summarized by summa-bot.
Compression ratio: 39.3%. 1 min read.
A feature or a protocol? 1inch's new Limit Order Protocol could have use cases far beyond letting traders set stop losses.
Today, decentralized exchange and liquidity aggregator 1inch announce the launch of the 1inch Limit Order Protocol.
Limit orders were previously available to the DeFi ecosystem through a variety of protocols including Gelato and 0x, the latter which 1inch utilized.
When a position is ready to be liquidated, just a limit order can be placed by the lending protocol smart contract to offer arbitragers to exchange the collateral token for the debt token through a unified and highly efficient interface / protocol,” he said.
The Limit Order Protocol isn’t the only new release from 1inch.
Yesterday, Curve announced the launch of a new algorithm that enables the protocol to create pools for volatile assets.
1inch was noted as an early partner of the new functionality, with 1inch’s liquidity aggregation having access to the Curve TriCrypto pool at launch.