2 years ago
Users tin present marque a swap of immoderate token connected 1inch supported chains without intermediaries.
The decentralized speech aggregator 1inch Network introduced peer-to-peer, oregon P2P, bid functionality wrong the 1inch decentralized application, oregon DApp. This diagnostic allows users to specify the idiosyncratic oregon wallet that volition capable the different broadside of the trade, arsenic opposed to over-the-counter oregon OTC payments wherever 1inch matches the bid with a taker.
1/ It’s clip to broaden the scope of DeFi services disposable to our users!
#1inch is blessed to present a #P2P feature, which facilitates ️ unafraid #crypto swaps betwixt idiosyncratic users.
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According to the institution website, this "opens the doorway to a full caller world" of imaginable usage cases, including transactions wrong NFT marketplaces, auctions oregon reverse auctions. Although different services similar Binance Pay oregon Bybit enactment P2P payments, the institution said that they person "stepped successful to capable the gap" successful request for this benignant of service.
1inch claimed that their P2P work offers trustless swaps backed by astute contracts and implicit decentralization. Users tin nonstop orders via email oregon to immoderate messenger using URLs that bypass 1inch’s backend. Within the Twitter thread, the institution specified that participants are capable to acceptable the swap magnitude to the existent marketplace complaint oregon to trim and summation the complaint by 5% intervals. Expiration dates tin besides beryllium acceptable to anytime betwixt 10 minutes and 7 days.
The astir communal usage cases for P2P orders include situations erstwhile liquidity for a definite token is not capable for a ample OTC woody oregon successful the lawsuit of tokens successful the presale stage. The P2P diagnostic is built connected apical of the 1inch Limit Order Protocol and is disposable connected the pursuing chains: Ethereum, BNB Chain, Polygon, Avalanche, Optimistic Ethereum, Arbitrum and Gnosis Chain.
Related: P2P payments spurred crypto adoption crossed Venezuela successful 2021
Recently, Cointelegraph interviewed Anton Bukov, the co-founder of 1inch Network, who said that helium believes that Ethereum volition apt go the main colony furniture for a multi-chain ecosystem.
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