Version 2 of the 1-inch Limited Contract is officially released

As the leader in DeFi, 1inch Network has strived to improve its process so that users can enjoy the best possible exchange in the field.

The June 2021 1-inch limited contract has been put into service. According to data from Dune Analytics, since then, more than 20,000 users have used the process to generate approximately 60,000 transactions, for a total volume of $ 2.9 billion. Now is the time to “make technology real” to improve your business and further reduce your costs.

1inch Network is pleased to announce the release of version 2 of the 1inch Limited Order Agreement.

In the new version, the rules have been reworked, optimized and simplified, and various commands have been moved to different files. At the same time, the exchange rates were lower. Some key features have also been added and the user experience has been further improved.

ETH restricts oil-free orders

This allows cryptocurrency to be traded for non-oil ETH. For example, when a user creates a restriction, all cryptocurrencies received via airdrops or purchased in fiat currency will be converted to ETH, even if the ETH balance is zero, as long as the cryptocurrency correctly supports it.

This is a one-time offer and no other contract can provide similar services. Users without ETH can trade with licensed cryptocurrencies. Currently 112 Ethereum cryptocurrencies, 33 Binance Smart Chain (BSC) cryptocurrencies, and 15 Polygon cryptocurrencies support the license. This includes popular currencies like USDC, AAVE, UNI, DAI, 1INCH, BAL ....

With fuel restrictions, access blocking for new users of the 1-inch protocol will be minimal. To start using the 1 inch protocol, users have at least cryptocurrency support and don't need to buy ETH or trade ETH through another exchange, they can trade directly.

Support for DAI type licenses

There are already many cryptocurrencies that support licensing in the first version of the 1 inch limited contract. In the second edition, the list of supporting licenses such as DAI cryptocurrency as well as previous licenses has been extended.

As a result, the current process supports many cryptocurrencies, and cryptocurrencies can use their licenses directly, so no exchange authorization is required.

Be kind to your request

The RFQ function is optimized for better performance, opening up new opportunities for manufacturers. In particular, manufacturers can now set up special beneficiaries to obtain licenses. This improves the protection of manufacturers against abuse.

Other improvements

Current users can immediately see if the order has been completed or canceled.

Support for ERC721 and ERC1155 cryptocurrencies has changed to separate smart contracts, allowing the security of 1 inch contract restrictions.

Use the fillOrderTo () and fillOrderRFQTo () functions to be able to represent the beneficiaries of the cryptocurrency.

The RFQ padding is now returned by doAmount and takeAmount.

order

Version 2 of the 1 inch Limited Contract has been independently reviewed by multiple reviewers.

ABDK report

serial murder report

Coinfab Report

Igor Goulamov report

MixBytes watch

pessimistic expression

report

You can see the rules for 1inch Limit Order Protocol v2 on github.

For more information on the limitations and how a 1 inch contract compares to other solutions, check out this article from 1 inch co-founder Anton Bukov.