- Anton talks about it as part of the Incrypted Conference 2023 online marathon.
- The solution is available under MIT license to anyone who wants it.
- It has powerful benefits and extensive uses.
Maintain our Incrypted Conference 2023 online marathon.. If you’re just joining us, a reminder, our YouTube channel has a large-scale broadcast about Web3 with the participation of representatives of big business. The next speaker is Anton Bukov, co-founder of 1inch Network, who will talk about the protocol of limit orders.
Remind that 1inch is a DEX aggregator. A description of the protocol and a detailed overview can be found in this article. The 1inch Network recently integrated into the zkSync Era network.
“At a certain point, we came up with the idea of creating our project. 1inch allows traders to easily and quickly select the optimal price taking into account all the hidden factors and to minimize slippage,” said Bukov at the beginning of his speech.. The developer offers several products at once.
As Bukov says, this tool allows literally anyone to create a DeFi application even without a smart contract. It covers most popular networks and is available with zero fees.
Other benefits can be described as follows:
- MIT license. Anyone can use the protocol source code;
- configuring the commission model from a developer’s perspective;
- the protocol is significantly cheaper in terms of gas fees than any competitive solution;
- unique “chips”. This includes support for ERC721, ERC1155, EIP-1271 and more.</nbsp;
The scope of the protocol is quite extensive. These are descending-price auctions, stop-loss orders to limit losses, customizable trading strategies, etc.</nbsp;
“DeFi is a space of possibilities,” Anton emphasized.</nbsp;You can read more about this protocol at the official 1inch website. Let's note, the solution is really interesting and has significant potential.