• With the P2P feature, users can make reliable and secure p2p transactions

The team continues to expand the range of its DeFi products. This time they introduced 1inch P2P, the main goal of which is the secure exchange of cryptocurrencies between users.

Demand for such services has existed for a long time, but at present, only a few platforms offer them to users.

It works like this. The user finds a counterparty to exchange a certain number of tokens. The counterparty provides him with a crypto address, which the user enters on the P2P tab in the 1inch dApp.

P2P exchange can be made at any price agreed by the parties or at the current market price (provided by the 1inch spot price aggregator).

It is also possible to select a valid price range as a percentage of the current market value.

After creating A P2P order can be sent by a user as a simple URL to a counterparty via email or any messenger. The URL contains a P2P order signed by the sender. The counterparty executes the order and pays the gas fee.

The P2P mechanism is based on the 1inch Limit Order Protocol and is available on all networks supported by 1inch: Ethereum, BNB Chain, Polygon, Avalanche, Optimistic Ethereum, Arbitrum and Gnosis Chain.

Benefits:

  • Execution of p2p orders is guaranteed by a smart contract
  • Full decentralization , since data exchange is done by exchanging URLs, bypassing the backend 1inch
20305