The decentralized exchange (DEX) 1inch has rolled out Version 2 of its Limit Order Protocol, introducing significant upgrades for gas-free limit orders and improved ETH token swaps. This release targets gas efficiency—a critical pain point in DeFi—while refining user experience and security.
Key Features of 1inch Limit Order Protocol V2
1. Gas-Free Limit Orders
Users can now place gas-less limit orders for tokens supporting EIP-2612 permits (a signature-based approval standard). Notably:
- Trade 112+ Ethereum tokens, 33 BSC tokens, and 15 Polygon tokens (e.g., USDC, AAVE, UNI) without holding ETH.
- Ideal for airdropped tokens or assets bought via fiat, even with a zero ETH balance.
2. Optimized Codebase
- Refactored and simplified smart contracts split order types into separate files.
- Reduced transaction costs and faster execution.
3. Enhanced RFQ (Request-for-Quote) Feature
- Market makers can specify takers for fills using permits.
- Streamlined pricing for better liquidity efficiency.
4. ERC-721/ERC-1155 Support
- NFT orders moved to dedicated smart contracts for added security.
Performance Metrics
Since June 2021 (V1 launch):
- 20,000+ users executed 60,000+ trades.
- $3 billion in total trading volume.
Security & Audits
V2 underwent independent audits by:
- ABDK
- Chainsulting
- MixBytes
- Certik
- Pessimistic
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FAQ Section
Q: How does 1inch’s gas-free limit order work?
A: Users sign a permit (EIP-2612) to approve token swaps without upfront ETH for gas.
Q: Which tokens support gas-less trades?
A: Major tokens like USDC, DAI, UNI—check 1inch’s full list for Ethereum, BSC, and Polygon.
Q: Is V2 more secure than V1?
A: Yes—audits by Certik and others confirm enhanced smart contract safety.
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Conclusion
1inch’s V2 Limit Order Protocol elevates DeFi trading through gas optimization, broader token support, and robust security. A must-try for traders prioritizing cost-efficiency and flexibility.