ImplementationsBelow are some use cases for the 1inch Limit Order Protocol. But the protocol is very flexible, and you can build much more on top of it!
The P2P order functionality facilitates trustless and secure swaps between individual users. A user finds a counterparty for swapping a certain amount of tokens. The counterparty provides them with a crypto address, which the user enters in the P2P tab of the 1inch dApp.
Based on the conditional orders feature, a stop-loss order is executed when it reaches a particular price point set by the user. When the price limit is reached, the open position will close to prevent further losses.
Trailing Stop Order
In a sell trailing stop order, also implemented on the conditional order feature, the user sets the stop price at a fixed amount below market with an attached ‘trailing’ amount. If the market price increases, the stop price rises by the trailing amount. If the price falls, the stop-loss price remains unchanged.
Thanks to the dynamic pricing feature, the protocol can be used to power auctions. For instance, Maker DAO’s Liquidation 2.0 Module is based on the auction model, and users could take part in Maker DAO auctions, using the 1inch Limit Order Protocol.