DeFi project 1inch Network has just introduced a new P2P feature that allows its users to exchange digital assets directly with each other.
According to the announcement made by the project:
“A P2P order can come in handy in situations when liquidity for a certain token is not sufficient for a large OTC deal or, due to low liquidity, swaps on the market would incur significant slippage. The same applies to tokens that are not yet traded on the market, such as coins in the presale stage.”
The P2P order system is based on the 1inch Limit Order Protocol. The feature is available on all networks supported by the project.
To perform a trade, users need to find a counterparty and agree with it to exchange a certain amount of tokens. Once done, the counterparty provides a crypto address, which must be specified in the P2P tab of the 1inch application.