This article covers:
What are P2P limit orders?
1inch Peer-to-Peer limit orders is a feature that allows any two individuals on the planet to connect and make a swap of any token on 1inch supported chains. Similar to traditional on-chain limit orders, you can set a specific price and expiration period for a pair of tokens you would like to swap. However, instead of 1inch matching your order with a taker, you get to specify the person/wallet that will fill the other side of the trade.
This feature opens the door to a whole new world of potential use-cases for 1inch Network, including NFT marketplaces, auctions, reverse auctions, and much more.
How to create a 1inch P2P limit order
First, connect your wallet to app.1inch.io.
Then, click on “P2P” within the swap window, and select the tokens you would like to swap. Once selected, you will need to approve the tokens for use with the 1inch smart contract by clicking “Give Permission”.
Next, sign the transaction within your connected wallet.
Once the approval transaction completes, enter the following information into the swap window:
The amount of tokens you would like to swap. Here, you will be able to conveniently set the amount to the current market rate, or reduce/increase the swap rate by 5% intervals.
The expiration date (anywhere between 10 minutes and 7 days)
The taker’s wallet address or ENS (this is the pre-arranged wallet that will be filling your trade)
***Please note: The taker cannot partially fill your order, they must accept the full amount.
Once the information is entered, click the “Submit” button.
After clicking the "Submit" button, you will need to review and confirm the details on the next screen.
Once everything looks good, click “Create order” and sign the transaction within your connected wallet.
That’s it! You have now successfully created a 1inch P2P order. While you are waiting for it to be filled, you can view the order and its details under the “Outbound” tab below the swap window.
Once the taker fills your order, it will then be seen under the “History” tab in the same panel.
How to fill a 1inch P2P order
First, go to the 1inch dApp, and connect your wallet.
***Please note: Your connected address must be the same wallet specified as the "Taker address" in the maker's order creation.
Once connected, select the correct chain, and click on "p2p" within the swap window. Then, towards the bottom, click the "Inbound" tab, and then "Fill" under the correct order.
Simply copy and past the order's direct URL (which can be obtained from the order maker)
Here you will be able to confirm the details, and submit the transaction. Depending on the token being swapped, you might need to submit an approval transaction before filling the order.
Once submitted, simply sign the transaction within your connected wallet, and the tokens will show up in your wallet as soon as the transaction is confirmed.
Questions, comments, concerns? Feel free to reach out to us in the live support chat!