ParaSwap introduces its new Multichain Limit Orders Protocol

Endless possibilities with the highest efficiency

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ParaSwap

4 min readAug 9, 2022

ParaSwap is re-inventing the limit orders game by launching its multichain Limit Order Protocol, available in Ethereum, Polygon, Binance Smart Chain, Fantom, Avalanche, and Arbitrum.

The new Protocol goes beyond Tokens & NFT limit orders and enables, among others, Peer-2-Peer, OTC, and RFQ trading.

Anyone can interact with the smart contracts or build any dApp use case in a completely decentralized way. It’s a public good!

By leveraging the ParaSwap API, Marketplaces, NFT projects, and DeFi and gaming apps can build on top of the Limit Order Protocol to unlock new innovative use cases.

The recently launched industry’s first NFT P2P trading feature on the ParaSwap iOS app is a perfect example of this: the feature was built on top of the Limit Order protocol, unlocking the P2P NFT trading feature to buy and sell NFTs with any token.

In the coming months, the Limit Orders Protocol has the potential to enable several never-seen use cases in the crypto industry as more partners reach out to build on top of it.

For partners that would like to integrate through our API, don’t hesitate to fill out the contact form, and our team will reach out soon.

Only on ParaSwap; use it to trade both cryptos and NFTs!

While limit orders have been widely used in traditional finance and crypto trading, ParaSwap is the first in the market to extend it to Multichain NFT trading.

Tokens Limit Orders are now available on ParaSwap’s web app and coming soon to the ParaSwap mobile app. The protocol goes beyond token-to-token trading but can also be used for token <> NFT trading (available on iOS), multiple tokens to NFT, and NFT to NFT.

For NFT users, this opens the gates to more advanced trading tools as they now have access to ultra-performant trading strategies only available on ParaSwap or through its API.

Buy NFTs with multiple tokens.

This unique type of limit order is also integrated with ParaSwap’s NFT trading functionality. While on other NFT marketplaces, users are bound to use a specific token to trade, ParaSwap offers the possibility of seamlessly handling multi-token trades. Users can now trade NFTs on ParaSwap with multiple tokens of their choice, using either a market or a limit order.

This feature is a game-changer for trading strategies by making them more flexible in forming different trading setups and allocating digital assets portfolios.

Save on fees with the most gas-efficient Limit Order Protocol in the market.

Gas fees are often a concern when choosing which DEX to trade. As a result of developing with a user-first mindset, ParaSwap’s limit orders offer the most gas-efficient transactions in the market. Our benchmark shows that ParaSwap limit orders are 6% more gas efficient than 1inch and 8% better than 0x.*

Also, ParaSwap has no plans to enable protocol fees like 0x, as we disagree with the relevancy of that design.

The new feature helps unleash the financial potential of NFTs.

“The hype around NFT is settling down. The asset class is evolving beyond its infancy from pure digital art towards utilities” Mounir Benchemled, Founder of ParaSwap says.

“To embrace the change and prepare the soil for utility NFTs to boom, the market needs new tools to allow more liquidity and financing that follows to grow. Our new limit order functionality is an important piece of our DeFi puzzle to forge the bridge between the NFT market and the DeFi market. With the new feature in place, we hope to provide better liquidity to the NFT market and open NFT creators and investors to more financing options. Therefore the financial potential of NFTs can be realized in full.”

Step-by-step on how to use ParaSwap limit order