The decentralized exchange aggregator 1inch Network introduced peer-to-peer, or P2P, order functionality within the 1inch decentralized application, or DApp. This feature allows users to specify the person or wallet that will fill the other side of the trade, as opposed to over-the-counter or OTC payments where 1inch matches the order with a taker.
According to the company website, this "opens the door to a whole new world" of possible use cases, including transactions within NFT marketplaces, auctions or reverse auctions. Although other services like Binance Pay or Bybit support P2P payments, the company said that they have "stepped in to fill the gap" in demand for this kind of service.