- 1Inch, one of the most popular decentralized exchange aggregators on Ethereum, has officially launched on the Solana blockchain.
- It is an expansion that allows users to trade over 1 million Solana-based tokens directly via the 1inch platform.
- As Solana continues to gain traction and 1inch pushes the limits of decentralized finance, this partnership could usher in the next era of Web3.
1Inch, one of the most popular decentralized exchange aggregators on Ethereum, has officially launched on the Solana blockchain. This means that the Dapp has taken a major step forward in its mission to make Defi a lot more seamless. This integration brings 1inch’s high-speed Fusion protocol to Solana.
More importantly, cross-chain swap capabilities between Solana and over 10 other blockchains are expected in the coming months. This move not only strengthens 1inch’s position, it also shows that Solana’s dominance is growing among blockchain networks.
1inch Lands on Solana
1inch’s integration with Solana is more than a mere upgrade on the technical side. Instead, it is an expansion that allows users to trade over 1 million Solana-based tokens directly via the 1inch platform.
This comes with all the usual perks of using 1inch, including optimized swap rates, protection from maximal extractable value (MEV) exploits, and access to open-source smart contracts. One interesting feature of this integration is the deployment of the Fusion protocol on Solana.
Think of Fusion as a protocol that introduces “intent-based trading,” where users set their desired parameters and professional market makers. These are called resolvers, and are used by these customers to compete and execute those trades using a Dutch auction format. In essence, Fusion reduces slippage and increases the chances of getting the best possible price for transactions.
While 1Inch worked well on Ethereum, Solana’s ultra-fast block times make it even faster and cheaper. According to a statement from 1inch, users can expect swap fees of less than one cent when using Solana. This is a major relief over gas-heavy networks like Ethereum.
Cross-Chain Swaps
Another exciting part of this development is what’s coming next. 1inch has confirmed that cross-chain swap functionality for Solana is currently being developed. Although no firm launch date has been announced, the team says progress is strong and users can expect the feature to go live “in the coming months.”
To start with, cross-chain swaps will be supported across the 10+ blockchains already connected to 1inch. These include Ethereum, BNB Chain, Avalanche, and others. Once live, users will be able to swap tokens between Solana and these chains without having to rely on centralized bridges or custodians.
This ensures users maintain complete custody of their assets at every step, without ever relinquishing control during the trading process. This capability directly tackles blockchain isolation, one of DeFi’s biggest issues. Users being able to move assets easily between networks, means that 1inch is helping to dissolve these silos and make the DeFi space more interconnected.
Why Solana?
1inch’s choice to expand to Solana isn’t random. Over the past few months, Solana has clearly outperformed its peers in key DeFi metrics. For example, Dune Analytics data shows that Solana recorded $539 billion in DEX trading volume, which is 33% more than Ethereum.
It processed a staggering 4.8 billion transactions compared to Ethereum’s 1 billion, and active addresses on Solana hit 224 million, while Ethereum managed 78 million. These numbers show that Solana is no longer just a faster alternative to Ethereum.
It is one of Ethereum’s biggest competitors, and its growing user base, transaction throughput, and developer activity make it a great fit for the next phase of 1inch’s multichain journey. Overall as Solana continues to gain traction and 1inch pushes the limits of decentralized finance, this partnership could usher in the next era of Web3.
