1inch Expands to Solana Blockchain for MEV-Protected Swaps
1min read 1inch, a decentralized exchange (DEX) aggregator, has expanded its services to the Solana blockchain, enabling on-chain swaps for over 1 million tokens. This integration allows for MEV-protected swaps, utilizing 1inch's open-source smart contracts and intent-based trading architecture. Users can define trade parameters, while professional market makers, known as resolvers, compete to execute orders using a Dutch auction model. This system aims to reduce price slippage and optimize swap prices with expansive liquidity.
Solana’s DeFi activity has been notably robust, with the blockchain leading in dex trading volume, transaction counts, and active addresses. 1inch's integration with Solana is part of a broader strategy to enhance liquidity and provide users with more efficient trading routes. The platform plans to roll out cross-chain swaps between Solana and 10 other supported networks in the coming months, aiming to bridge Solana’s liquidity landscape with broader DeFi markets.
Sergej Kunz, co-founder of 1inch, highlighted the significance of this integration, stating that it moves the platform closer to uniting disparate chains. 1inch, which launched in May 2019 and ranks second among DEX aggregators, has also debuted on other networks such as Coinbase-incubated Base and Ethereum scaling solution Optimism. This expansion is expected to attract more users to the 1inch platform, providing them with access to a wider range of tokens and liquidity sources.
The cross-chain swaps will initially support the 10 blockchains already integrated into 1inch's cross-chain swap ecosystem. This development is part of 1inch's broader strategy to expand its services and improve the overall user experience. By leveraging Solana's high-speed and low-cost transactions, 1inch aims to provide a more efficient and cost-effective trading environment for its users.
The launch on Solana is a strategic move for 1inch, as it allows the platform to tap into the growing ecosystem of Solana-based tokens and decentralized applications. This integration is expected to boost the overall liquidity of the 1inch platform, as it allows users to swap tokens across different blockchains more efficiently. The move is also expected to benefit both 1inch and Solana, as it provides users with a more efficient and cost-effective trading environment.
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