1inch Expands to Solana, Boosts Cross-Chain Swaps

1inch, a prominent decentralized exchange aggregator, has expanded its services to include support for Solana. This integration allows users to execute on-chain swaps through the 1inch decentralized application (dApp) and connect with six APIs available on the 1inch Developer Portal. The announcement was made at TOKEN2049 Dubai, marking the first major deployment of 1inch’s Fusion protocol on Solana. This move sets the stage for cross-chain swaps between Solana and the more than 10 blockchains already supported by the platform.

The integration comes at a time when Solana is outperforming other blockchain networks in several key metrics. According to Dune Analytics, Solana recorded $395 billion in decentralized exchange (DEX) trading volume over the past three months, compared to Ethereum’s $364 billion. Additionally, Solana processed 4.8 billion transactions compared to Ethereum’s 1 billion, and reached 224 million active addresses versus Ethereum’s 78 million.

1inch’s expansion leverages Solana’s short block times to optimize its Fusion protocol. This protocol introduces intent-based trading, where users define their desired parameters and market makers, or “resolvers,” compete to execute trades through a Dutch auction mechanism. This system allows exchange rates to start at a higher value and gradually decrease until a resolver accepts the trade, minimizing slippage and maximizing liquidity aggregation. 1inch asserts that its open-source smart contract code on Solana will offer greater transparency compared to other projects on the network.

Cross-chain swap functionality between Solana and other supported chains is scheduled to go live in the coming months. This development is described by 1inch as a step toward dissolving the isolation of individual blockchains and building a unified multichain DeFi ecosystem. More than 1 million Solana-issued tokens are now available on the platform, benefiting from MEV-protected swaps, aggregation across all liquidity sources, and the most audited smart contracts available in the ecosystem.

1inch’s decision to expand onto Solana follows a series of milestones for the platform, which remains one of the largest multichain decentralized exchange aggregators. The platform routes trades across more than 300 liquidity sources spanning 15 layer-1 and layer-2 networks. However, 1inch has also faced competition from rivals such as CoW Swap, which captured 26% of the aggregator market share in January compared to 1inch’s 30%, indicating a more competitive aggregator landscape.

The integration further extends 1inch’s portfolio, which includes a self-custodial wallet, a crypto debit card offering up to 2% cashback, and a hardware wallet expected to ship later this year. The hope is that as Solana’s DeFi ecosystem grows and 1inch’s multichain roadmap progresses, the move will strengthen 1inch’s positioning in a market where efficiency, security, and deep liquidity are critical factors for platform adoption.

Ask Aime: What is the impact of 1inch's expansion on the Solana blockchain's DeFi ecosystem?

1inch co-founder Sergej Kunz emphasized the broader vision, stating that uniting disparate blockchains was the founding mission behind 1inch. “We started 1inch to unite disparate chains and solve one of DeFi’s biggest barriers to adoption. Our integration with Solana moves us closer to that goal,” he said. He added that while others may offer partial solutions, 1inch seeks to launch optimized, secure, high-volume products that advance DeFi’s accessibility and efficiency.