1inch Expands to Solana, Enabling 1 Million Token Swaps
1min read 1inch, a decentralized exchange (DEX) aggregator, has expanded its services to the Solana network, marking a significant milestone in its vision of creating a unified multichain decentralized finance (DeFi) ecosystem. This integration allows users to trade over 1 million Solana-based tokens directly through the 1inch decentralized application (DApp). The move brings 1inch’s Fusion protocol to Solana for the first time, enabling users to define their ideal swap parameters, which are then executed by competing professional market makers using Dutch auction mechanics. This setup, combined with Solana’s ultra-fast block times, promises more efficient and seamless trading execution compared to other networks.
The expansion to Solana is part of 1inch’s broader strategy to enhance liquidity and user experience across multiple blockchains. The integration includes access to six APIs through the 1inch Developer Portal, providing builders with tools to create new DApps and services on top of the 1inch-Solana infrastructure. This development is expected to attract more users and developers to the Solana ecosystem, further boosting its DeFi capabilities.
Ask Aime: 1inch expands on Solana network, boosting DeFi trading.
In addition to enabling Solana-based swaps, 1inch has revealed plans to roll out crosschain functionality in the coming months. This feature aims to allow swaps between Solana and more than 10 other blockchains already supported by 1inch. While there is no fixed launch date for this feature, development is progressing well, and the company expects it to go live in the near future. The crosschain swaps will initially support the 10 blockchains already integrated into 1inch’s crosschain swap ecosystem, with the final list to be confirmed closer to launch.
1inch’s expansion into Solana comes at a time when the blockchain has shown impressive performance in several key DeFi metrics. Over the past three months, Solana has posted a higher dex trading volume, handled more transactions, and hosted more active addresses than its rivals. This performance, coupled with Solana’s growing adoption and performance improvements, makes it a serious contender in the DeFi landscape. While Ethereum continues to dominate in terms of network effects and liquidity depth, Solana’s advancements position it as a strong alternative for DeFi users and developers.
The integration of 1inch’s services on Solana is a strategic move that aligns with the broader trend of interoperability in the DeFi space. By enabling users to trade across multiple blockchains with minimal fees, 1inch is paving the way for a more seamless and efficient DeFi ecosystem. This development is expected to attract more users and developers to the Solana network, further enhancing its position in the DeFi landscape.
