The launch of 1inch on Solana represents a turning point for users of decentralized finance. Thanks to this integration, the decentralized exchange aggregation platform (DEX) allows operations on Solana, an emerging blockchain with high performance, opening new opportunities for token exchange and for the development of more efficient DeFi applications.
According to the official statement released by 1inch and reported by Cointelegraph, the platform allows trading of more than one million Solana-based tokens directly through its DApp, offering users protections against the risk of maximum extractable value (MEV), optimized fees, and open-source smart contracts. These elements significantly enhance the trading experience on the Solana network.
1inch lands on Solana with its innovative Fusion protocol
At the heart of this innovation is the Fusion+ protocol, which debuts for the first time on Solana. Fusion allows users to set custom swap parameters. Subsequently, these swaps are executed by various professional market makers, called “resolvers,” who compete with each other through a Dutch auction system to achieve the best market conditions.
Thanks to the ultra-fast block times of the Solana network, the Fusion mechanism promises smoother and faster exchanges compared to other competing blockchains. Users, therefore, will be able to benefit from a combination of efficiency, security, and low costs.
A crucial aspect of the launch is the extremely low cost of swap fees. A spokesperson for 1inch confirmed that transactions on Solana will be subject to minimal fees, less than a cent. This makes the platform highly competitive compared to other networks where operational costs are higher.
This cost reduction will open DeFi even to smaller users, increasing accessibility and promoting greater decentralization of the ecosystem.
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Crosschain swap: the next frontier of 1inch
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In addition to the launch on Solana, 1inch has announced the development of a crosschain swap feature expected in the coming months. This innovation will allow users to exchange tokens not only within Solana, but also between Solana and over 10 other blockchains currently supported by 1inch.
Although the official release date has not yet been set, development is proceeding successfully and the feature is expected to be operational in the near future. Initially, the 10 already integrated blockchains will be included, with the final list to be confirmed shortly before the launch.
This feature represents a significant step towards creating a unified multichain DeFi ecosystem and improving interoperability between different blockchain networks.
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Solana dominates the main DeFi indicators: a bull ecosystem on the rise
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The expansion of 1inch on Solana comes at a time of great significance for this blockchain. In the last three months, Solana has surpassed Ethereum and its layer-2 networks in several key indicators of the DeFi sector.
- Recorded a DEX trading volume higher by 33%, amounting to 539 billion dollars.
- Managed 400% more transactions compared to its competitors.
- It has reached 180% more active addresses compared to Ethereum and other similar networks.
These numbers confirm the exponential growth of Solana, making it one of the most dynamic and competitive blockchains in the decentralized finance landscape.
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Developer Tools: 1inch enhances the Developer Portal on Solana
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The integration for developers is no less. 1inch has included access to six APIs through its Developer Portal, thus offering valuable tools to create new applications and services based on the joint Solana-1inch infrastructure.
These APIs facilitate the construction of more complex and innovative DApps, thus stimulating the growth of the ecosystem and encouraging the adoption of the network by developers from all over the world.
The roadmap of interoperability: Fusion+ and white paper on crosschain
Before the launch on Solana, 1inch had already defined its strategy for crosschain interoperability. On September 11, 2024, a white paper was published outlining an intent-based interoperability protocol, a technology that enhances communication between different blockchains while maintaining security and decentralization.
On September 18, 2024, 1inch also introduced the Fusion+ project, which allows for crosschain swaps while maintaining self-custody, meaning full control of one’s digital assets during inter-chain transactions.
These initiatives demonstrate 1inch’s concrete commitment to promoting a barrier-free DeFi ecosystem, where the ownership and management of assets always remain in the hands of the users.
Solana and Ethereum: competition and complementarity in the DeFi future
Although Ethereum maintains a dominant role due to network effects and liquidity, Solana now positions itself as a serious competitor thanks to its high performance and rapid adoption.
The entry of 1inch on Solana highlights the growing importance of this blockchain in decentralized finance. As a result, we will witness an increasingly rich and multi-layered ecosystem, where the choice of the network will depend on specific needs for speed, cost, and interoperability.
The impact of 1inch on Solana and future prospects
The arrival of 1inch on Solana marks an important milestone for DeFi users seeking efficiency, security, and low costs in cryptocurrency exchanges. The support for multiple and crosschain swaps paves the way for a future where the barriers between blockchains will be increasingly less relevant.
Furthermore, thanks to developer tools and innovations in interoperability, the DeFi ecosystem will be able to evolve towards greater inclusivity and functionality.
Users are therefore invited to explore the new opportunities offered by this platform and to monitor future developments, which promise to further transform the way bull and bear exchange and manage digital assets.
With 1inch increasing its presence on Solana, DeFi is moving towards a truly multichain model, more efficient and accessible to everyone. Those operating in the sector should therefore consider these new solutions as an opportunity not to be missed.
