1inch launches on Solana, opening a new chapter for decentralized finance

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.

De decentralized finance users are in for a treat with the launch of 1inch on Solana.

Known for its decentralized exchange aggregation platform (DEX), 1inch has brought its services to Solana, an emerging blockchain renowned for high performance and a rapidly expanding ecosystem.

This integration, announced in an official statement by 1inch and reported by Cointelegraph, unlocks new possibilities for seamless token exchange and the development of more efficient DeFi applications.

The platform permits the trading of over one million Solana-based tokens directly through its DApp, providing users with protection against maximum extractable value (MEV) risk, optimized fees, and open-source smart contracts. Together, these elements create an unmatched trading experience on the Solana network.

1inch lands on Solana with its innovative Fusion+ protocol

At the heart of this launch lies the Fusion+ protocol, making its debut on Solana. Fusion empowers users to set custom parameters for their desired swaps. 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 has 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.

Crosschain swap: the next frontier of 1inch

In addition to the launch on Solana, 1inch is developing a crosschain swap feature that 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.

Solana dominates the main DeFi indicators: a bull ecosystem on the rise

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.

These numbers confirm the exponential growth of Solana, making it one of the most dynamic and competitive blockchains in the decentralized finance landscape.

Developer Tools: 1inch enhances the Developer Portal on Solana

The integration for developers is no less important. 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

Prior to 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 future of DeFi

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.