1inch to Debut on Solana, Backed by Rising DEX Activity - Crypto Economy

TL;DR

• 1inch now officially operates on Solana, enabling fast and low-cost swaps thanks to the network’s minimal fees.
• The integration includes the Fusion protocol, where market makers compete in auctions to offer users the best rates.
• They also launched six new APIs for Solana developers and plan to enable swaps across more than ten blockchains without giving up custody.

1inch has confirmed its official integration on Solana, one of the blockchains with the fastest-growing activity within the crypto ecosystem. This will allow network users to trade tokens with low-cost, high-speed swaps, taking advantage of Solana’s infrastructure in terms of transaction fees and confirmation times.

1inch to Integrate Fusion on Solana

With this move, 1inch brings its Fusion protocol to Solana for the first time. This tool lets users define the conditions of their trade while specialized market makers — known as resolvers — compete to execute the order through a Dutch auction mechanism. This model aims to reduce price slippage and secure better rates in every transaction.

Solana continues to post impressive figures in decentralized trading volume and transaction count. The latest data shows its volume on decentralized exchanges exceeds $539 billion, 33% higher than other networks. It also multiplies transaction count by four and has a significantly larger base of active addresses. These numbers strengthen Solana’s position as a highly attractive environment for DeFi projects seeking new integrations.

1inch had previously announced its intention to enable swaps between different blockchains, including Solana. Now, users will be able to trade across more than ten compatible networks without giving up custody of their assets. While there’s still no confirmed date for implementation, sources close to the project report steady progress, with this functionality prioritized on their roadmap.

More Tools for Developers

It’s also worth noting the release of six new APIs designed for developers working within the Solana ecosystem. These tools will simplify the creation of decentralized applications powered by 1inch infrastructure, offering greater and more efficient integration and automation possibilities for financial products and services within the network.

1inch aims to position itself as a competitive option for Solana users and enhance its multichain capabilities.