1inch launches on Solana with crosschain swaps in the pipeline
1inch has launched on Solana, enhancing its vision for a unified multichain DeFi ecosystem. Users can trade over 1 million Solana-based tokens via the 1inch DApp, benefiting from optimized rates and maximal extractable value-protected swaps. The introduction of the Fusion protocol allows users to set swap parameters executed by competing market makers using Dutch auction mechanics. This integration promises efficient trading due to Solana's fast block times, with expected swap costs under one cent. Plans for crosschain swaps between Solana and over 10 other blockchains are underway, with no fixed launch date yet. Solana has outperformed Ethereum and layer-2 networks in key DeFi metrics, showing significant growth in trading volume and active addresses. The integration includes access to six APIs for developers to create new DApps on the 1inch-Solana infrastructure.
