365Crypto
A Big Move Into Solana
1inch, a popular DEX aggregator, has officially landed on Solana. It’s a major step toward building a multichain DeFi universe. This launch means users can now trade over one million Solana-based tokens using 1inch’s app.
Smarter Swaps, Lower Fees
Thanks to Solana’s speed, users will get super-efficient swaps with tiny fees — usually less than a cent. The system also uses 1inch’s “Fusion” tech, where pro traders battle in a Dutch auction to give users the best rates.
Crosschain Functionality on the Way
But that’s not all. 1inch says it’s working on crosschain swaps. Soon, people will be able to trade between Solana and more than 10 other blockchains, keeping control of their tokens the whole time.
Devs, Rejoice: New Tools Too
Builders get access to six APIs through the 1inch Developer Portal. These tools make it easier to build on top of 1inch’s Solana setup.
Why Solana? Performance.
Solana’s recent numbers are wild. In just three months, it beat out Ethereum and others with:
33% higher DEX volume
400% more transactions
180% more active wallets
Long-Term Vision
1inch has been thinking about crosschain DeFi for a while. In September 2024, they released a white paper laying out the plan. A week later, they revealed “Fusion+,” a self-custody system for swapping assets across chains.
Glossary:
DEX aggregator: Tool that finds the best prices across multiple decentralized exchanges.
Dutch auction: A type of auction where the price drops until a buyer accepts it.
Crosschain: Ability to interact between different blockchain networks.
