#USA #New York #DeFi #Solana #1inch

1inch Introduces Groundbreaking Cross-Chain Swaps for Solana

1inch, the leading decentralized exchange (DEX) aggregator, has taken a monumental step in the realm of decentralized finance (DeFi) by launching the first truly decentralized cross-chain swaps between Solana and all major Ethereum Virtual Machine (EVM) networks. This innovative feature allows users to make swaps directly without relying on bridging or insecure messaging protocols, thus ensuring enhanced security and efficiency.

Users can now engage in seamless asset transfers between Solana and over 12 EVM chains through the 1inch dApp, Wallet, and Fusion+ API, marking a significant milestone in 1inch’s mission to create an interoperable DeFi experience.

Why This Matters

The advent of cross-chain swaps represents a groundbreaking moment in the DeFi space. For the first time, users can swap assets directly between Solana and EVM networks without the need for bridges, making the platform simpler and safer. The notable benefits of this new feature include:

• - Bulletproof Security: By eliminating the need for bridging or messaging protocols, users can safely move assets to and from Solana without the associated risks.
• - Seamless Execution: Users can sign and post their trades, enabling market makers to compete for the best execution conditions.
• - Optimal Rates: 1inch’s unique design ensures unparalleled liquidity and MEV protection, offering the best rates for users.

With full support for Solana integration added months ago, 1inch is utilizing Solana’s low-latency block times and robust ecosystem to offer superior cross-chain capabilities. This innovation resolves the fragmentation between Solana and EVM ecosystems, allowing for an uninterrupted DeFi journey that embraces a larger user base.

Believing in the potential of Solana, Sergej Kunz, co-founder of 1inch, stated, “The speed and efficiency of Solana make it an ideal candidate for our next frontier in cross-chain swaps. By making bridges and messaging protocols like LayerZero or Chainlink CCIP obsolete, we provide a fundamentally safer and smoother cross-chain experience.”

Benefits for Users and Developers

1inch cross-chain swaps are now fully supported in all 1inch products:

• - 1inch dApp: A user-friendly interface for seamless swaps.
• - 1inch Wallet: Perfect for mobile users managing assets on the go.
• - 1inch Fusion+ API: Enables developers to integrate trustless Solana-EVM swaps into their own projects, opening new liquidity paths and trading opportunities.

This advancement allows DeFi participants to engage in previously isolated ecosystems without extra steps, enhancing trading strategies and increasing market liquidity.

Looking Ahead

As 1inch continues to work towards making the DeFi landscape more cohesive, plans are underway to introduce support for other non-EVM chains. The evolution towards a more efficient and user-friendly DeFi experience is set to continue!

About 1inch

1inch is revolutionizing decentralized finance by providing a seamless trading experience in cryptocurrencies, catering to 24 million users. Not only does it serve as the top platform for cheap and efficient token swaps—processing over $500 million in daily transactions—but it also offers a suite of innovative tools, including a secure self-custodial wallet, a portfolio tracker for managing digital assets, a developer portal for advanced technology integration, and even a debit card for simplified crypto spending. By embracing continuous innovation, 1inch is making DeFi accessible for everyone.

Visit our website | Follow us on Twitter | Explore our Blog