1inch Launches Decentralized Cross-Chain Swaps Between Solana and EVM Networks
1inch Pioneers Decentralized Cross-Chain Swaps for Solana
In a significant advancement in decentralized finance (DeFi), 1inch has introduced native decentralized cross-chain swaps between Solana and over twelve major EVM networks. This innovative capability allows users to exchange assets seamlessly without relying on bridges or insecure messaging protocols, marking a crucial milestone for 1inch in creating a truly interoperable DeFi experience.
The Importance of Cross-Chain Swaps
The introduction of these cross-chain swaps marks the first time that assets can be exchanged directly between Solana and EVM networks without the need for bridges. The major benefits of this development include:
- - Maximum Security: Since bridges and messaging protocols are not used, asset transfers to and from Solana are now safer than ever.
- - Seamless Execution: Users can sign and publish their trades, allowing resolvers to compete to execute them under the best conditions.
- - Best Prices: Users benefit from unparalleled liquidity and MEV protection by design.
Groundbreaking Native Cross-Chain Swaps
A few months ago, 1inch expanded its platform by adding support for Solana, harnessing the blockchain's low-latency block times and robust ecosystem. With the full implementation of cross-chain functionality, the fragmentation between Solana and EVM ecosystems has finally ended.
Sergej Kunz, co-founder of 1inch, emphasized, “The speed and efficiency of Solana made it an ideal candidate for our next challenge in cross-chain swaps. By removing bridges and messaging protocols like LayerZero or Chainlink CCIP, we offer a fundamentally safer and smoother cross-chain experience.”
A Boost for the Solana Ecosystem
1inch's cross-chain functionality significantly benefits the Solana ecosystem, as it ends its isolation from other blockchains and transforms it into a full-fledged DeFi hub through the influx of new liquidity and users. Users can now trade Solana tokens directly against assets in EVM networks, opening the ecosystem to those who have never interacted with Solana before.
For Users and Developers
The support for Solana cross-chain swaps is now fully integrated across the entire suite of 1inch products:
- - 1inch dApp: For seamless, user-friendly swaps.
- - 1inch Wallet: For mobile users looking to manage their assets on the go.
- - 1inch Fusion+ API: Enables developers to incorporate trusted Solana<>EVM swaps into their own projects.
This opens up new liquidity avenues and trading opportunities, allowing DeFi participants to operate in previously isolated ecosystems without additional steps.
What’s Next?
1inch remains committed to uniting the DeFi sector and plans to support additional non-EVM chains. The journey toward an efficient and user-friendly DeFi experience continues to progress.
About 1inch
1inch is transforming decentralized finance with a seamless crypto trading experience for its 24 million users. As the leading platform for cost-effective and efficient token swaps, handling a daily trading volume of $500 million, 1inch also offers innovative tools such as a secure self-custody wallet, a portfolio tracker for managing digital assets, a developer portal for building on its cutting-edge technology, and even a debit card for easy crypto spending. Through continuous innovation, 1inch simplifies DeFi for everyone.
Topics Consumer Technology）
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