ByCoinGape
1inch Expands to Solana:– In a major move for DeFi, the multi-chain DEX aggregator 1inch has expanded to Solana. With the integration, the on-chain swaps for over 1 million tokens are now live on the network.
This means that users can now access trade and swaps for over 1 million Solana-based tokens using the DEX aggregator 1inch’s dApp.
The integration comes as Solana’s DEX activity continues to outperform. Over the past week, Solana-based DEX volume has jumped by roughly 25% to reach $19.359 billion.
With the montly Solana DEX trading volume hitting $50.7 and 16% week-over-week gain, it has surpassed Ethereum’s Layer-2s.
1inch’s decision to integrate with Solana is driven first and foremost by performance. Solana processes roughly five times the number of transactions Ethereum does over a similar period.
In the past three months, Solana network has handled 4.8 billion transactions and served 224 million active addresses. In counterpart, Ethereum stands at 1 billion transactions and 78 million addresses.
Its sub-second block times and single-digit cent fees combined with 1inch’s intent-based trading architecture is set to provide users with the efficient execution of swap orders.
There is no explicit market reaction as of now. After the 1inch Solana news, $1INCH token is trading at the current Price of $0.58 with 24 h change standing at +2.3%
Apart from the On-chain swaps, 1inch has also bring in Fusion protocol and six developer APIs to the leading blockchain network, Solana.
With its first deployment of Fusion protocol, this will allow users to place swap orders in an intent-based trading system. Such orders are executed by professional market makers called resolvers which use all the available liquidity sources.
In this system, users are also allowed to define their desired trade parameters. Based on the paramenters, the resolvers compete to fill the orders under Dutch auction mechanics.
In Dutch mechanism, the exchange rate starts high and gradually decreases until a resolver accepts the order. This ensures minimum slippage and maximum liquidity aggregation.
Further, for developers, 1inch Developer Portal’s existing toolkit of APIs now immediately gains Solana support.
According to its blog post, this includes Swap API, Balance API, Token API, Spot Price API, Transaction Gateway API, Gas Price API, Cross-chain API.
This move comes as a boost for the second-largest DEX inch’s vision of creating a “unified multi-chain” DeFi ecosystem.
Top Solana tokens that will available on 1inch include naitve Solana (SOL), Jupiter (JUP), Raydium (RAY), Bonk (BONK) among others.
1 million+ tokens. $7 billion liquidity. The best swap rates.
Unleash @solana with 1inch.
Now live for on-chain swaps.
Start now 🌅 https://t.co/wUGBanUDdz pic.twitter.com/xr2Qc3tQvh
— 1inch (@1inch) April 29, 2025
To begin swapping on Solana through 1inch, users can now connect their Phantom or Trust Wallet via WalletConnect. 1inch told Coingape that the team has confirmed that support for additional wallets is on the way.
1inch has also revealed plans to roll out cross-chain functionality in the coming months. This willl allow swaps between Solana and more than 10 other blockchains supported by 1inch.
The ten EVM-compatible networks that it currently supports are Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Arbitrum, Optimism, Gnosis Chain, Base and zkSync Era.
With cross-chain swaps soon to roll out, liquidity fragmentation across major chains would shrink.
Besides boosting DeFi significntly, this will bring in a unified trading experience for users and help onboarding new users at scale.
Also Read: How High Can XRP Price Go!
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