1INCH ADDED SUPPORT FOR SOLANA
Application users can make exchanges by connecting Phantom or Trust Wallet via WalletConnect.
Support for other wallets and the launch of the solution in 1inch Wallet are expected in the future.
1inch aggregates liquidity from across the market, minimizes slippage, and provides the best exchange rate.
The Fusion protocol has been launched on Solana, where exchanges are executed by professional market participants — resolvers. The architecture of the solution allows for the desired trade parameters to be set, after which market makers compete to fulfill the order based on a Dutch auction mechanism. The exchange rate starts at the highest and gradually decreases until one of the resolvers agrees to execute the order.
Developers can integrate the solution with Solana support via API.
Cross-chain swaps for the sixth-largest cryptocurrency network are expected to be added soon. This will allow users to exchange assets from Solana for tokens from 10 other blockchains.
“This will put an end to the isolation of Solana and turn it into a true center of global DeFi activity,” the blog emphasized.