1inch Expands Reach to Solana, Is the DeFi Revolution Beginning?
The decentralized exchange (DEX) aggregator platform, 1inch, has officially launched on the Solana network in a significant step towards a unified multichain decentralized finance ecosystem. This presence allows users to trade over 1 million Solana-based tokens directly from the 1inch decentralized application (DApp).
With this integration, users will benefit from cryptocurrency swaps protected from maximum extractable value (MEV), optimized rates, and open-source smart contract infrastructure. All of this is done with the high speed typical of the Solana network, known for its very fast and efficient block times.
Fusion Technology Premieres on Solana
1inch brings the Fusion protocol to the Solana network for the first time. This feature allows users to define their ideal swap parameters, which will then be executed by professional market makers through a Dutch auction mechanism.
This approach not only provides greater flexibility for users but also promises more efficient trade execution. With the combination of Solana's speed and Fusion technology, token swaps can occur seamlessly and cost-effectively.
According to a 1inch representative, users will only be charged a swap fee of less than one cent, or around Rp170 with a conversion value of $1 = Rp17,000. This makes Solana an attractive option for crypto traders looking to significantly reduce transaction costs.