1inch, a popular decentralized exchange (DEX) aggregator, has expanded its service with adding support to Solana, the current most popular blockchain network. With this integration, 1inch is also planning to introduce cross-chain swaps between Solana and a number of other blockchain networks.
Launched primarily on Ethereum, 1inch now supports over 14 different blockchain networks while having a user base of over 22.5 million. The latest integration of Solana makes it one of the most connecting decentralized applications (dApps) within the DeFi ecosystem.
In order to swap Solana tokens in 1inch, users can connect Phantom or any other external crypto wallets via WalletConnect.
“Now, more than 1 million tokens issued on Solana are available on 1inch for secure, MEV-protected swaps at the best rates,” the official announcement reads, “By efficiently aggregating all liquidity available on the market, 1inch minimizes slippage and ensures the best possible rates for swaps.”
The DEX aggregator notes that the winning combination of its Dutch auction mechanics and Solana’s ultra-short block time results in better swap execution for users. By efficiently aggregating token swaps, 1inch minimizes slippage for users and ensures the best possible rates for the transactions.
While speaking on the development, 1inch’s co-founder Sergej Kunz says that 1inch and Solana both were launched within months of each other. “Nearly 6 years later – we’re uniting DeFi, together. This is more than just an integration. It’s the start of something huge,” he said.
Solana, which has been aloof from Ethereum’s DeFi ecosystem, can now be interactive with this integration on the 1inch. In future, the launch of cross-chain swap between Solana and other leading blockchain networks like Ethereum, Polygon, Arbitrum and others will mark a turning point for the DeFi ecosystem.
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