1inch, a prominent DeFi player, has officially announced support for the well-known blockchain platform Solana. The collaboration focuses on providing $7B in liquidity as well as the finest swap rates on Solana. The platform took to social media to reveal this exclusive partnership.
1inch and Solana Join Forces to Offer Optimal Swap Rates
The official partnership between 1inch and Solana marks a key move in the unification of the DeFi world. Famous for offering the best rates for swaps, 1inch utilizes the cutting-edge aggregation as well as MEV protection. Apart from that, it now provides on-chain swaps on the Solana blockchain through its decentralized application. It also offers wallet integration backing for Trust Wallet and Phantom Wallet via WalletConnect.
By collaborating with Solana, 1inch has raised its position to expand its presence in the swap aggregation sector. Hence, it is tapping into a major and dynamic blockchain ecosystem. Previously, over the past 3 months, the Solana ecosystem has recorded notable statistics. Particularly, it gained a remarkable $539B in the cumulative DEX volume, 5B transfers, and 228M active addresses.
Fusion Protocol Allows Swap Orders Through Internet
As a result of this integration, over 1M tokens on Solana can be swapped on 1inch. Additionally, the liquidity will be sourced from across the ecosystem to benefit consumers with optimal rates and least slippage. The proprietary Fusion protocol of 1inch permits consumers to make swap orders on the internet. They are executed via Dutch auctions conducted by expert market makers for price accuracy and maximized efficiency.
