1inch adds Solana support and launches Fusion protocol

The DEX aggregator 1inch has expanded its functionality by adding support for the Solana blockchain. Now, users can perform swaps through the decentralized application by connecting Phantom or Trust Wallet via WalletConnect.

Integration of other wallets and the full launch of Solana-based solutions within the 1inch Wallet are expected in the near future.

Fusion protocol: swaps through Dutch auction

The Fusion protocol, developed by the 1inch team, is already live on Solana. Here, professional resolvers — market makers — compete to execute orders using a Dutch auction model. The swap rate starts at the highest level and gradually decreases until one of the participants agrees to fulfill the order. Users can customize the desired trade parameters, making the process more flexible and beneficial.

Security, open-source code, and cross-chain swap plans

The 1inch team emphasized the enhanced security standards when operating on the Solana network. The project’s smart contract code is open and available for public audit. Developers can integrate 1inch solutions with Solana via the provided API.

Additionally, the launch of cross-chain swaps for Solana is expected soon. This will allow users to exchange assets from Solana to tokens on 10 other major blockchains, greatly expanding their trading options.