The DEX aggregator 1inch, one of the key applications on Ethereum, has announced the launch of its version for the Solana blockchain, occurring amid increased token activity on this platform.
Launch of 1inch Aggregator for Solana
The 1inch team has announced that the new version for Solana is already live and can interact with all newly launched tokens. This statement comes at a peak in Solana's token activity, where leading aggregators report daily earnings of up to $2.5 million.
Features and Capabilities of the New Aggregator
The aggregator supports Trust Wallet and Phantom through Wallet Connect, allowing Solana traders to start swapping immediately. Additionally, the aggregator will utilize the Fusion protocol, providing fast decentralized swap activities and protecting against MEV bot attacks.
Prospects and Competition in the Solana Market
Despite the excitement around Solana, 1inch now faces significant competition from DEXs like Raydium and Orca, which account for over 80% of trading volumes. Furthermore, activity on Solana is significantly increasing, which may lead to a new revenue stream for 1inch.
The launch of the 1inch version for Solana could reshape the DEX market dynamics on this blockchain platform, but its success will depend on the aggregator's ability to compete with established players in this fast and competitive environment.
