Decentralized exchange aggregator 1inch has unveiled its operations on the Solana network, providing users with new tools for token swapping.
Fusion Protocol Features
The Fusion protocol introduced on the 1inch platform allows users to set the terms of their trades, while professional market makers known as 'resolvers' compete to fulfill orders through a Dutch auction process. The core idea is to reduce slippage and deliver the best possible terms for users.
Solana's Capabilities
During the integration, 1inch will leverage Solana's low transaction costs, providing users with some of the cheapest swapping fees starting from one cent. This represents a significant upgrade for those looking to escape Ethereum's high fees.
Cross-Chain Swap Plans
Looking ahead, 1inch plans to implement cross-chain swaps that will allow users to trade assets across more than 10 supported networks without losing self-custody. As of now, there is no public confirmation of a date for this feature, but sources indicate rapid progress in development.
The launch of 1inch on Solana opens new opportunities for users by providing access to low-cost swaps and fast transaction speeds, while also paving the way for future cross-chain features.
