Solana leads DeFi growth with record-breaking activity
Solana has emerged as a dominant force in the decentralized finance (DeFi) sector, outperforming Ethereum and layer-2 networks in key metrics over the past three months. The network recorded a 33% higher decentralized exchange (DEX) trading volume—reaching $539 billion—alongside 400% more transactions and 180% more active addresses than its competitors, according to data from Dune Analytics.
1inch launches on Solana, unlocking access to over 1M tokens
In a strategic expansion move, DEX aggregator 1inch has officially launched on the Solana blockchain, reinforcing its commitment to building a unified multichain DeFi ecosystem. The integration enables users to trade more than 1 million Solana-based tokens via the 1inch decentralized application (DApp), with access to MEV-protected swaps, optimized rates, and open-source smart contracts.
Fusion protocol brings auction-based execution to Solana
This launch also introduces the 1inch Fusion protocol to the Solana ecosystem for the first time. Fusion allows users to customize swap parameters, which are then executed using a Dutch auction system by professional market makers known as “resolvers.” Thanks to Solana’s fast block times, this setup ensures efficient and cost-effective trading.
A 1inch spokesperson stated that users could expect swap fees under one cent, highlighting the economic advantage of using Solana for DeFi trading.
Crosschain swaps on the horizon
Looking ahead, 1inch is preparing to roll out crosschain swap functionality for Solana. While there’s no confirmed launch date, development is underway. The feature will enable asset swaps between Solana and over 10 other blockchains already supported in 1inch’s crosschain infrastructure.
“Both Solana and Ethereum play critical roles in the evolving DeFi landscape,” said a 1inch representative. “Ethereum has unmatched liquidity and network effects, but Solana’s performance and adoption trajectory position it as a serious contender.”
Developer tools and API support added
The integration also includes six 1inch API tools accessible via the Developer Portal, giving builders the ability to create new DApps and services on the Solana-integrated 1inch infrastructure.
From white paper to real-world utility
1inch first revealed its intent-based crosschain interoperability protocol in a white paper published on Sept. 12, 2024. Days later, on Sept. 18, it introduced Fusion+, a system designed to enable crosschain swaps without sacrificing self-custody of digital assets.
