- 1inch just launched on Solana, bringing MEV-protected swaps, Fusion mode, and access to over 1 million Solana-based tokens, with wallet support for Phantom and TrustWallet.
- The move comes as Solana continues to outpace Ethereum in key DeFi metrics like DEX volume, transaction counts, and active wallets.
1inch is officially live on Solana, pushing its Fusion protocol and MEV-protected swaps onto the fastest-growing DeFi chain in crypto.
This means over one million Solana-based tokens are now tradable through 1inch’s open-source contracts and intent-based trading model. The team behind the project said that Phantom, TrustWallet (through WalletConnect only) are currently available but other wallets will be “coming soon”.
The launch brings 1inch’s full stack: Fusion mode, on-chain swaps, and six developer APIs to Solana’s ecosystem.
In this system, users define trade goals, and professional market makers battle it out using a Dutch auction structure, where prices start high and drop until filled. The goal is essentially to slash slippage and extract better swap prices from deep liquidity pools.
As per a blog post, 1inch highlighted the move as a confirmation of “its position as the go-to swap marketplace in the DeFi ecosystem”:
A winning combination of Solana’s ultra-short block time and 1inch’s Dutch auction mechanics results in better swap execution for users, compared to what slower blockchains can offer. That’s on top of all the benefits of 1inch’s smooth and seamless UX/UI.
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Solana Over Ethereum
In any case, for those following Solana’s performance lately, the move isn’t surprising at all. Basically, Solana buried Ethereum and its L2 offspring in key DeFi metrics, including US$539 billion (AU$842 billion) in DEX volume, a transaction count four times higher, and nearly double the active wallets, based on Dune Analytics data.
Even though Ethereum is still the biggest chain by developer count, Solana overtook Ethereum in developer growth, as Crypto News Australia reported. In practical terms, Solana isn’t catching up, more like pulling away.
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