1inch Introduces Crosschain Swaps Between Solana and EVM Networks
- 1inch launched crosschain swaps enabling asset transfers between the Solana network and over 12 EVM chains.
- The upgrade went live on Tuesday, integrating with the platform’s DApp, wallet, and Fusion+ API.
- This feature is touted as an “industry-first native decentralized crosschain swap” that operates without bridges or messaging protocols.
- The system utilizes a Dutch Auction settlement model combined with chain-specific escrow contracts for secure order fulfillment.
- Co-founder Sergej Kunz emphasized that this innovation aims to create a unified DeFi experience by removing liquidity barriers across ecosystems.
The introduction of direct swaps between Solana and EVM networks marks a significant advancement in DeFi, allowing users to trade without centralized custody or additional token layers. This approach enhances market efficiency by maintaining liquidity within its native ecosystem while facilitating instant swaps across chains.
With this launch, users can now engage in secure transactions directly between Solana and EVM networks, reflecting a major step towards breaking down barriers in decentralized finance.(Source)
