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1inch launches native cross-chain swap service between Solana and EVM
The 1inch Decentralized Exchange has launched a native cross-chain swap feature between Solana and over 12 EVM networks, allowing users to transfer assets directly without the need for a bridge. This feature is available on the 1inch dApp, wallet, and Fusion+ API, with built-in MEV protection mechanisms, making transactions safer and smoother.
Instead of creating "wrapped" tokens through the bridge – which carries the risk of being exploited by hackers like the Heco Bridge (111 million USD, 2023) and Nomad Bridge (190 million USD, 2022) – users can directly swap Solana for EVM tokens.
Co-founder Sergej Kunz stated that this solution aims to address the issue of fragmented liquidity, expanding the connection of Solana with Ethereum, Polygon, Arbitrum, Optimism, and many other chains. With around 500 million USD in daily trading, 1inch aims to become the DeFi bridge between Solana and the multi-chain ecosystem. The 1INCH token is currently at 0.25 USD, down 23% in 30 days.