1INCH Token Surges as Decentralized Exchange Integrates with Solana
The Solana blockchain has integrated the decentralized exchange (DEX) aggregator 1inch, enhancing its features and user capabilities.
Key Developments
- Users can trade over 1 million Solana-based tokens via the 1inch DApp.
- The integration offers maximally extractable value-protected swaps and optimized rates.
- 1inch’s Fusion protocol enables users to set ideal swap parameters executed by market makers.
- Swaps on Solana are expected to incur minimal fees, potentially under one cent.
- The official launch of cross-chain swaps is pending, with support for 10 initial blockchains.
- This follows a recent integration with zkSync aimed at improving transaction speed and cost.
Market Impact
The native token, 1INCH, saw a price increase of 1.24%, trading at $0.2109, according to CoinMarketCap. However, trading volume indicates reduced engagement, which may change with this new development.