DEX aggregator 1inch launches Solana version

Source Cryptopolitan

One of the busiest Ethereum aggregators, 1inch, is launching a Solana version. The aggregator will compete with other apps during a newly active Solana meme season. 

The 1inch DEX aggregator, one of the key Ethereum apps, will launch a Solana version. The launch arrives at a time of heightened Solana token activity, where the leading aggregators produce up to $2.5M in daily fees. 

The 1inch team announced that the new Solana version is already live and capable of interacting with all newly launched tokens. At the moment, 1inch will start as an aggregator, however the community has suggested building a launchpad, similar to Raydium or Pump.fun, which combine token launchpads and DEX liquidity.

The aggregator will accept Trust Wallet and Phantom through Wallet Connect, allowing all Solana traders to start swapping immediately. All traders will access the Fusion protocol, the main mechanism for fast decentralized swaps. 

The aggregator will accept the user’s parameters, then wait for transaction fulfillers to offer the best possible price, with the least slippage. The aggregator will also prevent MEV bot attacks, which front-run Solana trades.

Following the Solana launch news, the 1INCH token rallied from weekly lows of $0.17 up to $0.21. The token is still near a one-month high after bouncing from April’s lows of $0.15. 

Ethereum’s slower pace hurts 1inch revenues

The shift to Solana follows a general slowdown for 1inch on Ethereum. Compared to the Jupiter DEX aggregator, 1inch only produces up to $300K on successful days, and as low as $1.3K during slow periods. 

The aggregator still serves close to 60K daily active wallets, with three swaps daily on average. The app burns around 24 ETH each day for its busiest router contracts, lining up among the top 20 gas burners. 

However, the router’s performance is only one part of the 1inch product package. Part of the slowdown is due to the shift to 1inch Swap, which continues to draw in significant quarterly volumes despite short-term activity fluctuations. 

The 1inch aggregator has already shown its experience with multi-chain presence, though limited to EVM-compatible chains. The network achieves up to $187M in volumes from its multi-chain activity, based on DeFi Llama data. In the past months, activity on the BNB Smart Chain also increased, showing 1inch was capable of tapping the hottest token trading networks. 

Solana DEX activity still hinges on Raydium, Orca, and Meteora, together making up over 80% of all trading volumes. Solana is also a leader in bot trading activity, with 86.6% of all bot-driven swaps. 

DEX aggregator 1inch launches Solana version.
Raydium is still the leading Solana DEX, potentially bringing new revenues to the 1inch aggregator. | Source: Dune Analytics

On Solana, 1inch will aim to stop MEV attacks, offering protected swaps for over 1M tokens that graduated to the DEX. After the initial launch, the aggregator will also offer cross-chain swaps at the best possible rate, offering access to liquidity from 13 chains already onboarded. 

Overall, Solana’s DeFi activity increased in Q1, driven by DEXs, a renewal of meme token launches, and lending. The chain still carries close to 4M daily active wallets, rising from a recent slump of 2.8M active wallets.

Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
What Crypto Whales are Buying For May 2025Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
Author  Beincrypto
Apr 21, Mon
Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
placeholder
Analysts Highlight 4 Reasons Why ETH Price Could Rebound Strongly in MayEthereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.
Author  Beincrypto
May 07, Wed
Ethereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.
placeholder
Ethereum Price Ready to Surge—$2,000 Level Could Be Within ReachEthereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.
Author  NewsBTC
May 08, Thu
Ethereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.
placeholder
Ethereum Price Explodes Past $2,200 with 25% Surge—Momentum Builds FastEthereum price started a fresh surge above the $2,000 zone. ETH is now up over 25% and consolidating gains near the $2,200 zone. Ethereum started a fresh surge above the $2,000 resistance.
Author  NewsBTC
May 09, Fri
Ethereum price started a fresh surge above the $2,000 zone. ETH is now up over 25% and consolidating gains near the $2,200 zone. Ethereum started a fresh surge above the $2,000 resistance.
placeholder
Gold edges higher after Trump’s bill boosts bond market uncertaintyGold (XAU/USD) price extends its weekly gains, trading near $3,330 at the time of writing on Friday, up nearly 1% on the day, on a new tailwind for the safe haven precious metal.
Author  FXStreet
17 hours ago
Gold (XAU/USD) price extends its weekly gains, trading near $3,330 at the time of writing on Friday, up nearly 1% on the day, on a new tailwind for the safe haven precious metal.
goTop
quote