Leading DEX-AGGregator 1inch has introduced a new Defi function: confidence-free cross-chain swaps between Solana and more than 12 EVM networks, without trusting bridges or message protocols from third parties.
Available over the 1 inch Dapp, Wallet and Fusion+ API, users can now move assets directly between Solana and all large EVM networks in a fully decentralized, safe and seamless way with full MEV protection.
Brugless Solana Cross-Chain Swaps
Until now, cross-chain interaction between Solana and EVM networks needs typical bridges or message protocols from third parties, such as Wormgat, Axelar, Layerzero or Kinlink CCIP. Although widely used, these systems have proven to be vulnerable, with bridge hacks one of the most harmful security risks in Defi.
In February 2022, the Wormhole Bridge, which connects Solana and Ethereum, was hacked, which resulted in a loss of more than $ 320 million. Attackers operated a vulnerability in the characteristic verification process of Wormhole, which means they could have $ 120,000 in wrapped ETH on Solana Mint without the required collateral on Ethereum. This had been completed money from the protocol and exposed the risks that are inherent to traditional bridge-based cross-chain solutions.
1inch’s bridgeless Solana Cross-Chain Swaps completely rewrite this model. When the resolver accepts a price, an escrow is made on the bronze chain that safely locks the user’s funds. The resolver then makes a matching escrow on the destination chain and locks their own money. 1 inch co-founder Sergej Kunz told CryptoSlate:
“There is no brull’s risk, because the funds remain in their respective chain -specific escrows, not in a shared pool, and nobody can move them without the user’s secret. After a security check, the user shares this secret with the resolver to allow the withdrawal. If the secret is never shared, both Escrow’s ownerships are canceled and are renewed and are made of fonds.”
Under the hood: Fusion+ Cross-Chain
The technical basis for this function builds on 1inch Fusion+, the Dutch auction model of the company. But as Kunz explained, working with Solana had to reconsider architecture:
“The biggest technical challenge was to adjust our Fusion+ architecture, originally designed for EVM-to-EVM swaps, to work native with Solana. Instead of trusting messaging protocols from third parties or bridges, we have the Dutch auction model of 1inch to regulate, to arrange the Cryypassed Two-Dwo-Ordersesen To cherish.
The process works as follows: A user signs a SWAP order of the cross-chain on the Brongeten. A resolver locks corresponding liquidity on the destination chain, while the funds of the user in Escrow are held on the bronze chain.
Only when a cryptographic secret is unveiled, can both escrows unlock atomic unlocking will no party run away with funds. As Kunz explained, if the process fails, both escrows are canceled and funds are returned.
In addition to eliminating brugrishico, Fusion+ Cross-Chain Swaps helps to reduce fragmentation by keeping assets in their native ecosystem and still changing in chains immediately. Kunz Be on it:
“Instead of splitting liquidity in Brugpools, Resolvers use their own inventory to execute orders in the destination chain. This means that Solana and EVM-Liquidity can be of service to each other without re-packaging tokens, so that more efficient markets and deeper effective liquidity must be created.”
For Solana this deals with one of the greatest historical obstacles: insulation of defi -innovation and capital flows in EVM chains. Solana-Native tokens can now be traded directly against Ethereum, Polygon, Arbitrum and others, without intermediaries, who bring new users, capital and dapps to Solana and make the network a hub for traders, builders and liquidity providers.
What is the next step for 1 inch
While the release of today treats Solana <> EVM -Swaps, the team has further ambitions. Kunz told CryptoSlate:
“We are open to integrating more non-EVM networks in the future. During our recent Hackathon, teams have demonstrated implementations for Bitcoin, Sui, Aptos and others. That showed us the strong demand for a broader Multichain-Tukomst where any others can talk to any others without bruggonsico.”
