Moving value across different blockchain networks continues to be a challenging issue in decentralized finance (DeFi). Existing methods, like bridges and messaging protocols, have led to user vulnerabilities from smart-contract exploits and operational failures. Many users end up turning to centralized exchanges for simpler transfers due to these issues. Even when transactions succeed, traders face risks like value leakage from maximal extractable value (MEV), where actors can manipulate transactions. This creates a crosschain experience that is slow, expensive, and risky, contradicting the ideals of permissionless finance.
In this context, the DeFi aggregator 1inch is launching a new method for swapping directly between Solana and 12 EVM (Ethereum Virtual Machine) networks without needing bridges or third-party messaging. This is presented as a significant step towards “true trustless DeFi interoperability,” allowing users and developers to manage assets on Solana and EVM chains as easily as they would within a single chain, with built-in MEV protection.
The new feature is accessible through the 1inch DApp, 1inch Wallet, and the Fusion+ API within the 1inch Developer Portal. This development aims to break Solana’s previous isolation from the larger Web3 liquidity pool and to streamline cross-ecosystem operations for applications and market makers. The innovation is based on an aggregation stack and an “intent” model introduced with 1inch Fusion in late 2022. Instead of fixing a swap path, users define their desired outcome — an intent that includes a minimum return, a time frame, and other parameters. Professional traders, known as “resolvers,” then compete to fulfill these intents using both onchain and offchain liquidity sources.
The pricing of the swaps follows a Dutch-auction model, where the acceptable fill rate reduces over time within the user’s settings. This encourages quicker and more effective execution in liquid markets and helps manage performance when liquidity is limited. The smart pricing structure considers gas costs and market depth, guiding the transactions to achieve the best rates while minimizing slippage.
An important feature is the MEV protection built into the design. Resolvers fill intents using off the public mempool, following fixed rules that limit opportunities for front-running or sandwich attacks, which aligns with 1inch’s goal of minimizing common causes of value loss in DeFi.
The upcoming late-2024 Fusion+ upgrade will expand this intent model across chains. It will utilize atomic-swap logic to match and settle crosschain intents, ensuring an “all-or-nothing” execution guaranteed by smart contracts. If any condition is unmet or a time restriction is exceeded, the transaction will be reversed, returning funds to their owners. This design seeks to reduce dependence on custodial intermediaries and lower exposure to risks associated with message-passing bridges.
For users, the process resembles a standard swap: selecting a token on Solana and a token on an EVM chain, then confirming the intent. 1inch requires users to keep the Swap tab active until the transaction is fully confirmed across the networks to maintain focus on cryptographic verification.
1inch emphasizes that its approach differs from others exploring similar technologies. It combines a mature aggregation algorithm for optimal execution, a bridgeless setup to minimize risks, and embedded MEV-aware execution as a standard feature. As of now, 1inch reports a trading volume of approximately $700 billion and nearly 25 million users, suggesting a robust platform ready to facilitate crosschain liquidity with a user-friendly interface.
The focus is on enhancing interoperability and improving execution quality. By simplifying crosschain transactions, 1inch seeks to ensure that moving value across different chains feels as easy as using a credit card, aiming for a future where users engage with finance without needing to consider the underlying technology.