The leader of the aggregator Dex 1Inch introduced a new DEFI functionality: cross -exchanges without confidence between Solana and more than 12 EVM networks, without relying on bridges or third -party messaging protocols.
Available through the DAPP, Wallet and Fusion + 1inch APIs, users can now move assets directly between Solana and all the main EVM networks in a completely decentralized, secure and transparent manner with complete MEV protection.
Bridgeless Solana Cross-Chain Swaps
Until now, the transversal interaction between Solana and EVM networks has generally required bridges or third -party messaging protocols such as the worm hole, axlar, the layer or the chain CCIP. Although widely used, these systems have proven to be vulnerable, Pirates of bridges one of the most damaging security risks in DEFI.
In February 2022, the Green Holes bridge, which links Solana and Ethereum, was hacked, resulting in a loss of more than $ 320 million. The attackers exploited a vulnerability in the process of verifying the signing of Wormhole, allowing them to strike $ 120,000 of Eth wrapped on Solana without the required warranty on Ethereum. This has drained funds from the protocol and exposed the risks inherent in traditional transversal solutions based on bridges.
1Inch Solana Cross-Chain Solana’s Swaps completely rewrites this model. When the resolver accepts a price, a sequestration is created on the source chain, safely locking user funds. The resolver then creates a matching sequestration on the destination chain, locating their own funds. The co-founder of 1inch, Sergej Kunz, told Cryptoslate:
“There is no risk of a bridge, because the funds remain in their range specific to the respective chain, and not in a shared pool, and no one can move them without the secrecy of the user. After a security check, the user shares this secret with the resolver to authorize the withdrawal. If the secret is never shared, the two withdrawals are canceled and the funds have returned to their original owners. ”
Under the hood: Fusion + Transversal
The technical basis of this functionality is based on 1inch Fusion +, the company’s Dutch auction model. But as Kunz explained, making it work with Solana required to rethink architecture:
“The biggest technical challenge has been to adapt our Fusion +architecture, originally designed for EVM-EVM exchanges, to work natively with Solana. Instead of relying on the Dutch auction model with chain -suspended contracts and specific to the 1inch chain. Pont model in two stages and eliminating the shared risks. »»
The process works as follows: a user signs a cross exchange command on the source chain. A resolver locks the liquidity corresponding to the destination chain while the user funds are kept in sequestration on the source chain.
It is only when a cryptographic secret is revealed that the two can unlock atomically, make sure that no party can run away with funds. As Kunz explained, if the process fails, the two sequests are canceled and the funds are returned.
Beyond the elimination of the risk of a bridge, the exchanges of fusion + cross-chain help reduce fragmentation by allowing assets to stay in their native ecosystem while being instantly swappable through the chains. Kunz underlined:
“Instead of dividing liquidity into bridges pools, resolvers use their own inventory to execute orders on the destination chain.
For Solana, this addresses one of its greatest historical obstacles: the isolation of DEFI innovation and capital flows in the EVM channels. Solana’s native tokens can now be negotiated directly against Ethereum, Polygon, Arbitrum and others, without intermediaries, bringing new users, capital and DAPP to Solana while making the network a center for merchants, manufacturers and suppliers of liquidity.
What is the next step for 1 inch
While today’s release covers Solana <> Evm Swaps, the team has other ambitions. Kunz said to cryptoslate:
“We are open to incorporating more non -EVM networks in the future. During our recent hackathon, teams made implementations for Bitcoin, Suit, Aptos and others.
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