Originally published on: September 18, 2024
1inch, the leading decentralized exchange aggregator, has unveiled its latest innovation – the Fusion+ feature. This cutting-edge technology allows users to seamlessly swap digital assets across different blockchains while maintaining complete control over their assets.
Unlike traditional methods that rely on bridges for cross-chain transfers, 1inch’s Fusion+ feature eliminates the need for these vulnerable connections. By combining onchain and offchain liquidity, users can now execute swaps securely and efficiently without the risk of MEV attacks.
Powered by atomic swap technology, Fusion+ ensures that transactions are “all-or-nothing.” In the event of a failed swap, all funds are returned to the sender, guaranteeing a seamless user experience.
The entire process is governed by smart contracts, eliminating the need for third-party approvals and ensuring trustless transactions. Users simply input their order details into a form, and professional traders, known as “resolvers,” compete to execute the swap at the best rates.
To illustrate how the swap works, 1inch provided an example where a user can exchange POL tokens on Polygon for Ether on the Ethereum blockchain. This demonstrates the versatility of Fusion+ in facilitating swaps both within the same blockchain and across different networks.
Additionally, Fusion+ includes a timelock protection feature that cancels swaps if they are not completed within the specified timeframe, further enhancing security for users.
1inch’s commitment to cross-chain interoperability was first highlighted in a white paper released on Sept. 12. This innovative approach to solving interoperability challenges has garnered significant attention in the DeFi space, especially as other projects like Ethereum’s Vitalik Buterin explore similar solutions.
With Fusion+, 1inch continues to push the boundaries of decentralized finance, offering users a seamless and secure way to exchange assets across disparate blockchains. Don’t miss out on this game-changing feature that is revolutionizing the DeFi landscape.
