1inch Launches Fusion+ to Simplify Cross-Chain Crypto Swaps

DeFi platform 1inch has officially launched Fusion+, an upgrade designed to streamline the process of cross-chain cryptocurrency swaps. After a successful beta phase, Fusion+ is now live on the 1inch decentralized application (dApp) and wallet, offering a new and improved way to exchange tokens between different blockchains.

Addressing the Cross-Chain Challenge

One of the biggest challenges in decentralized finance (DeFi) has been the movement of assets between different blockchains. Traditional cross-chain swaps either rely on centralized bridges, which expose users to security risks, or decentralized solutions, which can be complex and difficult to use.

Fusion+ aims to solve these issues by providing a decentralized, secure, and efficient alternative. Built around atomic swaps, which ensure that trades are either completed fully or safely canceled, Fusion+ removes the risks of partial or failed transactions.

Key Features of Fusion+

1. Security and Simplicity: Fusion+ eliminates the need for centralized third parties, offering a decentralized solution that prioritizes security and user control.
2. Maximal Extractable Value (MEV) Protection: To enhance security further, Fusion+ comes with built-in protection against MEV attacks, which can exploit blockchain transactions for profit.
3. Dutch Auctions for Better Rates: Fusion+ uses Dutch auctions to match users with professional market makers, called resolvers, who compete to offer the best rates. This ensures that users get competitive prices for their swaps.
4. Escrow Contracts: Transactions are conducted through secure escrow contracts on both the source and destination blockchains, ensuring that funds are only released when both parties fulfill their obligations. If the swap cannot be completed within a set timeframe, the funds are automatically returned to the original owner, preventing any losses.

A Smooth User Experience

The Fusion+ system is designed to be user-friendly, requiring no additional setup or technical expertise. Users simply need to select the tokens and blockchains they want to trade, confirm the transaction, and wait for the swap to be completed. The entire process happens seamlessly through the 1inch dApp and wallet.

Since its beta launch in September, Fusion+ has already processed millions of dollars in transactions, showcasing its potential as a game-changer in the DeFi ecosystem.

Expanding DeFi Tools

In addition to Fusion+, 1inch Labs has made strides in improving the overall DeFi experience. In July, the platform launched the 1inch Developer Portal, which offers Web3 developers an efficient way to interact with blockchains via RPC (Remote Procedure Call) without needing to run their own node. This API tool allows for seamless interaction with Ethereum and supports maximal uptime, ensuring that the platform can handle high network loads without sacrificing performance.

1inch’s partners and clients include major players like Polygon, MetaMask, BNB Chain, Crypto.com, Trust Wallet, Chainlink, Coinbase, and Binance Lab.