1SOL: Solutions for a New World of DeFi

Place/Date: - December 13th, 2021 at 8:37 pm UTC · 4 min read
Contact: 1SOL, Source: 1SOL

After growing almost 100x in the space of a year DeFi is positioned to be a game changer in world finance. The rate of innovation in this space is simply incredible with new projects, token models, and governance structures appearing almost every week.

The world’s most talented developers are striving towards the future of finance at a rapid pace. Both the Solana blockchain and 1Sol are well placed to take advantage of this huge growth.

1Sol + Solana =Better trading profits, lower risk & faster execution.

What is 1 Sol?

1Sol is a decentralized trading aggregator (DEX aggregator) based on the Solana blockchain. Trade aggregators take feeds from multiple exchanges and by using advanced algorithms, allow swaps to take place at a faster rate and more efficient price by combining real time data feeds from the other exchanges.

1Sol is currently in mainnet, with a community of 200K+ members. Starting with the top Solana DeFi projects (Raydium, Serum, Saber and Orca), 1Sol aims to be the fastest and most comprehensive DeFi aggregator in the marketplace.

1Sol will expand to a comprehensive list of tradable tokens by Q2 2022. Eventually the list of tradable assets will also include CeFi, NFT, GameFi and debt assets.

Why Use 1Sol?

As a decentralized exchange aggregator, 1Sol will benefit traders on multiple counts.Traders exchanging high value trades will save substantial amounts, since 1Sol will find the lowest cost and most efficient route to perform the trade, as well as help users with smaller trades reduce their gas fees. By combining data flows from other exchanges together, and the use of intermediate swaps with high liquidity, 1Sol users can expect lower bid/ask spread,lower volatility, and a better swap price than on any individual exchange. The other advantages of the decentralized nature of the process means that at no time are the users details stored on a server, no KYC (know your customer) checks are required and overall results in a more secure experience, since there are no personal details stored. Only the wallet address is visible as a record within the blockchain showing the trade.

Why Solana?

The Solana blockchain was developed out of necessity. With demand for smart contracts growing exponentially, users and decentralized application providers have outgrown the existing Ethereum network. Gas fees on Ethereum are increasing to very high levels, forcing users and application off the system as the network becomes more congested. Also, the rate of transactions on Ethereum is limited to around 15/ second, which can cause serious delays in processing. Enter Solana. With up to 65,000 transactions /second and gas fees lower than $0.00025 these limitations are now completely solved. And Solana promises to double the transaction rate every 2 years. Solana’s popularity is reflected in its trading price which has risen 50x since the start of 2021, with hundreds of applications now running as smart contracts within the Solana blockchain.

Why 1sol +Solana?

These advantages of Solana gives 1sol all the features needed to build a superior exchange aggregator.

1Sol can then execute a much higher number of smart contracts, with a very low processing fee, and near

instantaneous execution can be performed and all these benefits are immediately passed onto the end user for this use case, resulting in faster trade execution times, and lower costs. The opportunities are bright for such a system where users are constantly seeking the lowest cost, fastest performing, most trustworthy, and reliable exchange system to use. DEX exchanges are at an early stage, but growing quickly.Being one of the first movers in this market to consolidate and aggregate these exchanges gives 1Sol a long term advantage.

Challenges for Trade Aggregators

The concept while simple at a high level can be complicated under the scenes. Many variables such as demand scaling, counterparty API reliability, counterparty risk and government regulations are all factors that must be dealt with.

The team at 1Sol have committed to an extensive test program simulating thousands of simultaneous users performing trades, and whilst keeping the platform stable, allowing the internal algorithms to always find the best price for any given exchange.

The advanced internal algorithms can react instantaneously to price changes, gas fees, and order flow on all the exchanges,giving a true real time aggregation. Government regulations in future may allow fiat currency trades with central bank issued digital currencies, and 1Sol’s internal design allows for any number of assets to be added to the system.