Phantom Integrates LI.FI to Enable In-Wallet Cross-Chain Swaps to Solana
TL;DR – Phantom has integrated LI.FI to make moving assets from EVM Chains to Solana (and vice versa!) simple and frictionless for its millions of active users.
LI.FI x Phantom: Elevating the Multi-Chain User Experience
We’re thrilled to share that LI.FI has been integrated by Phantom to power its newly launched in-wallet cross-chain swaps feature. The partnership marks a significant step in connecting Solana with the broader EVM ecosystem.
In-wallet cross-chain swaps are a powerful primitive that will be a huge unlock for the Solana ecosystem. It addresses one of the key user experience challenges, paving the way for the Solana ecosystem to achieve widespread adoption – moving liquidity to Solana from EVM chains. This feature will be a huge time saver for users and will make the Solana ecosystem more accessible for everyone.
We’re incredibly excited to grow the pie with the community and welcome new users and liquidity to Solana!
LI.FI’s Strategic Focus on Solana & Commitment to the Multi-Chain Thesis
LI.FI’s thesis from the beginning has been simple: crypto is multi-chain. Our commitment as a credibly neutral aggregation protocol has always been to make swapping assets across chains simple for everyone. With the launch of cross-chain swaps to Solana, we're celebrating a significant milestone in our journey towards building a more interconnected and accessible crypto ecosystem for everyone.
Why Solana: Our First Step Beyond EVM Boundaries
In March 2023, we published a comprehensive research report titled ‘Why Multi-Chain, Why Now’. This wasn’t just a collection of data and narratives; it was a manifesto that underscored our belief in a multi-chain crypto ecosystem.
In the report, we covered several promising ecosystems, including Solana. We noted that despite Solana’s substantial activity and growth, it lacked a crucial money lego for wider adoption – a simple and powerful tool that enables users to swap into their desired asset on Solana.
Realizing we had identified a key missing piece in the Solana onboarding puzzle, we allocated resources to build it ourselves.
After more than a year of intensive engineering effort, we are proud to introduce the cross-chain swaps feature for Solana, in partnership with one of the biggest wallets in the industry – Phantom.
We believe that Solana could be on the cusp of attracting massive user and liquidity inflows and Phantom’s in-wallet cross-chain swaps feature (powered by LI.FI!) will be a catalyst in this story as we prepare to open the floodgates for new users.
Beyond Today: Embracing the Solana Virtual Machine
Our vision for Solana’s growth and commitment to the multi-chain thesis goes beyond the present.
Over the past year, as we have been building out the tech, the Solana narrative has transformed remarkably for the better – the ecosystem has experienced a notable surge in both user engagement and developer activity, gaining considerable momentum.
At the core of this progress is the Solana Virtual Machine (SVM) which offers one of the most sophisticated and highly powered state execution machines. To leverage the full potential of the Solana tech stack, we've built a solution that not only enables us to support Solana but also opens the door to supporting any chains compatible with SVM in the future.
Product Roadmap: Expanding the Cross-Chain Swaps Feature
The current implementation of the cross-chain swaps feature uses Allbridge. Support for Circle’s Cross-Chain Transfer Protocol (CCTP) is presently being tested on devnet with plans to make it available for users soon after CCTP launches on Solana’s mainnet.
We don’t plan on stopping here. As we’ve done in the EVM ecosystem for the past 2+ years, LI.FI will continue expanding the functionality of our aggregation product for Solana to ensure users get fast and cheap cross-chain swaps.
Our roadmap includes the integration of Solana-native aggregators like Jupiter Exchange to broaden the range of assets users can directly swap into on Solana. Additionally, we are committed to continually exploring and evaluating various bridging solutions, with the goal of incorporating the most effective ones into our product. This strategy is designed to optimize user experience and ensure the most competitive price execution.
Solana Expansion: Looking Forward
Solana is the first non-EVM chain we’re adding to our product portfolio and we couldn’t be more proud of this feat.
This story is still being written and we’re excited for what’s next. Join us as we continue to break barriers and build bridges in the multi-chain crypto ecosystem!
Read more:
Docs: Integrate LI.FI for in-app cross-chain swaps on Solana
LI.FI Integrates Allbridge to enable cross-chain swaps between EVM Chains and Solana
FAQ: Phantom Integrates LI.FI to Enable In-Wallet Cross-Chain Swaps to Solana
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Disclaimer: This article is only meant for informational purposes. The projects mentioned in the article are our partners, but we encourage you to do your due diligence before using or buying tokens of any protocol mentioned. This is not financial advice.