Users can now bridge between Solana and multiple EVM networks via Neon.<\/p>\n
Neon EVM, a Solana-integrated chain supporting Ethereum Virtual Machine and Vyper smart contracts, has integrated with deBridge to introduce support for EVM-native networks.<\/p>\n
Announced on Feb. 6, Neon EVM emphasized that the integration will allow developers to access the Ethereum ecosystem among other networks supporting Ethereum smart contracts. <\/p>\n
The move allows users to tap into billions of dollars in external liquidity with \u201cnear-instant\u201d asset transfers and swaps between Solana and top EVM chains including Ethereum, BNB Chain, Arbitrum, and Avalanche.<\/p>\n
\u201cNow, Neon EVM developers can easily add new cross-chain functionalities to decentralized applications on mainnet,\u201d the team said. \u201cThe partnership streamlines native asset transfer, boosts liquidity, enhances interoperability, and eliminates token wrapping friction.\u201d<\/p>\n
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DeBridge facilitated $152.8M worth transactions between nine different networks in January, with transfers from Ethereum to Solana accounting for 20% of the total. The number of Solana users interacting with deBridge also increased by more than 2,900% last month.<\/p>\n
Neon EVM will tap into deBridge\u2019s cross-chain infrastructure services, including the dePort asset custody and zero-slippage deSwap Liquidity Network.<\/p>\n
The project\u2019s NEON token is up 10% in the past 24 hours, according to CoinGecko.<\/p>\n
Neon describes itself as a EVM-compatible network boasting \u201cdirect access to Solana\u201d liquidity and parallelized transaction execution.<\/p>\n
Neon completed its mainnet launch in December 2022, but has attracted just $1.4M in total value locked across five projects, according to DeFi Llama.<\/p>\n
However, Neon\u2019s tides may soon turn, with a recent Aave governance\u00a0proposal<\/a>\u00a0to launch its v3 iteration of Neon passing its temperature check with 83% support. Aave is the leading DeFi lending protocol with a total value locked of $7B across 10 chains.<\/p>\n In December, Neon also\u00a0launched<\/a>\u00a0a\u00a0points campaign<\/a>\u00a0in a bid to bolster engagement with the protocol. Neon will distribute points to users who generate social media content and participate in Neon events including hackathons, conferences, and online events. On Feb. 3, Neon\u00a0said<\/a>\u00a0more than 1,200 participants have signed up for the program.<\/p>\n <\/p>\n