7 months ago
44 ARTICLE AD
Solana users will now be able to interact with Ethereum’s $42 billion total value locked utilizing native tokens.
Neon EVM announced today an integration with deBridge to connect Solana mainnet with Ethereum and other EVM-compatible chains, such as BNB, Polygon, Arbitrum, and Optimism. Thus, users will be able to swap native tokens between Solana and EVM-based networks.
With this integration, Neon EVM leverages deBridge’s core functionalities, such as instant asset transfers between chains, cross-chain communication, and asset custody. The solution went through a test period from January 1 to January 30, with over $150 million transacted across nine blockchains.
“Adding the right tooling and building distributed infrastructure support increases the resilience and efficiency of blockchain ecosystems. This partnership does that — it nurtures the growth of a multichain ecosystem, offers developers seamless access to a global liquidity network, and fosters innovation within the EVM ecosystem”, states Marina Guryeva, CEO of Neon Foundation.
Neon EVM is an Ethereum Virtual Machine operating as a smart contract on Solana that accepts transaction requests via public PRC endpoints.
This collaboration between Neon EVM and deBridge aims to address the challenges related to bridging and exchanging tokens across different chains. This initiative is expected to enhance user experience by removing the complexities associated with traditional token wrapping and multiple intermediary steps.
For developers, this integration provides a direct connection to Ethereum’s significant Total Value Locked (TVL), which amounts to over $42 billion at the time of writing, and facilitates interoperability with other EVM-compatible chains. The partnership is designed to enrich the Neon EVM DeFi ecosystem by infusing it with liquidity from both Ethereum and Solana networks.
Additionally, the collaboration brings deBridge’s cross-chain solutions and Infrastructure-as-a-Service (IaaS) to Neon EVM developers, offering tools like dePort for asset custody across networks and services for secure cross-chain data transfer.
Alex Smirnov, CEO of deBridge, says that Neon EVM understood the vision and value of deBridge IaaS from day one. “We’re massively excited to see what the broader DeFi ecosystem will unlock from Neon EVM, now that builders and users can use and cross-compose with Neon EVM using any chain,” concludes Smirnov.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
