Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Vibrant Finance leverages Neon EVM for groundbreaking DeFi exchange innovation

Vibrant Finance leverages Neon EVM for groundbreaking DeFi exchange innovation

Crypto SlateCrypto Slate2024/02/23 18:38
By:Oluwapelumi Adejumo

Vibrant Finance CEO Jimmy Yin said the move would "make liquidity more efficient and foster cooperation between chains."

Decentralized exchange (DEX) Vibrant Finance has launched on Neon EVM , a Solana -based platform, marking its foray into the non-Ethereum DeFi landscape, according to a Feb. 23 press release.

The DEX utilizes the Discretized-Liquidity Automated Market Maker (DL-AMM) model to overcome existing limitations within traditional DeFi exchanges.

Vibrant Finance CEO Jimmy Yin expressed enthusiasm about this deployment on Neon, emphasizing its potential to bridge Ethereum’s vibrant DeFi ecosystem with Solana’s robust liquidity and transactional efficiency.

“With our latest deployment on Neon EVM, we aim to make liquidity more efficient and foster cooperation between chains and ecosystems,” Yin remarked.

The DL-AMM model, renowned for offering discrete liquidity for each price movement, facilitates precise liquidity allocation at specific fixed prices. This innovative approach addresses challenges in DeFi exchanges and optimizes liquidity management for users. Additionally, it introduces advanced trading features such as limit orders, enriching the trading experience for users.

Vibrant Finance is supported by iZumi, a multi-chain DeFi protocol that provides DEX-as-a-Service (DaaS).

Neon EVM growing ecosystem

Neon EVM facilitates scaling Ethereum decentralized applications (dApp) on Solana, making it an ideal choice for Vibrant Finance to expand beyond Ethereum.

Neon essentially simplifies the deployment of EVM-compatible dApps with minimal code adjustments. The platform operates as a smart contract on Solana and processes requests through public PRC endpoints.

Several DeFi protocols, including deBridge and MeredianFi, have integrated with Neon, showcasing its growing success in the industry, primarily on the back of Ethereum and Solana’s rising prominence.

DeFillama data shows that Ethereum is the largest DeFi blockchain, with $45.87 billion in total value locked (TVL) on the network, while Solana’s TVL recently climbed above the $2 billion mark.

Mentioned in this article
Ethereum Solana Neon EVM
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!