Neon EVM accelerates DeFi innovation with launch of iZUMi-based Vibrant Finance DEX
Posted: February 23, 2024 9:00 AM Updated: February 23, 2024 11:40 AM
Correction and fact check date: February 23, 2024, 9:00 AM
briefly
Vibrant Finance, a decentralized exchange backed by Izumi, debuted on Neon EVM to expand beyond the Ethereum-based DeFi ecosystem.
Vibrant Finance, an Izumi-backed decentralized exchange (DEX), announced the launch of Neon EVM in an effort to expand its reach within the decentralized finance (DeFi) landscape.
The deployment of Neon EVM represents an essential step for Vibrant Finance as it seeks to expand its operations beyond the Ethereum-based DeFi ecosystem. Vibrant Finance aims to address existing limitations observed in traditional DeFi exchanges by leveraging the Discretized-Liquidity Automated Market Maker (DL-AMM) model.
Jimmy Yin, CEO of Vibrant Finance, expressed excitement about this deployment, highlighting the benefits and potential of connecting Ethereum’s rich DeFi ecosystem with Solana’s strong liquidity and trading efficiency.
“We are excited to partner with Neon EVM to drive Solana’s integration with the EVM ecosystem, a direction we strongly believe is for the future. With our latest deployment on Neon EVM, we aim to make liquidity more efficient and foster collaboration across chains and ecosystems,” Jimmy added.
The DL-AMM model provides individual liquidity for each price movement, enabling accurate liquidity allocation at a specific fixed price. This evolution from the traditional price range-based distribution model enhances liquidity management and introduces additional trading methods such as limit orders, enhancing the overall trading experience for users.
Neon EVM integration enhances Vibrant Finance’s DeFi capabilities
Built on Solana, Neon EVM is emerging as Vibrant Finance’s preferred ecosystem thanks to its parallel processing capabilities and seamless access to the Solana blockchain. This infrastructure allows Vibrant Finance to leverage Solana’s high-speed features and low-cost transactions while maintaining compatibility with the Ethereum ecosystem.
Vibrant Finance aims to create a more interconnected and efficient DeFi environment by expanding into the non-Ethereum-based DeFi ecosystem through the deployment of Neon EVM. This move provides users with access to Ethereum’s powerful DeFi framework and leverages Solana’s unparalleled performance capabilities.
The addition of Vibrant Finance to Neon EVM ensures users an exceptional trading experience and improved capital efficiency. As Neon EVM continues to evolve, Vibrant Finance’s presence is expected to significantly contribute to the ecosystem’s growth trajectory, further enhancing its features and services.
Neon EVM is Solana’s Ethereum virtual machine that allows developers to scale Ethereum dApps using Solana as a payment layer. It operates as a smart contract on Solana that accepts transaction requests through a public PRC endpoint.
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Kumar is an experienced technology journalist specializing in the dynamic intersection of emerging fields including AI/ML, marketing technology, cryptocurrency, blockchain, and NFTs. With over three years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and providing comprehensive insights. Kumar’s specialty is producing high-impact content including articles, reports and research publications for prominent industry platforms. With a unique skill at combining technical knowledge and storytelling, Kumar excels at communicating complex technical concepts in a clear and engaging way to diverse audiences.
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Kumar is an experienced technology journalist specializing in the dynamic intersection of emerging fields including AI/ML, marketing technology, cryptocurrency, blockchain, and NFTs. With over three years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and providing comprehensive insights. Kumar’s expertise lies in producing impactful content, including articles, reports and research publications for prominent industry platforms. With a unique skill at combining technical knowledge and storytelling, Kumar excels at communicating complex technical concepts in a clear and engaging way to diverse audiences.