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Home»ETHEREUM NEWS»Vibrant Finance leverages Neon EVM for groundbreaking DeFi exchange innovation.
ETHEREUM NEWS

Vibrant Finance leverages Neon EVM for groundbreaking DeFi exchange innovation.

By Crypto FlexsFebruary 23, 20242 Mins Read
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Vibrant Finance leverages Neon EVM for groundbreaking DeFi exchange innovation.
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According to a press release on February 23, decentralized exchange (DEX) Vibrant Finance has entered the non-Ethereum DeFi environment based on Neon EVM, a Solana-based platform.

DEX overcomes the existing limitations of traditional DeFi exchanges by leveraging the Discretized-Liquidity Automated Market Maker (DL-AMM) model.

Vibrant Finance CEO Jimmy Yin expressed enthusiasm for this deployment on Neon, highlighting its potential to bridge Ethereum’s vibrant DeFi ecosystem with Solana’s strong liquidity and trading efficiency.

“With the latest deployment of Neon EVM, we aim to make liquidity more efficient and promote collaboration between chains and ecosystems,” Yin said.

Known for providing separate liquidity for each price movement, the DL-AMM model facilitates accurate liquidity allocation at a specific fixed price. This innovative approach solves the challenges of DeFi exchanges and optimizes liquidity management for users. It also introduces advanced trading features such as limit orders to enrich users’ trading experience.

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

Neon EVM Growth Ecosystem

Neon EVM facilitates scaling Ethereum decentralized applications (dApps) on Solana, making it the ideal choice for Vibrant Finance to scale beyond Ethereum.

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

Several DeFi protocols, including deBridge and MeredianFi, have integrated with Neon and are seeing increasing success in the industry, primarily due to the growing prominence of Ethereum and Solana.

Ethereum is the largest DeFi blockchain, with total value locked (TVL) on the network reaching $45.87 billion, while Solana’s TVL recently surpassed $2 billion, according to DeFillama data.

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