Exciting developments, Web3 community! Start your Web3 builder journey in 2024 with Neon EVM as we bring you the latest in seamless interoperability and cross-chain native asset transfers in partnership with deBridge.
In November 2023, we announced the partnership between Neon EVM and deBridge to facilitate rapid cross-chain transfers. We are pleased to state that the team has delivered, and as of February 07, 2024, deBridge is officially live on Neon EVM Mainnet.
We remain committed to offering developers unparalleled tools to interact with assets seamlessly. Let’s focus on what this partnership brings and consider how it could benefit your dApp. Additionally, check the step guide below to see how seamless it is now to move assets from any EVM chain to Neon EVM.
Redefining dApp interactions with assets in a cross-chain environment
Neon EVM is built on Solana to empower developers to scale Ethereum dApps. Thanks to Solana’s sea level technology, Neon EVM is the first parallel processing EVM on mainnet, allowing dApps to run high-speed low-cost parallel transactions.
deBridge is a pioneering solution that redefines the possibilities of blockchain interoperability with deBridge IaaS (Interoperability-as-a-Service). deBridge enables an interoperable infrastructure layer for Web3 to enhance value transfer between various blockchains.
By building on Neon EVM and leveraging deBridge’s interoperable APIs, developers can offer lightning-fast, native cross-chain transfers. This strategic partnership will alleviate bottlenecks that exist in blockchain interoperability, as well as usher in a new generation of decentralized applications. It helps boost ecosystem liquidity, secure cross-chain exchanges, and ease user experience by eliminating token wrapping.
How does this help Neon EVM users?
deBridge’s partnership with Neon EVM will help unlock the full potential of building on Ethereum-native systems while leveraging Solana’s settlement layer. Benefits include:
Enhanced liquidity and user experience: With this partnership Neon EVM opens a direct gateway with other chains, allowing users to make fast and easy swaps between native assets. Users can easily move native assets without being confined to the limitations of traditional token wrapping or slippage issues due to liquidity pools. The process is simplified, allowing order transaction fulfillment by market makers. Additionally, it is more scalable, too, as users can swap even large orders with a reduced impact. Wait, what’s all this about native assets, you ask?!?
Revolutionary native token transfer mechanisms: Well, it maybe time to say goodbye to wrapped assets! Our revolutionary product NeonPass facilitates the two-way transfer of SPL tokens between Solana and Neon EVM without creating new wrapped versions of tokens. The DLN mechanism by deBridge ensures seamless transfer of native assets across an expanding ecosystem of EVMs. This potentially unlocks access to Ethereum and EVM-native chains, such as Ethereum, BNB, Polygon, Arbitrum, Optimism, Linea, Base, and Avalanche. The growth of the cross-chain EVM ecosystem broadens the scope of the Neon EVM DeFi ecosystem, infusing liquidity from both Ethereum and Solana.
Advanced infrastructure with deBridge IaaS: The integration with deBridge IaaS introduces a comprehensive solution for an advanced infrastructure layer, comprising dePort for one-click asset custody, deBridge Data Transfer for decentralized cross-chain messaging with authentication, and DLN (deSwap Liquidity Network) Value Transfer to address liquidity. This 3-in-1 offering streamlines infrastructure and enables effortless expansion into neighboring ecosystems with no/minimal code reconfigurations. This is especially beneficial for large protocols that leverage multichain governance.
Enhanced cross-chain interoperability: Eliminating the reliance on wrapped tokens simplifies the asset transfer process, making it more efficient, secure and transparent. This streamlines the cross-chain bridging process and enhances interoperability between diverse blockchain networks creating interesting use cases for multichain governance, multichain native 1:1 swaps with 0 slippage, and so on. Developers can navigate cross-chain transactions, fostering a more interconnected and fluid ecosystem.
Empowering dApps with new markets: The collaboration between deBridge and Neon EVM is poised to empower builders to take their projects across multiple ecosystems. Developers can scale Ethereum dApps using Solana’s parallel execution environment with minimal code adjustments. This is a momentous step towards unlocking the full potential for Web3 markets and accelerating adoption using the transformative experience of an EVM ecosystem.
Marina Guryeva, CEO of Neon Foundation, highlights the impact of these benefits — “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.”
How to use deBridge infra on Neon EVM Mainnet: Step-by-step
For builders on Neon EVM, using deBridge infrastructure is super easy! Simply select the destination and source chain and the amount of native assets to be transferred, and get seamless access to secure exchange — no liquidity pools, no wrapped tokens.
Here are some steps to help move assets from any Ethereum native chain (from above mentioned list) to Solana using Neon EVM-deBridge infra:
Step 1: Select a native asset for swap
Open deSwap, connect your Ethereum native wallet, and select the source and destination chains for the native asset transfer. In this example, we connect Metamask wallet to exchange native 10 USDC stablecoin from the Polygon chain (L2 Ethereum native) to Neon EVM.
Step 2: Pay gas fees and confirm the transaction
The gas fees will need to be paid in the native token of the source chain. View trade details with the wallet summary, including outgoing funds, associated fees, and the total funds you will receive. Confirm the trade and sign the wallet transaction.
Step 3: Receive native assets on Neon EVM
Once block confirmations are through, the order stands fulfilled, and you will receive funds in your wallet on Neon EVM chain. This way dApp builders on Neon EVM can access liquidity on any chain from the list of chains supported via deSwap.
If you have any questions, please open a ticket in our Discord, and Neon EVM team will help you. Together let’s build the foundation of a more interconnected and dynamic web3 ecosystem. Start your builder journey on Neon EVM now.
Are you building?
If you plan to build your dApp, read more on Neon EVM architecture on our docs. Reach out to Can Inelli our Business Development Manager at ci@neonfoundation.io Don’t miss a beat: join Neon EVM on Discord and Twitter for the latest updates.
