Neon Stack For Yona Network: Potential to Open New Frontiers in Bitcoin DeFi

Gm degens,

Welcome to a world where you wish Bitcoin moved faster than Lambo….welcome to a world powered by Neon Stack.

Today we are thrilled to announce a new era where Neon Stack on Yona Network can help the mission of bringing unparalleled innovation and scalability to the Bitcoin DeFi ecosystem. Yona Network is a Layer 2 (L2) on Bitcoin that uses Solana Virtual Machine (SVM) for execution. As a result of this collaboration with Neon Stack, Yona Network’s L2 chain now has the potential for EVM compatibility access via Neon Stack.

This will open doors for potentially allowing EVM-native developers to access low fees and high-speed transaction execution on the world’s pioneering blockchain — the Bitcoin chain!

While Bitcoin has always been the pioneer of the cryptocurrency world, its journey has been limited to being a store of value. This integration takes things to an exciting turn by heralding the inception of a high-throughput Bitcoin decentralized finance (DeFi) ecosystem.

That said, let’s jump right into the details.

Yona Network: L2 on Bitcoin with SVM Execution

Yona Network is at the forefront of blockchain innovation, leveraging the SVM to deliver the fastest execution layer on Bitcoin. Designed as a modular L2 solution, Yona Network enables lightning-fast transactions and limitless scalability, making it the ideal platform for next-generation dApps within the Bitcoin ecosystem.

Key Features of Yona Network:

• Transaction Speed: Utilizes SVM to achieve significantly higher transactions per second (TPS) compared to traditional EVM-only chains.
• Liquidity: Provides access to Bitcoin liquidity for dApps building on Yona Network.
• Scalability: Modular architecture combining Bitcoin settlement, SVM execution, scalable data availability (DA), and RISC Zero for ZK Bitcoin Light client and verifiable computations.
• Enhanced Security: Developing zkSVM to ensure all computations on the network are verifiable, enhancing security.

As opposed to other Bitcoin L2s running traditional EVM-only chains, Yona Network uses SVM, which has significantly higher TPS and better performance. They aim to enable building things that are not highly scalable on EVM-powered Bitcoin L2s, such as on-chain order books and various trading-related functionalities.

Today, a huge part of the DeFi ecosystem is EVM-native (approx 70 billion TVL). To enable this EVM dApps community to port and move to Yona Network for Bitcoin blockchain access, an EVM to SVM compatibility solution is needed. This is where Neon Stack fills the gap.

Neon Stack: Unlocking New Potential for Yona Network

Neon Stack, a standardized development stack designed to facilitate code compatibility for smart contract developers, offers Ethereum compatibility on the Solana blockchain. It is a framework that allows SVM-powered blockchain networks, such as Yona Network, to integrate support for Ethereum-native solidity dApps. Neon Stack is the first EVM to SVM stack and the only mainnet live solution to offer this compatibility between the two L1s — Solana and Ethereum — and their native ecosystems.

The Neon Stack offering has been battle-tested on Solana mainnet since July 2023, and other protocols, such as Eclipse, have deployed the tech stack. The integration of Neon Stack with Yona Network brings a host of mutual benefits, significantly enhancing ecosystems on both sides — the Ethereum and Bitcoin environments.

Yona Network intends integrating Neon Stack to explore the prospects of launching EVM-based dApps in the Yona ecosystem. This may open up new opportunities for developers, allowing them to port existing dApps to the Yona ecosystem using an EVM-based codebase and Solidity or Vyper contracts.

When completed, this integration will allow Yona to leverage the vast expertise and capabilities of the EVM builder community alongside the specialized skills of pure SVM developers, unlocking Bitcoin as an L2.

A Word from Yona Network CEO

“Neon Stack is a game-changer, bringing EVM compatibility to SVM chains in a way that’s never been done before. This unlocks incredible potential for Yona Network, transforming it into a universal programmable layer for Bitcoin.” Max Sultakov, CEO & co-founder of Yona Network.

Benefits for Developers and Users:

• Access to the Bitcoin ecosystem: Developers and users will gain entry into the Bitcoin ecosystem, tapping into over $1 trillion of untapped liquidity in $BTC and unique Bitcoin-based assets like Ordinals, Runes, and BRC-20s.
• Enhanced capabilities:Yona users will benefit from Neon Stack’s advanced capabilities, which are allowing to foster the development of innovative EVM-SVM solutions and improve overall user experience.
• Cross-community synergies: The collaboration strengthens blockchain communities, fostering innovation and driving the growth of DeFi on Bitcoin.

Future Outlook

The blockchain ecosystem has long been unable to utilize the Bitcoin blockchain’s liquidity and build scalable dApps on it. For developers, this would mean unparalleled access in a modular, scalable, and EVM-compatible environment that simplifies the deployment process.

The partnership would bring users a superior DeFi experience with faster and cheaper transactions. As both partners build together, the coming months will witness significant advancements in the Bitcoin DeFi space. Stay tuned for more updates in the coming weeks.

Are you Building?

Read more on Neon EVM architecture on our docs. If you are a gaming studio or plan to build your gaming dApp, contact Ramiro Gamen, Neon EVM Partnership Lead, at ramiro.gamen@neonfoundation.io for an insightful conversation. Don’t miss a beat: follow Neon EVM latest updates on Discord and Twitter.

About Neon EVM:
Neon EVM is an Ethereum Virtual Machine (EVM) that empowers developers to build and deploy dApps seamlessly from EVM chains to Solana, all from their existing codebase. It operates as a program on Solana that accepts transaction requests via public PRC endpoints. It gives developers the power to directly deploy Ethereum dApps with minimal reconfiguration to the code while benefiting from Solana’s technical advantages, such as parallel processing. For more information about Neon EVM and future updates, visit NeonEVM.org and connect with the community on Twitter or Discord.

About Yona Network:
Yona is the fastest modular Bitcoin L2 based on SVM. Yona enables lightning-fast transactions and offers limitless scalability, paving the way for next-generation protocols tailored to enhance the user experience within the Bitcoin ecosystem. Visit https://yona.network/ for more details.

*Disclaimer: The information contained on this webpage shall not be considered as being of a promotional nature or aiming at commercial use and is not intended as and shall not be understood or construed as legal, tax, investment, financial, or other advice. Nothing contained in this constitutes a solicitation, recommendation, endorsement, or offer by Neon EVM or any third-party service provider to buy or sell any crypto-assets or other financial instruments. We recommend users do their own research, fully understand the nature of their purchase/actions and the risks involved and always seek independent financial advice if in doubt.