NEOPIN Adds ETH Support to the EVM Bridge & Launches nETH Liquidity Pools!
Great news for the NEOPIN & Klaytn communities! We’re expanding ETH support through the NEOPIN EVM Bridge, alongside introducing a new liquidity pool between nETH and nUSDT. These updates are designed to enhance your trading experience by offering increased flexibility and more opportunities for profitability.
Mark your calendars — these updates are set to launch on April 11th.
ETH Integration with NEOPIN EVM Bridge
You can bridge your ETH to nETH (wrapped ETH on the Klaytn network), ensuring secure and smooth transactions. The NEOPIN Bridge utilizes a mint-and-burn mechanism, where the original ETH is locked in a vault, and a corresponding amount of the bridged token, nETH, is minted. Consequently, the value of nETH is pegged to the value of the original ETH at a 1:1 ratio.
Need your ETH back? The process is easily reversed, ensuring hassle-free trading. When the nETH is bridged back, the token will be burned, and the corresponding amount of the original ETH will be unlocked and released to the user.
Launch of new nETH Liquidity Pools
To complement the ETH support, we’re launching the nETH-nUSDT and nETH-KLAY liquidity pools on the Klaytn network. These new pools enable you to provide liquidity using the newly introduced nETH, thereby earning yield farming rewards of up to four-digit APRs for the initial pool launch and a share of the transaction fees. The nETH-nUSDT and nETH-KLAY liquidity pools are designed to facilitate smoother, more efficient transactions and to enhance liquidity options within the Klaytn ecosystem.
Why It Matters
These updates align with our mission to become a multichain platform and to establish ourselves as the №1 DeFi protocol within the Project Dragon (Klaytn & Finschia merger) ecosystem. We believe these enhancements will not only increase our platform’s flexibility but also open up new avenues for users within the NEOPIN, Klaytn, and Finschia ecosystems.
