Lumen Money’s deployment on Neon EVM marks a pivotal moment in the evolution of decentralized finance (DeFi), offering users innovative lending and borrowing solutions within the Solana ecosystem. The protocol introduces a trustless approach to managing cryptocurrency loans through smart contracts, ensuring transparency and efficiency in the lending and borrowing processes. By leveraging the inherent liquidity and network benefits of Solana, Lumen Money enhances accessibility to DeFi opportunities for users transitioning between EVM and Solana networks.

Empowering Users with Lumen Money on Neon EVM

Lumen Money operates as a fully decentralized, over-collateralized, and non-custodial money market protocol natively deployed on Neon EVM. Through this integration, users can seamlessly participate in lending and borrowing activities, with lenders depositing cryptocurrencies into lending pools to earn interest, while borrowers can access loans against their collateral assets. This ecosystem fosters a dynamic environment where users can interact with various DeFi applications across the Neon EVM and Solana landscapes.

Enhancing User Experience and Participation

To encourage user engagement and participation, Lumen Money introduces innovative features such as Lumen Loyalty Points, which reward users for their lending and borrowing activities within the protocol. With a focus on community-driven incentives and a revenue-sharing model, Lumen Money aims to cultivate a vibrant ecosystem where users are actively involved in shaping the platform’s future. Furthermore, the protocol prioritizes security by integrating industry-standard features and following a transparent interest rate model based on Compound Finance’s utilization-based curve mechanism.

A Path Towards DeFi Evolution

In summary, Lumen Money’s integration with Neon EVM represents a significant step forward in the evolution of DeFi, providing users with enhanced accessibility, security, and flexibility in their lending and borrowing activities. By leveraging the Solana ecosystem’s capabilities and network advantages, Lumen Money aims to become a central liquidity hub for users transitioning between EVM and Solana networks. With its user-friendly interface and robust feature set, Lumen Money paves the way for a more inclusive and efficient DeFi landscape.

About Neon EVM

Neon EVM is an Ethereum Virtual Machine on Solana that allows developers to scale Ethereum dApps using Solana as the settlement layer. It operates as a smart contract on Solana that accepts transaction requests via public RPC endpoints. It allows developers to deploy Ethereum dApps directly with minimal reconfiguration to the code while benefiting from Solana’s technical advantages such as parallel processing.

About Lumen Money

Lumen Money is a decentralized lending and borrowing platform built on Neon EVM. The protocol operates in a peer-to-peer manner, eliminating the need for intermediaries such as banks or traditional financial institutions. Lumen Money aims to be the prime lending platform within the Neon EVM Ecosystem by offering the highest competitive incentives for money markets and having the deepest liquidity.

SOURCE

https://neonevm.org/blog/Lumen_Money_Decentralized_Lending_and_Borrowing_Protocol_Goes_Live_on_Neon_EVM

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Neon EVM Strategic Partnership with Covalent

This strategic collaboration seeks to empower developers and users with seamless access to blockchain data, opening up new possibilities for decentralized applications (dApps) and smart contract development. Through this alliance, Neon EVM and Covalent are set to pave the way for a more transparent, efficient, and user-friendly blockchain experience.

Neon EVM is excited to unveil its strategic collaboration with Covalent, marking a significant milestone for the platform. By integrating with Covalent’s API, Neon EVM bridges the gap between Solana and Ethereum ecosystems, enabling developers to leverage EVM developer tools and Ethereum’s compute layer for transactions on Solana. Covalent’s powerful Unified API brings unparalleled transparency and visibility to assets across various blockchain networks, supporting a vast dataset of over 25 billion transactions, 30,000+ price feeds, and 200,000+ smart contracts. This partnership ushers in a new era of seamless connectivity and data accessibility for the blockchain community.

Covalent plays a crucial role in Neon EVM’s data ecosystem by indexing essential information from Neon transactions, including log events, trace events, and more. Through their convenient API service, Covalent not only offers easy access to this data but also supports customizable dashboards. These user-friendly dashboards require no coding and provide end users with tailored high-level analytics.

This partnership brings about extensive data access and insights within the Neon EVM ecosystem, tapping into Covalent’s vibrant community of Web3 developers, analysts, and dApps. Thanks to Covalent’s flexibility, developers can seamlessly configure multichain development by adjusting the ChainId parameter in API calls, facilitating the smooth transfer of data between Neon EVM and other blockchain networks. The collaboration between Neon EVM and Covalent opens up new possibilities for data analysis and enhances the overall user experience.

The Neon EVM and Covalent roadmap encompasses the following key elements:

• Decentralization of the Neon EVM Data Stack: The roadmap aims to achieve the decentralization of the Neon EVM data stack, ensuring redundancy and enhanced reliability. By distributing data across multiple nodes and networks, this step will bolster the platform’s resilience and minimize the risk of data loss or downtime.
• Customizable Endpoints for Developers: One of the primary objectives is to empower developers by enabling them to build their own customizable endpoints. This feature will provide developers with greater flexibility and control over the data they access, allowing them to tailor their endpoints to specific use cases and requirements.
• No-Code, Intuitive Dashboards for Analysts: The roadmap includes plans to offer analysts easy access to no-code, intuitive dashboards. These user-friendly dashboards will grant analysts the ability to access and visualize data seamlessly, streamlining the analysis process and empowering them with valuable insights.

By implementing these roadmap milestones, the collaboration between Neon EVM and Covalent aims to foster a thriving and dynamic ecosystem where data accessibility, customization, and analytical capabilities are at the forefront. This partnership will undoubtedly contribute to the growth and adoption of Web3 technologies, benefiting both developers and analysts within the blockchain community.

About Neon

Neon EVM is an Ethereum Virtual Machine (EVM) that harnesses the scalability and liquidity of Solana in a fully Ethereum-compatible environment, revolutionizing the decentralized ecosystem by combining the best of both worlds. With a throughput of 2,000+ TPS and gas fees as low as 0.000015 SOL per transaction, Neon EVM empowers developers to create cutting-edge applications and experience the future of interoperability.

DApp developers are able to use the tools they’re familiar with from the Ethereum ecosystem to bring end-users the dApps they know and love — faster and cheaper.

Website | Twitter

About Covalent

Covalent provides the industry-leading Unified API, bringing visibility to billions of Web3 data points. Developers use Covalent to build exciting multi-chain applications like crypto wallets, NFT galleries, and investor dashboard tools utilizing data from 100+ supported blockchains. Covalent is trusted by a community of 35,000+ developers and 5,000+ applications, including 0x, Zerion, Rainbow Wallet, Rotki, Bitski and many others.

Website | Twitter

SOURCE

https://medium.com/@neon_evm/neon-evm-partners-with-covalent-bringing-data-accessibility-to-the-neon-evm-platform-3a6310cd2d57

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Neon EVM will go live on Mainnet on Dec. 12, 2022, making it the first EVM on Solana. Without making any changes to their code, Ethereum-based applications will now have access to Solana’s scalability and liquidity.

Neon EVM will go Live on Mainnet on 12.12.22

The upcoming Mainnet launch of Neon EVM was made possible by their team’s hard work and ingenuity this past year in the face of some of the most difficult technological challenges in the blockchain.

Marina Guryeva, CEO and Founder of Neon Labs, was proud to share the behind-the-scenes work that had brought Neon EVM to this point at this year’s Solana BreakPoint event.

Marina also provided her thoughts on our upcoming Mainnet launch, saying:

“Neon EVM unites the best of two worlds, Ethereum and Solana, and puts to rest the Ethereum killer narrative once and for all. Ethereum-based projects can, for the first time, tap into the previously inaccessible audience and liquidity of Solana without needing to rewrite their code in Rust. As a result, users will now get to enjoy enhanced user experiences on Solana without losing out on Ethereum’s battle-tested dApps.”

Neon EVM is the first and only EVM on Solana, and it will have a profound impact on both the Ethereum and Solana ecosystems. For Ethereum projects aiming to expand into new ecosystems, differing programming languages are no longer a concern. Developers familiar with Solidity, Vyper, and the existing Ethereum smart contract languages can now use Neon EVM to deploy on Solana. Ethereum projects can now tap into Solana and access its large user base, which averaged 20.5M monthly active wallet addresses in the past three months. On the flip side, the Solana ecosystem will soon have access to Ethereum’s massive suite of dApps.

“Rather than looking at Ethereum, Solana, and other emerging L1s as disconnected blockchains, through Neon EVM’s launch we aim to foster multi-chain ecosystem growth by leveraging each blockchain’s respective strengths,” Marina continued.

The State of Technology

Their Mainnet debut is only the beginning. They will dive deep into the state of Neon technology and report on topics like dApp testing, performance testing, operators, the Neon Proxy, NeonPass, NeonScan, Tracer API, transaction indexing, tokens, gas prices, and governance in the sections below.

dApp Testing

In recent months, they have collaborated with MixBytes, Robonomics Network, and Zpoken to deploy and test popular Ethereum dApps on Neon EVM. A diverse set of dApps, including Compound, Uniswap v2, AAVE, Curve, Sobal, and Robonomics’ liability contract, were chosen to test Neon’s EVM compatibility. All of the use cases investigated were successful, and the underlying smart contracts worked properly and efficiently.

Read more about each performance testing scenario in the articles linked below:

• MixBytes Successfully Deploys Uniswap V2 Protocol on Neon EVM
• Robonomics Network’s Liability Contract is Successfully Executed on Neon EVM
• Zpoken Successfully Deploys the Compound Protocol on Neon EVM

Performance Testing

They ran a series of synthetic tests on Neon EVM and obtained results of 2000+ TPS. Synthetic tests only measure the speed of the Neon EVM smart contract without the use of Neon Proxy.

Neon Proxy

The Neon Proxy is require for converting a Neon transaction into a Solana transaction. It improves the user experience for operators in the Neon ecosystem and allows Ethereum dApps to be ported to Neon with almost no code or configuration changes because the proxy handles all “translation.”

Operators

Operators are an important part of the Neon ecosystem. There are no additional steps require after a user submits a transaction to Neon EVM to execute the instructions or store the data required for a transaction. Neon Operators and the operator’s software handle the complexities automatically. The cost of a transaction is ultimately determine by the transaction type. Operators use Neon Proxy, which aids in the execution of Ethereum-like transactions on Solana. This enables Ethereum dApps to be ported to Neon without requiring any code changes.

The operators of the mainnet will be listed here.

NeonPass

Solana and Neon will use NeonPass to transfer assets. It is important to know that NeonPass sends the original SPL asset from the source to the destination address. This “transfer” functionality is very different from the “bridging” functionality of standard blockchain bridges. Bridges encrypt original assets in smart contracts and create “synthetic” assets in destination blockchain ecosystems. These synthetic assets (also known as SPL-wrapped assets) are SPL versions of their associated ERC-20 counterparts in the context of Solana-Ethereum blockchain bridges.

Tracer API

The Tracer API is a Neon Proxy extension. They implemented a tracing API to assist developers in better testing, debugging, and understanding their Neon EVM smart contracts. The API will provide developers with a full externality trace on any transaction executed on the chain. They will be able to rerun historic transactions, create new transactions based on historic states, and analyze the state of the blockchain after each instruction is executed.

Wallets

Neon is an EVM environment and currently supports MetaMask.

Block Explorers

Their team has successfully integrated with NeonScan to provide the ecosystem with Block Explorer infrastructure. In a standard block explorer interface, NeonScan allows users to search the Neon blockchain for information such as block data, transactions, and addresses.

Indexing of Transactions

Aleph created a NeonAnalytics dashboard. The dashboard enables data querying on the blockchain, which results in more efficient dApp development for project teams.

Integration with The Graph protocol is underway to bring high-efficiency blockchain app. Querying to Neon EVM in an effort to further transaction indexing capabilities on Neon EVM; their team plans to run a Graph Node and will continue to build out tracing API services for use by dApps on Neon EVM.

Tokens

NEON, an SPL token used to pay for transactions and participate in DAO governance on Neon EVM.

Gas Price

Neon EVM inherits Solana’s low transaction fees. A Neon transfer costs 0.000015 SOL / tx and a simple swap costs 0.0002 SOL / tx.

Governance

Neon DAO will be live on day 1 of Mainnet launch. It will function as a normal DAO and use NEON as the governance token. Each token is equivalent to one governance vote.

Projects Being Built on Neon

Neon EVM will go Live on Mainnet

Beyond Mainnet

The road to Mainnet,  focused on solidifying the Neon EVM proof of concept, testing key dApps, and developing new dApps.

Neon EVM stabilization, ERC-20 with SPL support, Halborn and Ackee security audits passed, NeonPass rolled out, and NeonScan launched

They will now focus on early dApp deployments, the Neon DAO governance rollout, maintaining a Mainnet-ready Neon EVM, and integration with The Graph.

Pyth and Chainlink support, as well as NFT interoperability with Solana and whitelisted operators.

Looking beyond Mainnet, their team will focus on exploring interoperability with Solana smart contracts. Neon ecosystem growth, the grants program launch, developing a decentralized operators network, Neon EVM full compatibility Ethereum, and supporting top industry ecosystem tools and services.

About Neon

Neon lets users run any Ethereum protocol on Solana, without any changes to its codebase. Including Uniswap, Sushiswap, 0x, MakerDAO, and countless others. In other words, Ethereum developers can soon deploy their apps to Solana, a blockchain that can process 50K transactions per second at $0.0025 apiece.

Website | Twitter 

SOURCE

https://medium.com/neon-labs/neon-evm-set-to-go-live-on-mainnet-welcome-to-a-new-era-of-ethereum-scalability-on-solana-63b25bcc77a3

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