Neon EVM Partners With deBridge Protocol

On this segment of the protocol, we take a look at a new development that could make interoperability across blockchains easier. The protocol is presented by the Stellar Community Fund Accelerate your web three project with Stellar Funding. Neon EVM recently launched a cross chain native asset transfer with de bridge integration. The partnership hopes to streamline native asset transfer and enhance interoperability here to tell us more is Neon Evm, Chief product Officer Yury Yurchenko and D Ceo Alex Smirnov. Hello. Hello. Awesome to have you both on the show before we dive deep into this. Let's broaden this out very briefly. Tell me about what this partnership means for developers in the space. Yeah, absolutely. So first, my name is Alex IC O and co-founder at the bridge. Um Our team is very excited to work together with Neon to enable high performance cross chain interoperability. So, uh generally speaking, what we do in Deri is like we are interconnecting different Blockchain ecosystems to enable decentralized and very fast transfer of liquidity and information, right? And Neon is the event compatible uh adapter for the salon ecosystem that allows to convert any event transactions and get them executed on SOLANA which is like very fast performance and very low cost Blockchain ecosystem with the fast transaction. So what the bridge allows here is like interconnecting broader defi ecosystem to neon so that any event protocols or any users from like prolapse or event compatible chains can easily leverage the high performance aspects of salon ecosystem and deploy their protocols on SOLANA using neon at the adapter or even compatible ecosystem. And from our side, we need a very seamless and fast on boarding of liquidity and users from those roll ups and chains. Yuri, what challenge does this solve? Pol its transferring all liquids uh mine liquids from Ethereum World to Neon M and vice versa without any erupting minting and a lot of risk like the big in assets when someone hikes protocols, especially bridge and protocols. So mostly solves issue with uh transferring and simplifying this transfer faces between EV MS. You mentioned hacks there. When we talk about interoperability, we know that we've seen bridges be one of the most vulnerable uh aspects of the defi ecosystem. How does this enhance security or are there still some risks prevalent security has been very challenging aspect of the cross chain space? Right. And we've seen many bags and like the biggest exploits were happening with the bridging protocols. And I I think that the main reason is that like historically, all most of the bridges have been designed in a kind of flawed way, right? Because all the bridges are leveraging liquidity pools which are used for settlement. And this liquidity pools are sort of honey pools for all the hackers, right? And in debris, we've taken a very different approach. We pioneered zero TV eight model which is based on cross chain intense. So instead of using liquidity pools, we leverage the network of private market makers and mev searchers who execute or file fill transactions for users. So basically any cross chain transaction or any bridging transaction is just limit order or intent that user creates, right? So as a user, I can say, look guys, I'm giving 100 US DC on Polygon to anyone who will provide me with 99 9.5 U DC on Neon ecosystem. So I kind of specify the 0.5 US D as an incentive and any address any on chain market maker that executes by transaction on neon will be able to unlock this 100 US DC on polygon and earn this spread, right? And with this design, we don't have any bottlenecks of liquidity pools because like historically, the three main problems of all the bridges is security scalability and capital efficiency because in order to fulfill all the transactions, bridges have to attract and retain a ton of liquidity in the smart contracts in the polls, right? Creating honey pots and also bearing a ton of cost on retaining that liquidity. While in our case, it's like just in time liquidity model where market makers get that executed. And yeah, that's how we leverage that with Neon Ecosystem as well. We've talked about some of the challenges that this solves for developers. Um Let's talk about users now, what can users expect to experience on the other side of of the um equation? Now, developers are building using the technology. What does this enable for users? Uh I would say it enables seamless transfer any assets of four users between uh all EB MS connected to the bridge. But now it's become available to bring to Neon EBM too. So this is one of the choice why we chosen the bridge. First Alex mentioned like it's uh one of the Securest bridge in the world that hasn't been hacked. And second, it's user experience, you no need to uh wrap your tokens and then find the new de is where you can change your wrapped tokens to unwrapped one and use it. You can just transfer your tokens get native tokens. So for instance, neon and use it. Yeah, I think, I think one of the goals that we really managed to achieve is to enable the new level of U A for the cross chain space, right? Because users don't need to think about bridges anymore. The whole infrastructure stack is fully abstracted away. User can just specify the action that he wants to achieve, right? So he can say, OK, guys here is 100 like you see on one chain and I want to get this amount to be deposited to Ave on neon Y and that will get executed a matter of seconds. So user does not need to wrap his head around on how to bridge this liquidity to neon. What bridges he got to use just like abstracted away by this intent based uh layer and user experience is like very important, right? And then another interesting aspect of it is that any cross chain bridging transaction, any cross chain trade can be tied into the instruction, right, that should be executed on behalf of the user. So I can say, OK, here is my liquidity and I want to purchase NFT on open C or here is my liquidity and I want to have it to be deposited to some protocol on another side and all these interactions are executed so quickly that the U AX just feels like on centralized exchanges or like on so on. Everything is very quick. So we kind of expand this like high performance nature and high performance UX from Salami a system to the broader cross chain space. What kind of D apps or uh industries within the web three ecosystem do you believe will benefit most from this? First of all, all defi apps will benefit from it because uh it allows to them have all access to all liquidities, not only in our case, not only in Salam Iem, but the from IBM world or to the and etcetera. They can choose protocols and users can choose where they will transfer the liquidity where it's stored based on for D developers, it's mostly based on, I would say capital efficiency of platforms and the apps and phone users or highest API as usual. So you are not uh mostly connected or stuck to this, the one Blockchain that are not connected to any others. You can choose between any of the Blockchain depending on your request. Yeah, adults in terms of deployments like DPS, deploy on Neon dps can benefit from the high performance under Langler or nature of the salon ecosystem, like super cheap transactions and very fast transaction finality, right? Which is like very important for use cases such as pavements and leveraging the breach as an interoperability infrastructure that can facilitate that boarding of any users and liquidity from other chains, right? Because like any transaction can be executed without slippage and nearly instantly. So that allows developers and projects to focus on user experience to focus on products instead of thinking about like how do, how do I make my do to be scalable? Do I do I need to launch my roll roll up or like the app chain thesis simply like does not exist with this kind of approach. And that allows to like allows developers to focus on user experience and be and create like users first product instead of thinking about the infrastructure stuff here and Alex, we are going to have to leave it there. Thanks so much for joining the show today. Thank you. It's been a pleasure. Thank you, Jen for hosting us. That was Neon Evm, Chief Product Officer Yurchenko and De Bridge, CEO Alex Smirnoff.