The integration of Neon Stacks by Yona Network will enable the unlocking of $1 trillion in Bitcoin liquidity.
In order to include Ethereum Virtual Machine (EVM) compatibility in the Bitcoin network, Yona Network, a Solana Virtual Machine (SVM) Bitcoin Layer 2 network, has implemented Neon Stacks.
The objective of this collaboration, as stated in a July 25 statement that was shared with CryptoSlate, is to improve the accessibility and scalability of decentralized applications (dApps) on the most prominent blockchain network, all while encouraging innovation within the Bitcoin DeFi ecosystem.
Simultaneously, the transition will grant EVM developers and consumers access to over $1 trillion in liquidity and assets, including Ordinals, Runes, and BRC-20s, on the Bitcoin network.
Bitcoin will benefit from Solana’s exceptional transaction processing capabilities as a result of Yona Network’s SVM integration. This action has the potential to attract an increased number of Ethereum and EVM-based DeFi initiatives to the Bitcoin network.
In accordance with the claims: “Yona plans to combine SVM with Bitcoin in order to bring Solana’s scalability and modularity to the platform. This will make it an attractive platform for next-generation decentralized applications (dApps) on the Bitcoin ecosystem, which will increase its liquidity.”
Neon Stacks, which provides Ethereum compatibility with the Solana blockchain, will provide support for Yona’s vision. The anticipated outcome of the collaboration is the improvement of blockchain scalability and interoperability.
Neon EVM CCO Davide Menegaldo emphasized that the integration would expand Yona Network’s market audience and promote interaction with Ethereum. Additionally, he stated:
“This case study is ambitious and innovative in the modularity field; it combines Bitcoin as the fundamental asset layer with the SVM execution environment and EVM compatibility. In an unprecedented manner, Yona’s methodology capitalizes on the merits of each L1 (Bitcoin, Solana, and Ethereum).”
According to Max Sultakov, CEO of Yona Network, the integration with Neon Stacks is a groundbreaking development that will convert the blockchain network into a universal programmable layer for Bitcoin. He stated:
“Neon Stack changes the game by introducing EVM compatibility to SVM chains in a manner that is unmatched. This transforms Yona Network into a universal programmable layer for Bitcoin, unlocking its tremendous potential.”
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