Demex Daily #75: Aave v3 Launches on Neon EVM, Enhancing Solana's DeFi Ecosystem

What’s Interesting Today:

The deployment of Aave version v3 on the Neon EVM mainnet has been approved by the Aave DAO, a significant development for the DeFi sector in the Solana network, as reported on the Snapshot page. Marina Guryeva, the CEO of Neon Foundation, expressed enthusiasm about this move, noting it as a vital step towards creating a unified and efficient DeFi ecosystem across multiple chains. She highlighted that with Aave v3's integration into Neon EVM, the fast processing speeds and low transaction costs of Solana will be harnessed to improve DeFi activities like lending and borrowing.

0x, a prominent web3 infrastructure developer, has launched the Tx Relay API, enabling "gasless" trades on Ethereum and Polygon, with plans to expand to Arbitrum. This innovative API allows cryptocurrency swaps without spending ETH on gas fees, addressing a common issue that causes 8-10% of DEX transactions to fail, especially during high network congestion. The gas cost is integrated into the transaction and is paid in the swapped token itself. This simplifies trading and resolves issues like insufficient gas fees, which is particularly beneficial for new traders who often don't have enough native tokens for gas. Tx Relay also offers MEV (Maximal Extractable Value) protection against advanced trading bots. The feature has been successful during its beta phase on Coinbase, significantly reducing failed trades. This development is expected to enhance the crypto trading user experience, making on-chain transactions more accessible, especially to new users. The note on Giddy wallet's similar feature on Polygon indicates a growing trend towards more user-friendly, gasless transaction options.