Slow Adoption of Solana's $NEON and Other EVM Chains

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Solana's new EVM chain, $NEON, has just launched. But adoption is slow, with only ~200+ daily transactions. Neon isn't alone in this struggle. Here's how EOS, Near, Polkadot, and Cosmos EVM chains and their tokens compare: 👻🏘️

Neon merges Ethereum's EVM infrastructure with Solana's speed & low fees. But since the recent launch adoption is slow: • Avg. new accounts/day: ~50 • New transactions/day: 200+ • dApps deployed: 2 • TVL in dApps: $23k USD It's not just Solana's EVM struggling.

EOS EVM has already launched 4 months ago. It's "designed to be the most performant and compatible EVM on the market," offering: • 1-second block intervals • Low gas fees ($0.01 USD) • Support for 800+ swaps per second So, how are DeFi degens enjoying that SPEEEEED? twitter.com/DefiIgnas/status/1647880244001656832

EOS EVM numbers in a nutshell: • Daily Txs: ~400 • dApps count: 6 • TVL: $800k Not exactly thrilling.

Also, 99% of that EOS TVL is tied up in one dApp—Noah Swap. The majority of Noah's liquidity comes from EOS/USDC and EOS/USDT LP pools. Arbitrage bots aren't even taking arbitrage opportunities here where the EOS/USDT pair was trading $0.03 cheaper. Btw, check 24h volume.

Near's Aurora had a blast in 2022, reaching $1.28B USD in TVL. Fast forward to today, it sits at a modest $15.8M, with a 24-hour DEX volume of only $10k USD. Only four dApps boast a TVL of $1M+

Next, is Moonbeam - EVM parachain of Polkadot. All things considered, it's doing ok. TVL dropped from ATH of $274M to $43M, but DEX trading volume is ~$1M USD!!! Also, a few leading dApps like Lido, Frax, and Curve have deployed on it.

Cosmos Kava is a shining star. TVL dropped from $664M to $212M, but trading volumes are growing. Kava's success led Tether to launch native USDT on Kava, while other chains mentioned here don't have it. Also, Kava still offers liquidity mining with good APY to attract TVL twitter.com/Tether_to/status/1671445095965499393

And KAVA isn't just performing well in terms of TVL. $KAVA has actually outperformed ETH year-to-date. Solana's $NEON, dumped upon launch and is currently trading below its token sale price on CoinList. Moonbeam's $GLMR and $AURORA are really struggling.

Aurora, Moonbeam, and Kava were launched during the bull runs, resulting in significantly higher TVLs. On the other hand, EOS EVM and NEON missed the boat and launched during bear runs. The question now is: Will they be able to grow, or is it too late for them?