Singapore — Neo X, Neo's innovative EVM-compatible sidechain, has today announced the integration of Intersect to the Neo X mainnet. This integration marks the first lending protocol on the platform since the launch of the mainnet in July of 2024, a significant milestone in the growth of Neo X’s offering. This pivotal development is poised to deliver sophisticated lending capabilities to Neo X users and further enhance the ecosystem.
Intersect enables users to lend and borrow various crypto assets, earning points and rewards. With its high APY lending protocol, Intersect not only increases the utility of assets within the Neo ecosystem but also boosts the overall liquidity of the network. This integration allows native assets on Neo N3 to benefit from Intersect’s offerings through Neo X's native bridge, enhancing the interconnectedness and value proposition of the Neo ecosystem.
Intersect's TestNet has been launched and is currently undergoing a testing phase with up to 1 million intersect points to be given out to testnet users. The platform aims to list all native Neo assets, positioning itself to compete effectively with other EVM-based DeFi protocols. The collaboration between Neo and Intersect aims to attract users and capital, further solidifying Neo X’s position as a leading DeFi hub.
“We warmly welcome Intersect to the Neo X ecosystem, which furthers the capabilities of our DeFi offering. Together, we hope to provide users with asset liquidity, efficiency, and minimized risk of MEV attacks and friction," said John Wang, Head of Neo Eco-Growth.
“We are thrilled to launch Intersect on Neo X, marking a significant milestone for both platforms. Neo X's innovative MEV-resistant infrastructure provides the ideal foundation for Intersect to introduce the first lending market to this ecosystem. Our collaboration will bring much-needed DeFi primitives to Neo X, enabling users to lend, borrow, and earn rewards with major crypto assets and native Neo tokens. We're excited to work alongside Neo in expanding the capabilities of their EVM chain and contributing to the growth of a robust, user-focused DeFi landscape on Neo X,” said Ho Chang Jun, Chief Strategy Officer at Intersect.
