NEOPIN Surpasses $180M in Consolidated TVL, Aiming to Become Asia’s Largest DeFi Protocol Within the

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6 Mar 2024

Key Takeaways

Consolidated TVL exceeds $180 million (approx. 240 billion Korean Won) due to successive hits of DeFi products and rising crypto assets

Klaytn-USDT(Stablecoin) pair deposit product TVL grew by over 14x in 5 days

RWA announces roadmap to become Asia’s largest DeFi organization by year-end, including DeFi derivatives

Decentralized finance platform NEOPIN today announced that it has reached a consolidated total value locked (TVL) of $180 million (approximately KRW 240 billion), driven by the continued success of its recently launched DeFi (decentralized finance) products and the rise of cryptocurrencies such as NEOPIN Token (NPT), Klaytn (KLAY), and Finschia (FNSA). TVL is the total amount of cryptocurrency deposits, and is a leading indicator of a project’s size and growth in the blockchain industry.

NEOPIN’s recent DeFi products have been a mega hit. The TVL of the Klaytn-Stablecoin (USDT) pair deposit product, launched on the 29th of last month, grew more than 14 times in just five days, attracting great attention from the Klaytn community. The KLAY and nFNSA (Finschia converted to Klaytn) pair deposit product, which was launched on the 15th of last month, also grew TVL more than 20 times in about two weeks, allowing users to take advantage of Finschia-based assets that were previously unavailable in the DeFi space. The rising price of the NEOPIN token (NPT), the main crypto asset in the NEOPIN ecosystem, is also driving consolidated TVL growth. According to global cryptocurrency data provider CoinMarketCap, the price of NPT is now more than 2.3 times higher than one month ago.

Roadmap to Achieve Asia’s Largest DeFi Protocol Vision Within One Year

NEOPIN recently announced its ‘2024 Roadmap’ with a vision to become Asia’s largest DeFi by the end of the year.

Since last year, NEOPIN has been working with the Abu Dhabi government of the United Arab Emirates (UAE) to establish a DeFi regulatory framework, reducing regulatory uncertainty and laying the groundwork, and now plans to launch innovative DeFi products such as real asset-based RWA(Real World Asset) within the year to become Asia’s leading Permissioned DeFi protocol. As an execution strategy to achieve this, the team will continue to launch new products by the end of the year aggressively. In addition, the company plans to launch RWA-based products, launch AI-based on-chain derivatives, launch Project Dragon (PDT) staking products and PDT migration support to become the “№1 PDT DeFi”, continue to reduce the circulating supply of NEOPIN tokens (NPT) by implementing an automatic reallocation mechanism (AutoRM), and support the integration of DEX Aggregator (decentralized exchange trading capabilities).

“NEOPIN is committed to becoming the №1 DeFi protocol in the Asian market this year, with the ambitious goal of reaching a top 10 position among global DeFi protocols within the next three years,” said Ethan Kim, CEO of NEOPIN. “To achieve our vision, we will focus on anticipating the RWA market, which is expected to grow strongly in the future, developing innovative DeFi products, and positioning Project Dragon (PDT) as the number one DeFi.”

About NEOPIN

NEOPIN is a decentralized finance platform based on DeFi (decentralized finance), which enhances trust and stability.

Since 2017, NEOPIN has been building blockchain expertise and technology by participating as a node validator operator for various global blockchains, including Ethereum, Tron, Cardano, Cosmos, Klaytn, and Finschia. Last year, it was selected as an innovative company by the Abu Dhabi Investment Office (ADIO) in the UAE for its regulatory compliance and expertise, becoming the first Korean blockchain company to receive direct and indirect investment, and is working with the Abu Dhabi Global Market (ADGM), a special financial zone in the UAE, to create the world’s first DeFi regulation through a public-private partnership. We have recently selected Real World Asset (RWA) tokenization and DeFi derivatives as future areas of ecosystem expansion, and are strengthening related technology research and DeFi product development. For more information, follow NEOPIN on Twitter.