Neo has introduced the launch of the Neo X MainNet, its new EVM-based sidechain. The discharge additionally features a native bridge between Neo N3 and Neo X, an explorer, and a governance portal.
Neo X was introduced in Hong Kong in October 2023 as a brand new initiative to increase the Neo ecosystem. It options Neo’s personal dBFT consensus mechanism and is absolutely suitable with EVM. Neo X doesn’t have its personal native token, however as a substitute makes use of GAS for governance and community charges. GAS is generated on Neo N3 and have to be bridged to Neo X, making a symbiotic relationship between the 2 networks.
The event of Neo X was a joint effort between Neo International Improvement, AxLabs, and Neo SPCC, collectively often known as Bane Labs.
Community launch & governance
Neo X has initially launched with seven StandBy validators working the community to make sure stability in the course of the early phases. These nodes are run by NGD, AxLabs, Neo SPCC, and Lazynode. After a number of weeks of steady operation, the community will transition to governance mode, permitting customers to register as candidates for validators and search election.
To grow to be a validator, customers should stake 20,000 GAS with a 5% payment charged upon exiting the candidate listing. GAS token holders can vote for his or her most popular validator by staking GAS. Validators accumulate community charges as rewards, which will be shared with their voters at a distribution ratio set throughout registration. For instance, a candidate could resolve to share 70% of its rewards with voters, with funds distributed proportionally based mostly on the quantity of GAS staked.
The Neo X governance portal will be discovered at xgovernance.neo.org.
Utilizing Neo X
Wallets
As Neo X is an EVM-based blockchain, customers can use wallets resembling MetaMask to handle property and work together with the community. Different wallets planning to assist Neo X embody Echooo, Gate Pockets, Atomic Pockets, and Ellipal {Hardware} Pockets, together with conventional Neo wallets, Neon and NeoLine. Wallets that can not be configured manually could not assist Neo X instantly after launch.
Bridge
Alongside the launch of the Neo X Community, Neo has additionally launched the native bridge, permitting customers to maneuver GAS tokens between the 2 networks. The bridge may also assist extra NEP-17 and ERC-20 tokens, which must be added through a handbook registration course of and authorized by the bridge governance members. Just like the community validators, the bridge can be operated by NGD, Neo SPCC, and AxLabs.
Initially, solely GAS will be bridged between N3 and Neo X, with a cap of 100,000 GAS for the primary few weeks to make sure stability. This restrict can be steadily lifted, and the service will increase to incorporate NEO tokens and different property as soon as stability is confirmed.
Customers will want each a Neo N3 pockets resembling Neon or NeoLine and a Neo X suitable pockets to bridge property.
An app is obtainable for builders to begin bridging tokens at xbridge.neo.org.
Growing on Neo X
Neo X developer documentation has been made out there by the Bane Labs crew. Common customers will discover the community particulars required so as to add the Neo X MainNet or TestNet to EVM wallets. Data on methods to run a Neo X node and variations between Neo X and customary Ethereum JSON-RPC API strategies are additionally supplied.
Whereas EVM compatibility usually implies that the world of Ethereum developer sources is obtainable to builders on Neo X, some parts are unique to Neo X. These embody the native bridge, governance system, and the system contracts they rely upon. Documentation for these providers has been included by Bane Labs to assist builders rise up and working with their very own integrations.
An official TestNet faucet is now out there, permitting 0.2 GAS to be requested each 24 hours per handle and IP. This restrict could also be elevated to 1 GAS per 24 hours by connecting a Twitter/X social account with the tap. The tap web page doubles as an ecosystem exploration instrument, connecting customers with tasks deployed on Neo X for testing.
The Neo X blockchain explorer is an Etherscan-equivalent for the Neo X MainNet. Right here customers could browse blocks, transactions, addresses, and extra. Wallets resembling MetaMask may be linked to the explorer, permitting write invocations to be carried out straight towards deployed sensible contracts.
Numerous infrastructural tasks have additionally launched instruments for Neo X, with extra to return over the next months. The brand new Neo X homepage includes a venture explorer with an infrastructure part, cataloging merchandise resembling indexers, title providers, interoperability options, and privateness protocols. Builders ought to go to the web page and Neo social channels to study new instruments as they grow to be out there.
Branding
Accompanying the MainNet launch is the reveal of visible id for Neo X, that includes a brand new ‘X’ emblem and an expanded shade palette. The brand signifies fusion and connection, whereas the brand new colours, together with purple and magenta, symbolize the sleek integration of Neo and Ethereum. This rebranding aligns with Neo X’s objectives of inclusivity and accessibility, marking a brand new chapter for Neo’s ecosystem.
Transferring ahead
Future MainNet upgrades are already deliberate, together with the enveloped transaction resolution and dBFT modification required to assist it. This function, which lays the groundwork for the Neo X anti-MEV mechanism, just isn’t a part of the preliminary MainNet launch. A plan to roll out this function to the community after cautious testing has been ready to make sure a clean improve when prepared.
Neo intends to drive the adoption of Neo X by means of a number of key initiatives. The US $20 million Neo X Elevate Program will present sources and assist to builders and tasks. The NeoPod Ambassador Program can be revitalized to foster neighborhood management and innovation.
Neo may also showcase Neo X at main blockchain occasions, together with WebX in Tokyo, Korean Blockchain Week in Seoul, and Token2049 in Singapore. Moreover, numerous initiatives resembling on-line and offline occasions, workshops, and hackathons will interact international developer communities.
Additional particulars can be introduced within the coming months.
The total MainNet launch announcement will be discovered on the hyperlink under:
https://medium.com/neo-smart-economy/neo-x-mainnet-launches-f524ab7afeb6
