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 develop 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 should be bridged to Neo X, making a symbiotic relationship between the 2 networks.
The event of Neo X was a joint effort between Neo World 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 levels. These nodes are run by NGD, AxLabs, Neo SPCC, and Lazynode. After a number of weeks of secure operation, the community will transition to governance mode, permitting customers to register as candidates for validators and search election.
To develop into a validator, customers should stake 20,000 GAS with a 5% price charged upon exiting the candidate checklist. GAS token holders can vote for his or her most popular validator by staking GAS. Validators acquire community charges as rewards, which could be shared with their voters at a distribution ratio set throughout registration. For instance, a candidate could determine to share 70% of its rewards with voters, with funds distributed proportionally primarily based on the quantity of GAS staked.
The Neo X governance portal could be discovered at xgovernance.neo.org.
Utilizing Neo X
Wallets
As Neo X is an EVM-based blockchain, customers can use wallets comparable to MetaMask to handle belongings and work together with the community. Different wallets planning to help 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 help 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 can even help extra NEP-17 and ERC-20 tokens, which must be added through a guide registration course of and authorized by the bridge governance members. Just like the community validators, the bridge might be operated by NGD, Neo SPCC, and AxLabs.
Initially, solely GAS could 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 might be progressively lifted, and the service will develop to incorporate NEO tokens and different belongings as soon as stability is confirmed.
Customers will want each a Neo N3 pockets comparable to Neon or NeoLine and a Neo X suitable pockets to bridge belongings.
An app is on the market for builders to begin bridging tokens at xbridge.neo.org.
Creating on Neo X
Neo X developer documentation has been made accessible 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. Info on find out how to run a Neo X node and variations between Neo X and normal Ethereum JSON-RPC API strategies are additionally offered.
Whereas EVM compatibility usually implies that the world of Ethereum developer assets is on the market to builders on Neo X, some elements are unique to Neo X. These embody the native bridge, governance system, and the system contracts they rely on. 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 accessible, 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 device, connecting customers with initiatives 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 comparable to MetaMask may additionally be related to the explorer, permitting write invocations to be carried out immediately towards deployed sensible contracts.
Numerous infrastructural initiatives have additionally launched instruments for Neo X, with extra to come back over the next months. The brand new Neo X homepage includes a undertaking explorer with an infrastructure part, cataloging merchandise comparable to indexers, identify providers, interoperability options, and privateness protocols. Builders ought to go to the web page and Neo social channels to find out about new instruments as they develop into accessible.
Branding
Accompanying the MainNet launch is the reveal of visible id for Neo X, that includes a brand new ‘X’ brand and an expanded coloration palette. The emblem signifies fusion and connection, whereas the brand new colours, together with purple and magenta, symbolize the graceful 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 help it. This characteristic, which lays the groundwork for the Neo X anti-MEV mechanism, is just not a part of the preliminary MainNet launch. A plan to roll out this characteristic 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 assets and help to builders and initiatives. The NeoPod Ambassador Program might be revitalized to foster neighborhood management and innovation.
Neo can even showcase Neo X at main blockchain occasions, together with WebX in Tokyo, Korean Blockchain Week in Seoul, and Token2049 in Singapore. Moreover, numerous initiatives comparable to on-line and offline occasions, workshops, and hackathons will have interaction international developer communities.
Additional particulars might be introduced within the coming months.
The total MainNet launch announcement could be discovered on the hyperlink beneath:
https://medium.com/neo-smart-economy/neo-x-mainnet-launches-f524ab7afeb6