Neo recently launched its Neo X MainNet, a new EVM-based sidechain featuring Neo’s dBFT consensus mechanism and using GAS for governance and network fees. The release includes a native bridge between Neo N3 and Neo X, an explorer, and a governance portal. The development of Neo X was a joint effort between Neo Global Development, AxLabs, and Neo SPCC, known as Bane Labs. Future upgrades are already planned, including an enveloped transaction solution and dBFT modification required to support it.
To incentivize teams to build on Neo X, Neo established the Elevate Program, a funding initiative with US $20 million available to builders seeking to launch new or existing projects on the EVM-compatible sidechain. The program aims to empower early-stage projects and support projects that have established themselves in other ecosystems, including mainstream dApps and core infrastructure. Forthewin Network deployed its Smith feature to Neo X, becoming the first dApp to launch on the new network, allowing users to deploy their own tokens.
ZeroX Network announced integration support for the Neo X EVM sidechain, bringing its Derivable Asset Utilities NFT concept to Neo X, allowing NFTs to be represented differently across various dApps without any on-chain changes to the underlying token. A new non-custodial exchange called Asteroneo was launched on Neo X, with future functionality for swapping assets on the EVM sidechain planned, along with the launch of the ASTR token. GhostMarket deployed ten smart contracts on Neo X in preparation to support the new EVM sidechain for its cross-chain NFT marketplace.
Neobox launched a Telegram app that rewards users with XCrystals points for performing tasks and announced that the NEOBOX NEP-17 token pre-sale will conclude on July 31. COZ CEO Tyler Adams was featured in a CoinTelegraph article about mainstream NFT adoption challenges, while Frank Coin hosted a livestream to showcase the features of the Neobox Telegram app. Flamingo’s FLM NEP-17 token is now listed on the StealthEX non-custodial token swapping platform, and the project shared statistics on the FLUND single-sided staking token.
Developer updates include NeoLine’s plans to integrate native support for bridging assets between Neo N3 and Neo X. NNT editors co-hosted Crypto Coffee and Blockchain Beer Spaces #27 to discuss topics such as the MainNet launch of Neo X, garnering attention for NEO and GAS, on-chain activities for Neo X users, and the potential impact of an ETH ETF on blockchain networks. Upcoming events include Meme2Earn hosting a Community Fireplace on its Discord server, and Flamingo hosting a Community Lagoon on its Discord server. NNT editors will also host CC & BB #28 on The Smart Economy Podcast official X account.
FLM token is now listed on the StealthEX exchange for trading. With these developments and initiatives, Neo X is establishing itself as a promising EVM-compatible sidechain within the Neo ecosystem, attracting projects and builders to leverage its features and capabilities. The Elevate Program provides funding opportunities for developers to launch projects on Neo X, while partnerships with ZeroX Network and other platforms further solidify the network’s position in the blockchain space. As more dApps and projects deploy on Neo X, the ecosystem is set to grow and thrive, offering innovative solutions to blockchain users and developers alike.
