Neo has announced the launch of the Neo X MainNet, its new EVM-based sidechain. The release also includes a native bridge between Neo N3 and Neo X, an explorer, and a governance portal.
Neo X was announced in Hong Kong in October 2023 as a new initiative to expand the Neo ecosystem. It features Neo’s own dBFT consensus mechanism and is fully compatible with the EVM. Neo X does not have its own token, but instead uses GAS for governance and network fees. GAS is generated on Neo N3 and must be connected to Neo X, creating a symbiotic relationship between the two networks.
The development of Neo X was a joint project between Neo Global Development, AxLabs and Neo SPCC, collectively known as Bane Labs.
Launching and managing the network
Neo X initially launched with seven StandBy validators running on the network to ensure stability in the early stages. These nodes are operated by NGD, AxLabs, Neo SPCC, and Lazynode. After a few weeks of stable operation, the network will move into governance mode, allowing users to register as validator candidates and seek election.
To become a validator, users must stake 20,000 GAS with a 5% fee when leaving the list of candidates. GAS token holders can vote for their preferred validator by staking GAS. Validators collect network fees as rewards, which can be divided with their voters in a distribution ratio set during registration. For example, a candidate may choose to share 70% of their rewards with voters, with funds being distributed proportionally based on the amount of GAS staked.
The Neo X governance portal can be found at xgovernance.neo.org.
Using Neo X
Wallets
Since Neo X is an EVM-based blockchain, users can use wallets like MetaMask to manage assets and interact with the network. Other wallets that plan to support Neo X include Echooo, Gate Wallet, Atomic Wallet, and Ellipal Hardware Wallet, as well as traditional wallets Neo, Neon, and NeoLine. Wallets that cannot be manually configured may not support Neo X immediately upon launch.
Bridge
Along with the launch of the Neo X Network, Neo also launched its own bridge, allowing users to move GAS tokens between the two networks. The bridge will also support additional NEP-17 and ERC-20 tokens, which must be added through a manual registration process and approved by the bridge’s governance members. As well as the network validators, the bridge will be managed by NGD, Neo SPCC, and AxLabs.
Initially, only GAS will be able to be transferred between N3 and Neo X, with a limit of 100,000 GAS for the first few weeks to ensure stability. This limit will be gradually lifted, and the service will expand to include NEO tokens and other assets once stability is confirmed.
To exchange assets, users will need both a Neo N3 wallet, such as Neon or NeoLine, and a Neo X-compatible wallet.
An application is available for developers to start merging tokens on the xbridge.neo.org website.
Development on Neo X
The Bane Labs team has made documentation available to Neo X developers. Regular users will find the network data needed to add the Neo X MainNet or TestNet to EVM wallets. Information is also provided on how to run a Neo X node and the differences between Neo X and standard Ethereum JSON-RPC API methods.
While EVM compatibility generally means that the world of Ethereum developer resources is available to developers on Neo X, some components are exclusive to Neo X. These include its own bridge, governance system, and the system contracts they depend on. Documentation for these services has been included by Bane Labs to help developers get started with their own integrations.
The official TestNet faucet is now available, allowing you to claim 0.2 GAS every 24 hours per address and IP. This limit can be increased to 1 GAS per 24 hours by connecting a Twitter/X account to the faucet. The faucet page also acts as an ecosystem research tool, connecting users to projects deployed on Neo X for testing.
The Neo X Blockchain Explorer is the Neo X MainNet equivalent of Etherscan. Here, users can view blocks, transactions, addresses, and more. Wallets like MetaMask can also be connected to the explorer, allowing write calls to be made directly against deployed smart contracts.
Various infrastructure projects have also launched tools for Neo X, with more to come in the coming months. The new Neo X homepage is a project explorer, with an infrastructure section cataloging products such as indexers, name services, interoperability solutions, and privacy protocols. Developers should check out the Neo page and social channels to learn about new tools as they become available.
Branding
The MainNet launch is accompanied by the unveiling of Neo X’s visual identity, which includes a new “X” logo and an expanded color palette. The logo signifies fusion and connection, while the new colors, including purple and magenta, symbolize the seamless integration of Neo and Ethereum. This rebranding is in line with Neo X’s goals of inclusivity and accessibility, marking a new chapter for the Neo ecosystem.
Move forward
Future MainNet upgrades are already planned, including a solution for converted transactions and the dBFT modification needed to support it. This feature, which lays the foundation for the Neo X anti-MEV mechanism, is not part of the initial MainNet release. A plan to deploy this feature to the network after thorough testing has been prepared to ensure a smooth upgrade when ready.
Neo intends to promote the adoption of Neo X through several key initiatives. The $20 million Neo X Elevate program will provide resources and support to developers and projects. The NeoPod Ambassador program will be revived to encourage leadership and innovation in the community.
Neo will also showcase Neo X at major blockchain events including WebX in Tokyo, Korean Blockchain Week in Seoul, and Token2049 in Singapore. In addition, various initiatives such as online and offline events, workshops, and hackathons will engage global developer communities.
More details will be announced in the coming months.
The full MainNet launch announcement can be found at the link below:
https://medium.com/neo-smart-economy/neo-x-mainnet-launches-f524ab7afeb6
