In February, Neo continued to build its EVM-compatible sidechain, Neo X. Neo founder, Da Hongfei, shared details within the Neo community and media outlets outlining how Neo X plans to eliminate toxic MEV by combining the dBFT consensus mechanism with enveloped transaction technique. Other activities and updates included the NFT Fortune Envelope campaign, meme campaigns, projects enlisted in the Web3.0 Global Acceleration Program, a new consortium chain, and more.
Neo Global Monthly Report - General
February 2024
Neo Global Monthly Report - General
Introduction
GENERAL UPDATES
GENERAL UPDATES
Neo X, An-shun Chain, & more
Founder Da Hongfei Sharing Neo X’s MEV-Resistance Solution
Neo’s sidechain, Neo X, is innovative for its capability to eliminate toxic MEV during the blockchain transaction process. Da Hongfei shared his vision and meticulous design behind Neo X in a Medium article, describing how the dBFT consensus mechanism and enveloped transactions are key elements of Neo X’s anti-toxic MEV methods.
We also broke down the article into key messages and posted them in a thread for TL;DR purposes.
Neo Founder @dahongfei wrote this comprehensive article that unpacks the intricate technical and governance aspects of Neo’s MEV-resistant sidechain, Neo X. https://t.co/RNbButcRGU
TLDR : Read the below thread for key points. ⏬
1/🧵— Neo Smart Economy (@Neo_Blockchain) February 28, 2024
The insights were picked up by several media outlets, producing third-person opinions based on Da’s thoughts. Some notable ones are listed below:
Bitcoin.com: https://t.co/g4mUqLjhfh
Cointelegraph: https://t.co/GdYfL79qeV
Meme Contest Around the Topic of MEV-Resistance
To build an awareness around the need for MEV-resistant features in blockchain, Neo co-hosted a meme contest with Meme2Earn from Feb. 28 to Mar. 6. The campaign offered a US $500 equivalent prize, with hundreds of participants sharing their memes on Meme2Earn and social media, illustrating the community’s understanding and confidence in Neo X’s capacity to introduce fairness to the blockchain realm.
Web3 memers,
Get ready to unleash your creativity in the "Neo X Vs. Toxic MEV" #Meme contest co-hosted with @meme2earn_com! 🚀Create memes showcasing Neo X's MEV resistance mechanism for a chance to win a share of $500!
Check out the details: https://t.co/G9Bj3z9cYh
— Neo Smart Economy (@Neo_Blockchain) February 28, 2024
Launching An-shun Chain to Serve Chinese Enterprise Market
In February, An-shun Chain, an Ethereum-compatible consortium chain powered by Neo, was launched on the BSN-DDC Network. Compatible with various Ethereum development tools, An-shun chain is tailored to meet the domestic application needs of Chinese enterprises, providing them with increased performance, security, and the opportunity to develop applications and deploy smart contracts on-chain.
🎉We are excited to announce that An-shun Chain, based on @Neo_Blockchain , is available for use on the BSN-DDC Network!
🚀An-shun Chain provides faster block generation, lower gas costs, and significantly improved transaction performance.
Learn more⬇️https://t.co/eIb50ix0Ga
— Blockchain-based Service Network (BSN) (@bsnbase) February 19, 2024
Unveiling the Projects Joining the “Web3.0 Global Acceleration Program”
Last October, Neo and Web3Labs jointly initiated the “Web3.0 Global Acceleration Program” at the finale of the Neo APAC Hackathon. This program aims to serve Web3 startups in the Pan-Asian region. After months of review and selection, eight projects spanning multiple domains, including the DeFi market, artificial intelligence, games, and more, have been shortlisted to join the program. Each of these projects will receive a starting fund of $20,000, with potential follow-up investments of up to $100,000, alongside comprehensive support to foster their growth. Details of these projects and the support plan of the program can be found here.
Lunar New Year Fortune Envelope NFT Campaign
Neo and MegaOasis, a digital art NFT marketplace on the Neo blockchain, initiated a Fortune Envelope NFT campaign to celebrate the Lunar New Year on Feb. 10. Participants could claim NFTs and send them to family and friends as good wishes. A total of $400 in GAS was distributed among 40 participants who fulfilled all the requirements.
🧧 Let's celebrate the #LunarNewYear with our Neo Fortune Envelope #NFT campaign, supported by @MegaOasis_nft! 🐉
Participants go into the draw to win a share of $500 in $GAS. Details are in the thread below! 👇https://t.co/Olp7Trxtuu
— Neo Smart Economy (@Neo_Blockchain) February 6, 2024
ECOSYSTEM NEWS
ECOSYSTEM NEWS
Neo N3
Mural Hunting Goes Phigital at ETHDenver
ITEM Systems, a collaboration between AxLabs and COZ, designed an NFI experience for ETHDenver leveraging the Denver Walls murals. The event, which lasted from Feb. 23 to Mar. 3, allowed participants to use their phones to scan the NFI chips installed next to the murals and redeem free beers at a local brewery. This activation allowed participants to experience bridging the physical and digital worlds and introduced the Non-Fungible Item technology. Following the event, the walls can still be scanned to redeem a BOGO offer.
We're thrilled to continue driving web3 that you can touch through public art to engage local communities! https://t.co/vnnXyZak06
— ITEM Systems (@item_systems) February 21, 2024
Ecosystem Project Updates
Neo News Today compiles weekly reports on the progress of various projects within the Neo ecosystem. The reports cover a wide range of topics including but not limited to product updates, NFT/token releases, airdrops, and other market or community activities. Please see below for the updates on projects within the Neo ecosystem for the month of February.
January 29 — February 4 : Neo, Pixudi, Mega Oasis, Flamingo Finance, Neo News Today, COZ.
February 5 — February 11: Neo, Pixudi, Flamingo Finance, O3 Labs, GrantShares, AxLabs, Neo News Today, COZ.
February 12 — February 18: Smart Economy Podcast, GhostMarket, Pixudi, World of Elements, GrantShares, NeoLine, Meme2Earn, Flamingo Finance, Neo SPCC, Neo News Today.
February 19 — February 25: Neo, Neo News Today, GhostMarket, Carrot Swap, Pixudi, Flamingo Finance, ITEM Systems.
February 26 — March 3: Neo, Neo X, Smart Economy Podcast, COZ, Pixudi, Flamingo Finance, Neo SPCC, Neo News Today.
In the coming months, we will focus on building Neo X and laying the groundwork for this new corner of our ecosystem. Neo is engaging in multiple upcoming events and conferences to secure as many new partners for Neo X as possible and to broaden communication within the Web3 sphere. Follow us on X and meet us on-site. We look forward to collaborating in all forms!
The above report was originally published by Neo at the link below: