General Updates
Neo launched Neo X MainNet, its new EVM-based sidechain, featuring Neo’s dBFT consensus mechanism and using GAS for governance and network fees. The release also 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, collectively known as Bane Labs. Future MainNet upgrades are already planned, including the enveloped transaction solution and dBFT modification required to support it, which will lay the groundwork for the Neo X anti-MEV mechanism.
Neo established the Elevate Program to incentivize teams to build on Neo X. Elevate is 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 by ensuring they have funds to develop, grow, and effectively scale operations. Elevate is also designed to 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. With the launch of Smith on Neo X, users can now leverage the module to deploy their own tokens on the network. To celebrate, FTW is hosting the Name Your Best Meme Coin on NeoX competition, offering a share in a 100 GAS prize pool to ten users that create and deploy memecoins to Neo X using Smith. Entrants will be judged by the level of activity they generate within the community, social media, and on-chain.
Neo announced that ZeroX Network will integrate support for the Neo X EVM sidechain. ZeroX plans to bring its Derivable Asset Utilities NFT concept to Neo X, allowing for NFTs to be represented differently across various dApps (i.e., it’s simultaneously a hero in one game and a ticket on an event platform) without any on-chain changes to the underlying token.
A new non-custodial exchange called Asteroneo was launched on Neo X, though limited features are currently available. Future functionality for swapping assets on the EVM sidechain is planned, as is the launch of the ASTR token. Limited information about the team behind the exchange is available at this stage.
GhostMarket deployed ten smart contracts on Neo X in preparation to support of the new EVM sidechain for its cross-chain NFT marketplace.
Neobox launched a Telegram app that rewards users with XCrystals points for performing tasks such as following Neobox social media accounts and inviting friends to the app. Users who accumulate the most XCrystals are ranked against one another on a leaderboard, and the top accumulators will share from a forthcoming rewards pool. Additionally, Neobox 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 challenges pertaining to mainstream NFT adoption.
Frank Coin hosted a livestream with the founder of Pixudi and Neobox to showcase the features and functionality of the Neobox Telegram app. Frank Coin also hosted a community quiz on the team’s official Telegram channel, where the top three participants each won 80 FLM, and ten random winners each won 50 FRANK tokens.
Flamingo’s FLM NEP-17 token is now listed on the StealthEX non-custodial token swapping platform. When swapping on StealthEX, users do not need to create an account or disclose personal information. Token swaps are performed between two wallets (on the sending and receiving blockchains) that belong to the user. StealthEX supports the trading of more than 1,500 digital assets.
Flamingo shared statistics on the FLUND single-sided staking token for week 29 of 2024, noting approximately $6.99 million in total value, $4.09 million in total minting rewards, and $761,000 in total trading fee rewards.
Developer Updates
NeoLine plans to integrate native support for bridging assets between Neo N3 and Neo X.
NNT Catch Up
NNT editors co-hosted Crypto Coffee and Blockchain Beer Spaces #27 on the official The Smart Economy Podcast X account. Topics of discussion included the MainNet launch of Neo X, garnering attention for NEO and GAS, getting market attention for new EVM networks, current and planned on-chain activities for Neo X users, and the positive side effects an ETH ETF might have on blockchain networks.
Events
July 30: Meme2Earn hosting Community Fireplace on its official Discord server.
July 30: Flamingo hosting Community Lagoon on its official Discord server.
Aug. 1: NNT editors hosting CC & BB #28 on The Smart Economy Podcast official X account.
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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