What is Gas (GAS )? Project overview & potential of GAS Token

In the NEO ecosystem – one of the oldest and most prominent blockchains in China, GAS is an indispensable token that helps operate the entire network.

Join Allinstation to learn more about Gas, the two-token model of NEO, and investment opportunities around the GAS token.

What is Gas?

GAS is the "fuel" token in the NEO ecosystem, used to pay transaction fees, deploy smart contracts, and other on-chain services on the NEO blockchain. In NEO's two-token model, NEO represents network governance rights, while GAS handles operation and usage.

Users holding NEO in a non-custodial wallet can receive GAS as a reward, similar to a staking mechanism, without needing to lock tokens. This helps encourage long-term NEO holding and contributes to network security.

Relationship between GAS and NEO

NEO and GAS operate in parallel in the NEO ecosystem, following a two-token model that is separate but complementary:

• NEO is a token representing network ownership and governance. Users holding NEO can participate in validator voting, protocol governance, and make important decisions in the NEO network.
• GAS is a token used to pay operating fees such as transaction fees, smart contract deployment fees, and network resource usage. GAS is the "fuel" that helps the entire NEO network function.

Notably, when users hold NEO in a non-custodial wallet, they automatically receive GAS over time as a staking reward. This creates a close link between the two tokens: NEO to receive GAS, GAS to use the network.

In summary, NEO is rights, GAS is the tool. One represents governance, the other represents operation, together creating an effective decentralized and utility model in the NEO ecosystem.

Prominent Features of GAS and NEO

• dBFT Consensus Mechanism (Delegated Byzantine Fault Tolerance): A PoS variant that helps NEO achieve high processing speed, good security, and low energy consumption.
• Multi-chain Interoperability: NEO supports integration with other blockchains through Neo N3 and NeoX – an internal cross-chain bridge of the ecosystem.
• Support for Multiple Programming Languages: Developers can program smart contracts using C#, Java, Go, Python,… without learning a new language like Solidity.
• Two-token Model (NEO & GAS): Users can hold NEO to receive GAS and use GAS to interact with the system, without "burning" NEO like single-token blockchains.

Overview of GAS Token and Tokenomics

Token Data

• Token Name: NeoGas (GAS)
• Ticker: GAS
• Blockchain: NEO
• Token Standard: NEP-17 (NEO token standard)
• Contract: 602c79718b16e442de58778e148d0b1084e3b2dffd5de6b7b16cee7969282de7
• Total Supply: 100,000,000 GAS
• Circulating Supply: 65,000,000 GAS

Token Distribution

NEO tokens are distributed as follows:

• Early Supporters: 50%.
• Project Fund: 15%.
• Reserve Fund: 15%.
• Neo Council Developers & Members: 10%.
• Ecosystem Developers: 10%.

Token Utility

• Paying transaction fees on NEO: GAS is used to pay for token transfers, contract registration, NFT creation, etc.
• Participating in smart contract deployment: dApps use GAS as an operating cost on the network.
• Rewards for NEO holders: A staking-like mechanism that makes GAS a passive income for holders.
• Trading on exchanges: GAS is listed as a tradable asset and independently valued by the market.

How to Earn and Store GAS Token

Storage

Wallet Types

• Hot Wallets: NeoLine, Neon Wallet, O3 Wallet, Coin98
• Cold Storage: Ledger Nano S/X (via NeoLine integration)
• Custodial Exchanges: Binance, OKX, BingX, Bitget, Bybit

Exchanges

GAS can currently be purchased on exchanges like Binance, BingX, OKX,… or directly swapped on DEX platforms.

Refer to exchanges partnered with HC Capital:

• BingX: hulkcrypto.com/go/bingX (code ref: AZRMZC)
• OKX: http://Hulkcrypto.com/go/okx (code ref: 15835910)
• Bybit: hulkcrypto.com/go/bybit (code ref: 32672)
• Bitget: http://hulkcrypto.com/go/bitget (code ref: ezdy)
• Binance: hulkcrypto.com/go/binance (code ref: 139872038)

How to Earn Gas Token

• Hold NEO in non-custodial wallets like Neon Wallet, NeoLine, O3 Wallet... to automatically receive GAS.
• Buy GAS on exchanges: Binance, OKX, BingX, Bybit, Bitget...
• Participate in dApps within the Neo ecosystem (voting, staking, testnet,...).

Neo Roadmap 2025

Q1 2025

• Release Neo-CLI v3.8.0: This update proposes adjusting block creation time and GAS release rate to optimize network performance.
• Integrate MEV protection feature on TestNet: Aimed at protecting users from maximum extractable value (MEV) behaviors.

Q2 2025

• Enhance GAS rewards for governance participants: Encourage users to participate in voting and network management by increasing GAS rewards.
• Host community AMA with COZ: The COZ development team will organize a Q&A session to share about organizational structure and development plans for 2025.

Q3 2025

Focus on DeFi product development: Flamingo Finance will deploy OrderBook+ 2.0 and prepare to launch FLOCKS token, aiming to enhance decentralized trading experience on NEO.

Q4 2025

Officially cease Neo Legacy operations: Users and developers are advised to complete asset and smart contract migration to Neo N3 before this time to avoid data loss.

NEO & GAS Development Team

GAS is developed by NEO's experienced expert team, with NEO founded and led by prominent blockchain experts from China:

• Da Hongfei: NEO Founder and CEO of Onchain.
• Zhang Zhengwen: Co-founder and lead programmer of NEO.
• Erik Zhang: Key member of the development team.
• Tony Tao: Blockchain field expert.
• Li Jianying: Community development and project management team member.

NeoGas Investors and Partners

Investors: NEO Foundation previously received investments from Fenbushi Capital and early-stage Chinese VC funds.

Partners: Strategic partners in the ecosystem include Flamingo Finance, Poly Network, Binance, Red Pulse, Certik...

Insights on NeoGas

GAS is a token with clear, transparent, and non-inflationary real-world applications. With Neo transitioning to the more modern N3 version, GAS's application potential in smart economy is increasing, from NFT registration and DAO voting to transaction fees.

However, GAS's development and value still largely depend on NEO ecosystem growth. If NEO attracts more dApps, on-chain assets, and community, GAS will continue to be widely used, thereby driving natural demand and market value.

Summary

NeoGas (GAS) plays a crucial role in operating the NEO ecosystem, helping the network run smoothly through transaction fee payments and smart contract deployment. With its unique two-token model, separating governance rights (NEO) and usage rights (GAS), NEO has created a flexible and sustainable blockchain platform.

Holding NEO to receive GAS not only motivates long-term investors but also maintains network decentralization and stability. As NEO gradually upgrades its platform, expands interoperability, and heavily invests in DeFi, GAS is expected to have increasingly practical applications and play a crucial role in the Web3 ecosystem in Asia and globally.

If NEO continues to maintain its development pace, expand its community, and attract more dApps, GAS can certainly become a stable and valuable utility token in the long term. This is a project worth watching, especially for those who believe in the potential of Asian-based blockchain platforms.

Allinstation has answered the question about NeoGas and provided information about the project's token. Please explore and evaluate to make the most informed investment decisions. Good luck!