Following the successful public sale and minting of NEON, this post answers 6 questions to explain how NEON owners can buy, transfer, or otherwise use а tokens.
1. What is NEON?
NEON is an SPL token whose contract resides on Solana (see solscan.io/token/NeonTjSjsuo3rexg9o6vHuMXw62f9V7zvmu8M8Zut44).
NEON is the utility token for the Neon EVM. Neon Proxy Operators accept Ethereum-like transactions and submit these to Neon EVM. Neon EVM translates the transaction request into Solana bytecode and submits the transaction to be executed on Solana. In V1 of Neon EVM, the Neon Proxy Operator charges the entity making the transaction request in NEON to cover the gas cost on Solana.
2. Who owns NEON?
At the time of writing, a restricted supply of NEON has been released, with the majority of the supply locked according to a vesting schedule (see our previous article detailing the NEON token allocation https://medium.com/@neon_evm/neon-tge-and-token-allocation-45a063183087). This means that as of today, there are over 10,700 NEON token holders.
3. Where can I buy NEON?
If you are not one of the lucky recipients of the public sale allocation, then you can anticipate that NEON will be released onto the open market.
4. How can I transfer NEON to Neon EVM?
As NEON is a Solana-native SPL token, it is necessary to provide it with an interface contract to migrate it into Neon EVM.
Users who wish to use NEON, for example, to pay gas fees in NEON, must transfer the NEON token to Neon EVM. To do so, follow these steps:
- Create/open a Solana-compatible wallet such as Phantom and withdraw NEON from your CEX (or CoinList) wallet into that.
Follow the instructions of the particular CEX (or CoinList), on how to withdraw tokens. - a) Create/Open an EVM-compatible wallet such as Metamask. b) Install the wallet extension in your browser and set up the new/existing wallet.
- Once the funds are on the Solana-compatible wallet, use the transfer interface NeonPass.
You can find detailed information here. Note that you may cover the transaction cost in NEON or SOL tokens. - After the transfer is complete, you will receive the funds on the Neon EVM network, i.e. in your EVM-compatible wallet. This process usually takes less than one minute.
You are now ready to use your NEON on Neon EVM.
5. How do I transfer Solana SPL tokens to Neon EVM?
Notice that in the previous flow, NeonPass provided an interface to transfer an SPL token to an EVM-compatible wallet. The same transfer mechanism may be used for other supported SPL tokens. At the time of writing, this includes USDC or SOL. Please be aware: you need NEON tokens to make transactions in the Neon EVM network, e.g. to transfer assets out of Neon EVM.
Once the transfer is complete, you can use your funds in the dApps, which at the launch of Neon EVM, includes MoraSwap and Sobal.
6. What if my funds are not on Solana?
If you have funds on other blockchain networks and want to transfer them to Neon EVM, follow these steps:
- Create or open a Solana-compatible wallet such as Phantom.
- Use a Portal bridge to transfer funds from the source chain to Solana.
- Swap the received assets to Neon EVM-supported SPL tokens such as SOL or USDC on the Solana network.
- Follow Steps 1–4 above to use NeonPass
Once the transfer is complete, you will have the funds available on the Neon EVM network, and you can start using your funds in the dApps.
Ditto the preceding warning: you need NEON tokens to make transactions in the Neon EVM network, e.g. to transfer assets out of Neon EVM.
About Neon EVM
Neon EVM is an Ethereum Virtual Machine operating as a smart contract on Solana. It gives developers the power to directly deploy Ethereum dApps with minimal reconfiguration to the code, while benefiting from Solana’s technical advantages. It is built with security, decentralization, and sustainability as core tenants.
Links and resources:
For more information about Neon EVM and future updates, visit NeonEVM.org and connect with the community on Twitter or Discord. Furthermore:
- To choose a public RPC endpoint, see ChainList
- For a high-level overview of the technical architecture and features of Neon EVM, the whitepaper is available at NeonEVM.org/whitepaper.pdf
- View Neon EVM transactions settled to Solana with the NeonScan or BlockScout explorers
- IRL: Epic Layer 2 Day, an event for researchers, developers, and enthusiasts dedicated to Ethereum L2 Scaling, see lu.ma/l2paris
