Neo welcomes ZeroX into the Neo X ecosystem
We are delighted to announce that ZeroX will be joining the Neo ecosystem through the integration of Neo X. ZeroX provides a utility layer on top of existing blockchain infrastructure, connecting blockchain assets with traditional applications to enable more utility across as many chains as possible.
ZeroX’s Innovative Protocol and Industry Recognition
ZeroX introduced the concept of Derivable Asset Utilities (DAUs) through the development of the ERC-7672 protocol. Simply put, ERC-7672 allows for dynamic status changes of an NFT in an application, without modifying the underlying asset. This means that an NFT can have distinct and different representations across various applications — A hero in one game, a pet in a social app, or a ticket in an event platform.
ZeroX has leveraged this concept to build a utility layer on top of existing blockchain infrastructure, bridging the gap between digital assets and traditional applications like games and beyond. Each application integrated with the ZeroX can empower an independent and tradable utility towards any supported asset, facilitating versatility and interoperability of traditional blockchain assets.
Additionally, trading of DAUs distributes royalties to the underlying blockchain assets, effectively making it a source of passive income.
ZeroX’s approach in increasing the utility of blockchain assets has won several awards, including the Top Winner🥇 in the ETH Singapore Hackathon 2023, and TOP 3🏆 in the BNB Chain Hackathon 2023.
Why Integrate with Neo X?
ZeroX has chosen to support Neo X for its scalable, secure, and developer-friendly blockchain infrastructure, which is ideal for building Web3 applications. The ultimate goal of ZeroX Network is to connect traditional users to Web3 assets like memecoins, NFTs, bitcoin runes, and beyond. Therefore, Neo X features such as its anti-MEV properties, enhanced security, and cross-chain functionality make it a great fit for the needs of traditional users. The on-chain status progression of digital assets through the ERC-7672 protocol can also be properly settled on Neo X due to these features.
Both Neo and ZeroX envision future synergies between the two teams, including technological alignment, strong community support, mutual focus on innovation, and a shared vision for mass adoption.
John Wang, Head of Neo Eco-Growth, warmly welcomes ZeroX, saying, “ZeroX takes a highly innovative approach to empowering blockchain assets and increasing liquidity. We look forward to seeing ZeroX thrive in the upcoming Neo X ecosystem and achieve mutual benefits with the projects within it. Our technological alignment, strong community support, mutual focus on innovation, and a shared vision for mass adoption will ensure a cohesive and impactful partnership.”
William Hong, Co-Founder and CEO of ZeroX, expressed excitement in joining a brand new ecosystem, saying, “We are thrilled to integrate with the Neo X chain, whose scalable and secure blockchain infrastructure perfectly aligns with our mission to connect traditional users to Web3 assets. Together, we are set to drive forward the mass adoption of Web3, underpinned by our shared commitment to technological advancement and community support.”
About Neo
Founded in 2014, Neo is an open-source, community-driven blockchain platform designed to welcome developers into the Smart Economy. By enabling developers to digitize and automate the management of assets through smart contracts, Neo is built to realize the optimized digital world of the future. As the most developer-friendly blockchain, Neo meets developers where they are by integrating seamlessly with the world’s most widely used languages and tools and providing the most feature-complete blockchain platform for building full-stack decentralized applications. With native support for powerful infrastructure including decentralized storage, oracles, and domain name service, Neo is the ideal foundation for developers to build the next generation Internet.
Neo X is Neo’s sidechain, currently in its Gamma Version TestNet. With its MEV resistance and full compatibility with Ethereum tooling, Neo X excels in cross-chain scalability and DeFi applications through its use of the dBFT consensus mechanism and enveloped transactions.
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About ZeroX
Apart from DeFi, blockchain assets (including memecoins, Bitcoin Ordinals and Runes, NFTs, etc.) have substantially been used as digital collectibles, striving for richer utilities — e.g. gaming. Developed based on our award-winning ERC-7672 protocol, ZeroX Network is introducing a novel concept, the Derivable Asset Utilities (DAUs), that facilitates a Utility Layer on top of the current blockchain assets infrastructure to bridge the considerable gap between the assets and traditional applications like games and beyond. Each application in the Utility Layer will empower an independent and tradable Utility towards any supported assets, facilitating versatility and interoperability of traditional blockchain assets. Trading of DAUs distributes Utility Royalties to the underlying blockchain assets, effectively turning the assets into “golden shovels/geese” for continuous passive income.
