Neon EVM’s Mainnet Launch: Community Update

On November 7th, we announced that the mainnet of Neon EVM will be launched by Neon Foundation today, Dec, 12, 2022. This is the culmination of significant development efforts, so we are very happy to share that the technical readiness of the platform is 100% complete. Specifically:

• Neon EVM’s production environment can now perform at full functionality with all the necessary infrastructure and capabilities required to support live dApps.
• Compatibility testing was completed for forks of Compound, Uniswap v2, AAVE, Curve, Sobal, and for Robonomics’ liability contract, and several other applications. All use cases explored were successful, and the underlying smart contracts performed correctly and efficiently. This was possible thanks to our testing partners, including MixBytes, Robonomics Network, and Zpoken.
• Neon EVM achieved a high throughput potential of over 2,000 transactions per second (TPS) following a series of synthetic tests.
• Transfer costs available with Neon EVM are 0.000015 SOL/tx which translates to 0.02 cents on the current market, and a simple Uniswap v2-style swap cost of 0.0002 SOL/ tx. It makes the Neon EVM one of the most affordable EVM systems.
• Security audits have been completed by Halborn, Ackee Blockchain, and Neodyme.

That said, Neon EVM will not be fully operational today and we wanted to share the reasons why.

Neon EVM’s underlying code and mechanics are ready from a technical perspective, but it is Neon Foundation that will support the mainnet launch. Neon Foundation is a non-profit entity that was established to enable Neon EVM’s ecosystem development and decentralization going forward.

However, due to recent challenging market conditions, a lot of business processes that involve third-parties were slowed down. And though we were not directly affected by the FTX crash, the foundation is still finalizing the documentation between the involved parties, which has led to a delay in the release of the platform.

While Neon Foundation finalizes the documentation, including the completion of arrangements with Neon Labs, the community can expect several new initiatives and updates including:

• The launch of the Neon Foundation’s Early Builders Program this month with the goal of onboarding pioneering projects to Neon EVM. The idea is to go live on mainnet with several dozen dApps. The details will be released soon by Neon Foundation.
• The start of work on interoperability between Neon EVM dApps and Solana dApps by Neon Labs. We are glad to announce that we are moving along with the technical roadmap that we will present to our community in January.

We want to take a moment to celebrate overcoming some of the most challenging technological hurdles in blockchain over the past few months. It is a testament to the hard work and continuous support of the team, ecosystem projects, and the community. At the same time, we recognize that we must make some difficult decisions to properly fulfill our vision of uniting the best of two worlds: Solana and Ethereum. We appreciate your unwavering support.