According to official news, Neo announced that the Neo X mainnet was officially launched, and simultaneously launched the "Elevate Ecosystem Funding Program" with a total amount of US$20 million. As a sidechain of Neo, Neo X uses Neo's delegated Byzantine Fault Tolerance (dBFT) consensus mechanism, is compatible with Ethereum Virtual Machine (EVM) and development tools, has the characteristics of resisting malicious MEV, and relies on the native cross-chain bridge to bridge the widely used EVM network with Neo's unique ecosystem.
The funding project includes the Grants part, which is suitable for early innovative projects and core infrastructure developed on the Neo X chain; the investment part will provide a package of investment support of up to US$500,000 for mature projects with strategic advantages. At the time of the mainnet launch, more than 20 projects have announced to join the Neo X ecosystem. After the mainnet is launched, Neo X will launch a three-month Engage Wave event, jointly organize a series of online and offline activities with ecological partners, and establish and deepen relationships with developers and communities in multiple countries and regions, including the "Ambassador Program", Tokyo WebX, Seoul Korea Blockchain Week, Singapore Token2049 and hackathons.