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Neo Gas (GAS)

NEO Gas (GAS) is one of two native tokens for the , designated as the fuel token, used to power transactions and execute .[1][2]

Overview

Within the , GAS is intended to cover operational and storage costs for tokens and, aiming to deter node resource abuse. System fees undergo , while network fees are designed to serve as incentives for consensus nodes. The minimum GAS unit is 0.00000001, and claiming doesn't mandate staking. GAS distribution practices differ among exchanges. A significant portion is intended as a reward for voters actively engaging in network governance, requiring holders to use a voting-supporting wallet for participation.[3][4][5]

GAS Distribution to Users

Exchanges decide whether to distribute GAS, intending it as compensation to the for recording and additional services. GAS, symbolizing the right to use the , is systematically generated upon obtaining . In Neo N3, GAS is automatically claimed during transfer transactions at an address. The claimed GAS amount is determined by a fixed formula based on the duration between a user's transfers into and out of their address. For exchanges with consolidated addresses, the distribution process to a user is outlined, with precision improving in shorter snapshot intervals. Automatic GAS claiming occurs seamlessly as users transfer into or out of their addresses.[6]

Migration

N3, an upgraded version of , introduced improvements in development experience, features, and economic models. Certain features are not compatible with , leading to the N3 upgrade through a new , coexisting with for an extended period. Users can migrate and GAS tokens from to N3 at a 1:1 ratio using a N3-compatible wallet or supported exchange. Migration involves creating a new address on N3, sending tokens to a migration contract, and receiving equivalent tokens in the new address. Options include native migration support in wallets or using exchanges (with timeframes beyond control). A migration deadline will eventually exist, remaining open as long as the is operational. Fees apply on N3 for amounts below 10 or 20 GAS and on Neo Legacy for complex transactions. N3 does not adopt the .[7]

Allocation

Initially, 5 GAS tokens per block are generated and distributed to the Committee, voters, and all holders. The distribution follows these rules:

  • Holders (10%): GAS is calculated and distributed to holders based on their holding period after completing NEO transfers or voting.
  • Committee & Consensus Nodes (10%): This portion rewards the 21 committee members managing the . Every 21 blocks (Epoch), votes are recalculated, and shares are redistributed. The speaker also receives network fees for the current block's transactions.
  • Voters (80%): The majority of GAS incentivizes holders to vote for committee members. Rewards, calculated and distributed during each 21-block epoch, are divided by 28 (21 for committee members, 7 for consensus nodes). Voters for elected consensus nodes get 2/28, while voters for non-consensus committee members receive 1/28 of this portion.[8]
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Neo Gas (GAS)

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