Alternative Gas Payments on Neon

Proposal Discussions
1

We are excited to propose adding alternative gas functionalities on Neon Mainnet in Q1.

This feature means that users can pay gas fees with supported tokens such as USDT, USDC, SOL and NEON.

By enabling Proxy Operators to accept transaction fees in stablecoins and other tokens, we aim to make joining the ecosystem a more attractive option for both dApp developers and users.

This feature is live on Testnet and set to go live on Mainnet in Q1 2024.

Read more details in this blog post: https://neonevm.org/blog/feature-alternative-gas-fee-token

Do you support this update? How could this impact the utility of the NEON token? Will this attract more builders to the ecosystem and provide a better UX for users? What other tokens would you like to see supported?

Please use this forum to openly discuss this topic.

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Cool this is better for users and builders, I am in favour!

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I think this will be a great addition to make the UX more seamless and prevent scenarios where new users that bridge over become stuck by not having any gas tokens to pay for initial transactions.

I assume 50% of fees will still accrue to the NEON DAO? (It would be great if we could also get the address for this wallet to track for future reference)

The gas fees paid in various tokens such as USDT, USDC and SOL could then be used to periodically buy and burn NEON from the market to compensate for the reduced utility through the use of alternative tokens for fees. This will be a win-win, enabling a better UX and more adoption whilst also increasing the utility for NEON, due to more users = more fees and those fees being used to buy and burn NEON making the supply deflationary.

Alternative gas payments could also be used as an additional incentive for larger / more established / larger market cap projects to launch on NEON, where their token (assuming it’s cross-chain) could be used for gas fees on NEON, providing the DAPPs not only parallel EVM execution, cheap fees and access to the Solana ecosystem, but also adding further utility to their token.

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4

woah. Looks crazy
This is very exciting

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Yes, this is going to be a cool new fuel to the growth

6

Yes for sure, it will be the same, and we will share that address for the community.

Good idea, also. Let’s discuss it in separate proposal, when Multigas payment will be released

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Hey Arkady! How’s it going? Great to see you here and active in this discussion :blush:

Out of curiosity, how does the DAO fee taking mechanism work? I’m yet to notice anything on chain regarding this activity, is the fee sharing currently bundled as part of the Solana execution? Or is there a balance that can be withdrawn from the Solana program by an authority?

Thought it would be interesting to understand a bit more and if the fee taking function is currently live on Mainnet :slight_smile:

1 Like