Neon EVM, a component of the Solana ecosystem, has started working on allowing platform users to pay transaction fees with assets other than the platform’s native token, NEON. This feature is currently available on the testnet and is expected to be implemented on the main platform of Neon EVM in the coming weeks. The support for mainnet is planned to be available in the first quarter of 2024.
Neon EVM’s Significant Progress
Neon is a smart contract layer based on Ethereum that operates on the Solana ecosystem. According to the team’s announcement, this feature will offer users who trade SOL, USDC, and USDT, among other Solana-based assets, the option to pay transaction fees with the desired asset instead of their NEON tokens. Neon DAO stated that they will evaluate which projects will be supported for this feature in the future.
With this step, users will be able to bridge from Ethereum to Solana without the need for NEON tokens, enabling them to use Neon EVM ecosystem dapps and services. Marina Guryeva, Director of Neon Foundation, commented:
“We are very excited to introduce this important development to Neon EVM. This advancement reinforces our commitment to providing unique flexibility to dapps and lower transaction costs and convenience to users.”
Interesting Facts About Neon EVM
Neon EVM’s multi-token fee payment service was designed to address the common problem of “empty wallet” that users may face when making transactions through crypto wallets without first filling them with a token from another wallet to cover transaction fees. Additionally, the update will allow dapps to cover fees, enabling application providers to offer free transactions as part of their service offerings.
Neon EVM was launched in July, providing users with the ability to create Ethereum-specific applications on Solana and offering more scalability opportunities through its high-speed blockchain network. This application of Neon works as a smart contract built on the Solana ecosystem, distributing the Ethereum Virtual Machine code.
