According to Odaily, Neo has officially launched the Neo X mainnet and introduced the $20 million 'Elevate Ecosystem Grant Program.' As a sidechain of Neo, Neo X utilizes the Delegated Byzantine Fault Tolerance (dBFT) consensus mechanism and is compatible with the Ethereum Virtual Machine (EVM) and development tools. It features resistance to malicious MEV and connects widely used EVM networks with Neo's unique ecosystem through a native cross-chain bridge.

The grant program includes a Grants section for early-stage innovative projects and core infrastructure development on the Neo X chain. Additionally, the investment section will provide up to $500,000 in comprehensive investment support for strategically advantageous mature projects. At the time of the mainnet launch, over twenty projects have already announced their participation in the Neo X ecosystem.

Following the mainnet launch, Neo X will initiate a three-month Engage Wave event, collaborating with ecosystem partners to host a series of online and offline activities. These activities aim to establish and deepen relationships with developers and communities across multiple countries and regions. The events will include the 'Ambassador Program,' Tokyo WebX, Korea Blockchain Week in Seoul, Token2049 in Singapore, and various hackathons.