WHAT IS GAS?
The Gas (GAS) crypto coin is the companion token to Neo (NEO), the cryptocurrency for the Neo blockchain, which is often referred to as the "Ethereum of China." Here’s an overview:
Key Details about Gas (GAS):
1. Purpose:
- GAS is used to pay for transaction fees, smart contract execution, and other operations on the Neo blockchain.
- It acts as the "fuel" for running the blockchain, similar to Ethereum's "gas."
2. Generation:
- GAS is generated passively by holding NEO tokens in a wallet. The more NEO you hold, the more GAS you earn over time.
- This reward mechanism incentivizes NEO holders to stake their tokens.
3. Fixed Supply:
- The total supply of GAS is capped at 100 million tokens.
- GAS is distributed gradually over time through a decay model, ensuring the supply lasts for many years.
4. Use Cases:
- Pay fees for deploying and running smart contracts on Neo.
- Facilitate decentralized finance (DeFi) applications on the Neo platform.
- Serve as a governance token for Neo-based projects.
5. Market Performance:
- GAS is listed on major cryptocurrency exchanges like Binance, KuCoin, and Gate.io.
- Its price fluctuates based on demand, Neo ecosystem adoption, and broader market conditions.
If you're considering buying or holding GAS, it's crucial to research the Neo ecosystem, track its developments, and evaluate the potential growth of applications on the blockchain.
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