Gas (GAS) is a utility token on the NEO blockchain designed to fuel transactions and operations within the network. It functions as part of NEO's dual-token model, working alongside the NEO token. While NEO represents ownership and allows holders to participate in network governance, Gas is used to pay for transaction fees, smart contract deployments, and decentralized application (dApp) interactions. This separation of governance and utility aims to streamline the blockchain's operations, providing clear, distinct roles for each token within the NEO ecosystem.

Gas functions as the utility token within the NEO blockchain, facilitating transaction fees and smart contract executions. When users make transactions or deploy smart contracts, Gas is used to cover the costs associated with these operations. Unlike traditional staking models, Gas is passively distributed to NEO token holders, rewarding them for their participation in the network. Holders who actively engage in governance, such as voting, may receive increased distributions. This system incentivizes both network activity and governance participation, ensuring the NEO blockchain remains efficient and user-driven.

Gas has several use cases within the NEO ecosystem. Its primary function is to cover transaction fees on the network, enabling smooth processing of transfers and operations. Gas is also essential for deploying smart contracts, a critical feature that automates tasks and digital asset management on the blockchain. Additionally, it can be used within dApps for purchases and interactions, serving as a medium of exchange within the NEO ecosystem. The dual-token model also allows Gas to be passively distributed to NEO holders, promoting continuous engagement and incentivizing governance participation.

Gas was introduced as part of the NEO blockchain, initially known as Antshares, founded by Da Hongfei and Erik Zhang. The NEO network evolved significantly in 2021 with the launch of NEO N3, an upgraded version of the blockchain. This upgrade introduced features like distributed storage, oracles, and name services, enhancing the platform's functionality. Throughout its development, Gas has played a key role in supporting transactions and operations, contributing to the growth of the NEO ecosystem as its primary utility token.

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The current market cap of Gas is $130.389M. A high market cap implies that the asset is highly valued by the market.

The all-time high of Gas is $97.49. This all-time high is highest price paid for Gas since it was launched.

Over the last 24 hours, the trading volume of Gas is $6.796M.

Assets that have a similar market cap to Gas include Kusama, yearn.finance, Akash Network, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of Gas is 65 million.