Launch Hop on NEO X (NEO EVM) Mainnet
Point of Contact: Tony Sun
Proposal summary
We propose to Hop community to deploy Hop Bridge protocol to the NEO Ethereum Virtual Machine rollup known as “NEO X” on behalf of the community.
We believe this is the right moment for Hop to deploy on NEO X, for several major reasons:
· NEO X is a new zk-rollup that provides Ethereum Virtual Machine (EVM) equivalence (opcode-level compatibility) for a transparent user experience and existing NEO ecosystem and tooling compatibility. Additionally, speed of fraud proofs allows for near instant native bridging of funds bridge (rather than waiting seven days).
· An Ethereum L2 scalability solution utilizing cryptographic zero-knowledge technology to provide validation and fast finality of off-chain transaction computations.
· A new set of tools and technologies were created and engineered and are contained in this organization, to address the required recreation of all EVM opcodes for transparent deployment and transactions with existing Ethereum smart contracts.
· NEO X is aligned with NEO and its values.
· Hop is already deployed on POS with good success
· Hop gaining market-share through early mover advantage
NEO X main net will launch in May to June. Our aim is to have Hop as one of our early stage bridge partners, as we view Hop as a highly crucial product for users to bridge their assets across various chains.
About NEO X
Neo was founded 2014 and has grown into a first-class smart contract platform. NEO is one of most feature-complete L1 blockchain platforms for building decentralized applications.
Neo X is an EVM-compatible sidechain incorporating Neo’s distinctive dBFT consensus mechanism. Serving as a bridge between Neo N3 and the widely adopted EVM network, we expect Neo X to significantly expand the Neo ecosystem and provide developers with broader pathways for innovation.
In this pre-alpha version of the TestNet, we have aligned the Engine and dBFT interfaces. The main features are as follows:
dBFT consensus engine support has been added to Ethereum nodes. Geth Ethereum node implementation is taken as a basis.
A set of pre-configured stand by validators act as dBFT consensus nodes. All the advantages, features and mechanics of dBFT consensus are precisely preserved.
Ethereum P2P protocol is extended with dBFT-specific consensus messages.
Invasive existing Ethereum block structure modifications are avoided as much as possible to stay compatible with existing Ethereum ecosystem tools. MixHash block field is reused to store NextConsensus information and Nonce field is reused to store dBFT Primary index.
Multisignature scheme used in Neo N3 is adopted to the existing Ethereum block structure, so that it’s possible for Neo X consensus nodes to add M out of N signature to the block and properly verify signature correctness. Extra block field is reused for this purpose.
Secp256k1 signatures are used for block signing.
The multi-node dBFT consensus mechanism, enveloped transactions, and a seamless native bridge connecting Neo X with Neo N3 will be introduced in subsequent versions.
*Please be aware that this pre-alpha version of NeoX is in the active development phase, meaning that ALL data will be cleared in future updates.
Motivation
There’s significant value in Hop being available on an EVM. Deploying early on NEO X helps solidify Hop’s place as a leading DEX and a thought leader.
Additionally, given the community and user uptake Hop has seen on NEO X PoS, it’s only natural to make its deployment on NEO X a priority.
Partner Details
Neo Global Development
This proposal is being made by Tony Sun, an employee of Neo Global Development. Neo Global Development is a legal entity focused on the ecosystem growth and maintenance of the suite of NEO.
Partner Legal
The legal entity that is supporting this proposal is Neo Global Development Ltd, a British Virgin Islands corporation known as “NGD”.
Delegate Sponsor
There is no delegate co-authoring or sponsoring this proposal. Instead, this is a proposal submitted by Tony Sun of NGD to support the growth of NEO as part of the overall NEO community.
Conflict of Interest Declaration
There are no existing financial or contractual relationships between NGD and any of Sushiswap’s legal entities, including Sushiswap, SUSHI tokens, nor investments of Sushiswap…
What potential risks are there for this project’s success? How could they be mitigated?
Deploying on NEO X should pose minimal risks, relative to deploying on alternate blockchains. As an Ethereum Layer Two, it uses Zero Knowledge proofs to inherit NEO’s core safety, while allowing developers to easily deploy existing EVM codebases. The bridge has been disintermediated, and Sushiswap can expect reputable Oracle providers to be available as data providers from Day One. NEO X’s EVM testnet has been running for the past two months. Additionally, the deployment has been audited multiple times, by auditors including Red4Sec. Welcome to NEO