Neo’s unique dual token mechanism separates the rights to govern and the rights to use the network. You can vote in Governance with one token ($NEO) and pay transaction fees with the other ($GAS). This system shares the right to manage and use the blockchain. It also provides a means of acquiring the tokens – voting.
This guide will show you how to passively acquire much more GAS tokens with NEON wallet.
What Is NEO?
Neo is an open-source community-driven blockchain platform. Neo was one of the first blockchains to support smart contracts. The initial Neo Smart Economy aimed to automate the management of digital assets through smart contracts, with the eventual aim of building a distributed network-based smart economy system.
What is the NEON Wallet?
The NEON Wallet is an open-source, cross-platform light wallet for the public Neo blockchain network that was developed by the City of Zion group on Github. The NEON Wallet is one of the most popular wallets among the Neo blockchain community. It allows users to receive, store and send Neo-based tokens, as well as access the various N3 dApps.
Why Vote with NEO?
Every new block, 5 GAS tokens are minted and split between three groups:
- 10% goes to Neo Token Holders.
- 80% goes to Voters.
- Another 10% goes to Council Members.
As you can see, Voters receive the biggest share of Gas tokens. Voting on NEO N3 is hugely beneficial as it allows you to earn much more rewards, than if you simply let your NEO tokens sit in your wallet.
How to Create a NEON Wallet?
Visit NEON wallet and download the app. Open the app. Pick the N3 network and click Create Wallet.
Pick a name and a password for your wallet, and click Create Wallet.
Save the private and encrypted keys and return to the login screen.
Step 2: Log In and Top Up the Balance
1. Enter your wallet’s name and password and click Login.
Deposit some NEO and GAS tokens into your wallet to start voting.
Now you can see your stored assets on the main page of the wallet.
How to Earn Rewards With the NEON Wallet?
Visit Quickvote and click Connect Wallet to connect your wallet.
A new window will appear asking you to pick a connection method. We’ll use the Deep Link connection, and click Link Wallet.
Your browser will prompt you to open the NEON Wallet app, and click Open app.
Confirm the connection in your wallet by clicking this sign over here.
Click on the dApps button to check if your wallet was successfully connected to Quickvote.
Step 3: Vote for a Node Candidate
Go to Quickvote and click Select to vote for a node candidate.
A list of node candidates will appear. Selecting a candidate within the #15-21 range is usually the most profitable option. We’ll select Everstake.
After selecting a candidate, click Vote to vote for the candidate.
Confirm the action in your wallet to confirm and proceed.
All done. Just wait for a few seconds and refresh/reopen the Quickvote page. It will now show your current vote and the candidate.
Conclusion
Everstake is a validator for over 50 blockchains and has a dedicated team of community, DevOps, and R&D specialists. You get your blockchain community representative with Everstake.
Feel free to contact our Neo Blockchain Manager on Twitter.
