Gas

Gas is one of two native tokens on the Neo blockchain, the other being NEO itself. Its purpose is to serve as the fee currency that pays for transactions and smart-contract execution on the Neo network. It is aimed at developers and users who need to interact with Neo-based applications and at NEO token holders who receive Gas as a form of network compensation.

Neo uses a Proof-of-Stake-style consensus mechanism in which block-processing influence is proportional to the tokens a participant holds rather than to raw computational power. NEO holders are credited with Gas periodically, and that Gas is then spent whenever a user submits a transaction or deploys a contract on the network. Gas therefore circulates between NEO holders who earn it and network participants who consume it to pay for activity.

Gas is generated and distributed to NEO holders as a reward for staking, and it is spent by anyone interacting with the Neo network to cover processing costs. The emission rate is designed to decrease over time rather than remaining constant. The circulating supply is recorded at 65,093,580.54 tokens, representing 100 percent of supply issued, with no additional supply pending and a dilution overhang of 0.0 percent, meaning no further scheduled issuance is overhanging the current float. The 24-hour turnover ratio stands at 2.66 and the 30-day average volume-to-market-cap ratio at 8.51, both of which describe how actively the existing supply is changing hands relative to the asset's market capitalisation of approximately 95.3 million USD.