General Updates
Neo celebrated its ninth anniversary of MainNet operations.
Neo co-founder Erik Zhang shared a Neo 4 development update, noting that the Contract Fee Whitelist is now developed and has entered testing. Whitelisted contracts will adopt a fixed-rate GAS model to ensure that execution costs are stable and predictable. Further, Zhang stated that Neo 4 will aim to offer a zero-fee mode where execution is free at the protocol level, a use case that could be valuable for stablecoins, payment gateways, and identity layers.
Neo will soon permanently shut down Neo Legacy, the original version of its blockchain, launched in 2016 under the name AntShares. The shutdown is occurring in two stages: TestNet closed on June 1, and MainNet will follow on Oct. 31. After Oct. 31, block production will permanently cease, and all on-chain operations, including asset transfers, token migrations, and contract deployments, will be disabled. Users must migrate assets and smart contracts to Neo N3 using the official portals before the deadline.
Neo released a video highlighting the ecosystem’s footprint at Singapore’s recent TOKEN2049.
Flamingo Finance introduced a new buyback-and-burn mechanism for its FLOCKS token, shifting away from a model that previously focused on reducing the supply of FLM, the platform’s native utility token. Beginning with Epoch 28, which ended on Oct. 13, 25% of income generated from the FLOCKS token will be used to repurchase and permanently burn FLOCKS itself. This marks a departure from the earlier model, in which that same portion of income was allocated to burning FLM.
Flamingo Finance noted that Epoch 28 concluded, that the total payout was US $23,400.23, and 114,682 FLM were burned.
AxLabs opened a new GrantShares request for proposals on behalf of Bane Labs, the core development team behind Neo X, inviting developers to build demo projects that showcase Neo X’s MEV resistance technology. Up to four projects can receive US $2,000 each for dApps that demonstrate and explain the practical application of Neo X’s MEV resistant features.
GrantShares witnessed the approval of the REDDON NEO NEWS Proposal Draft, which received four votes in favor and two in opposition. The funding unlocks on Oct. 20. Additionally, the following proposals are currently in discussion on the platform: Enabling Real-World Game Bets with Neo X Smart Contracts (Market Melee) and QSTN: Web3 Surveys for Community Feedback on Neo X.
SpoonOS announced it is a gold sponsor of the AI Investment Summit 2025, which will take place Nov. 2 in Berkeley, California. Additionally, SpoonOS updated its logo and color scheme.
Pixudi released a new update in preparation for the launch of its NEOBOX arcade platform, which will host mini-games directly on NeoFS for a fully decentralized experience. The team plans to kick off a game submission contest and release complete documentation and setup guides in Q1 2026. The team emphasized that the NEOBOX token is slated for launch by Q4 2026, once the arcade foundation is in place. They also reaffirmed their commitment to transparency, offering verified refunds where appropriate and ensuring early supporters remain eligible for future allocations.
NeoDashboard burned approximately 88,000 NDMEME tokens from the total supply, and added approximately 25.8 bNEO to its reserve, which now totals 2,311 bNEO.
nDapp released a weekly N3 GAS check-in, noting that network users claimed approximately 86,845 GAS over the past week, and that on-chain activity burned about 941 GAS.
Frank Coin hosted a GasBot trivia contest on the FrankCoin channel of the NeoF1 Discord server and distributed 3 GAS in rewards to participants.
Developer Updates
Neo SPCC released NeoFS S3 Gateway v0.41.3 update, which included several minor fixes.
Neo SPCC released NeoFS v0.49.1, which included a small patch of updates. TestNet was updated quickly, and MainNet will be updated the week of Oct. 20.
Neo SPCC updated REST Gateway to v0.14.2, an upgrade that’s recommended for anyone running a private gateway. The upcoming version will also drop APIs that were previously deprecated.
Neo SPCC updated neo-explorer to v0.15.0, which allows the tools to retrieve more statistics from the NeoFS v0.49.0+ networks.
NNT Catch Up
NNT hosted Crypto Coffee & Blockchain Beer Spaces #74 on the official The Smart Economy Podcast X account. Topics of discussion included Neo celebrating nine years of MainNet, the most recent Centre Point in Singapore and the goals and outcomes, the merit of having Erik Zhang in the room, empowering NEO token holders, Everstake’s insight into the Neo community, how Pixudi was able to address the chain’s opportunities and community feedback, and a reminder for token holders to migrate from Neo Legacy to N3.
Events
Oct. 24: NNT hosting CC & BB #75 on The Smart Economy Podcast official X account.
Oct. 28: Meme2Earn hosting Community Fireplace on official Discord server.
Oct. 28: Flamingo Finance hosting Community Lagoon on official X account.
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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