NEO
The Neo Council completed its second on-chain action by voting to reduce the N3 oracle request fee from 0.5 to 0.1 GAS. Oracle functionality is one of several new features natively supported in the Neo N3 platform. However, the high associated GAS costs were prohibitive for applications making regular requests. The 80% fee reduction follows the slashing of network and system fees performed in Sep. 2021. The motivation behind the change was to make the functionality more cost-effective for developers.
NEO holders will soon be able to use their tokens to pay for services on Alchemy Pay’s merchant networks, including major eCommerce platforms Shopify and Arcadier. This results from a partnership announced by Neo Global Development and Alchemy Pay, a hybrid crypto-fiat gateway and payments services provider. The two entities will also be among 36 founding members of the Blockchain Infrastructure Alliance, formed to promote and drive the growth of blockchain and cryptocurrency. The BIA is composed of blockchain industry leaders, service providers, and regulators.
NGD accepted GhostMarket into the N3 Early Adoption Program. GhostMarket is a multi-chain NFT marketplace, and the first dApp to launch on the Neo N3 MainNet. The platform allows users to buy and sell NFTs in bulk across various blockchains. It also offers the ability to mint NFTs that support royalties, so that creators can receive a percentage of proceeds each time the token is sold. Since launch, artists, musicians, game developers, and general users have minted, traded, and sold NFTs on GhostMarket amounting to more than US $1.5 million in total volume.
Vang1ong7ang, NeoBurger early contributor and developer, joined NGD’s AMA series Neo Live on Monday, Nov. 9. NeoBurger is a NEO token wrapper that integrates a dynamic voting function to maximize GAS returns through Neo governance processes. In the AMA, Vang1ong7ang discussed how the new token maximizes GAS rewards, the security of the smart contract, the vision for a NeoBurger DAO, and how to contribute to the project.
Psykeeper, Saffron Finance founder, joined Neo Live on Wednesday, Nov. 10. Saffron is a DeFi platform that distributes yield according to a series of tranches, and was recently accepted into the N3 Early Adoption Program. In the AMA, Psykeeper discussed the principles behind the risk management of Saffron, current and upcoming features of the platform, plans for integrating with Neo and Flamingo, and the economic model behind the SFI token.
Yannick Koitzsch and Harry Hu, NekoHit co-founders, joined Neo Live on Thursday, Nov. 11. NekoHit is a platform designed to connect content creators with individuals who can offer funding on a per-project basis instead of the subscription model used by other solutions such as Patreon. NekoHit also recently joined the N3 Early Adoption Program. In the AMA, the co-founders discussed the basics behind the per-project crowdfunding model, establishing a stable price for the CAT token, and launching a DAO and NEKOIN governance tokens.
John Wang, NGD head of eco growth, joined the CryptoStalkers AMA series and discussed the benefits of Neo N3, migrating assets from Neo Legacy to N3, N3’s governance mechanism, and more.
BigONE exchange recently completed the upgrade from Neo Legacy to Neo N3. Users of the exchange are now able to deposit and withdraw NEO on the Neo N3 network. NEO/BTC and NEO/USDT markets are currently available. BigONE joins CEX.IO, Gate.io, Huobi, and OKEx as the exchanges currently supporting Neo N3.
NNT Catch Up
Flamingo Finance’s lead developers Odd Jørgen Røland and Adrian Fjellberg joined episode 64 of the Neo News Today podcast. In this discussion, the pair talked about how MyMingo recently took over responsibility for Flamingo, the team’s previous professional experience in data and user interfaces, making the Flamingo platform accessible for all users, and much more.
In the interview, the co-founders talked about how Flamingo will use the new burgerNeo, or bNEO, token wrapper when it migrates to Neo N3, replacing the current nNEO. NeoBurger is a governance dApp built on N3 that serves as a voting tool by wrapping the NEO token. NeoBurger wraps NEO tokens into bNEO, divisible to eight decimal places. Unlike nNEO, however, the bNEO contract doesn’t retain ownership of GAS – it maintains a record of bNEO user balances and the proportion of GAS to distribute to each. NeoBurger earns the majority of its GAS by voting in N3’s governance mechanism. Upon migrating the Flamingo contracts to N3, the team will replace the nNEO with bNEO.
Neo community developer Robert Oschler has published the third episode of From Ethereum to Neo. Driven by a grant from NNT, the video series is an educational resource designed to guide Ethereum developers through the process of migrating a Solidity contract to C# for use on the Neo network. Lesson three begins with guides for converting between the primary data types used on Neo and Ethereum. Oschler also gives a step-by-step walkthrough of converting a Solidity function to C#. Each step of the process is narrated to show the translation of logic between the two languages.
NNT released a video introduction to the NeoBurger voting optimization dApp. Viewers can learn how bNEO can help increase their GAS returns, along with how to wrap and unwrap NEO to and from bNEO.
Ecosystem
Nov. 8, Switcheo Labs released its monthly report for Oct. 2021, which noted the rebrand to Switcheo Labs, and the rename of TradeHub to the Carbon blockchain.
Nov. 10, TranslateMe founder Ryan Lloyd participated in an interview with Bitcourier. In the interview, Lloyd discussed the instant translation protocol and how it integrates blockchain, how the TMN token will be used to pay for TranslateMe’s API services, collaborating with COZ to migrate its smart contracts from Legacy to N3, and plans to launch the commercial API service in 2022.
Nov. 11, TOTHEMOON concluded its Cryptonaut Ideas Contest and noted that participants submitted approximately 250 proposals.
Nov. 12, Switcheo Labs co-founder and CEO Ivan Poon participated in a panel focused on DeFi at the Miami Crypto World conference.
Nov. 12, Poly Network announced forthcoming integration with the Avalanche blockchain, and released a guide for transferring assets to the blockchain through the Poly Network interoperability protocol.
Nov. 13, Flamingo was added to Coin Market League cryptocurrency data aggregation website alongside an FLM token giveaway campaign.
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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