NEO
October 17th, 2020, was the fourth anniversary of the Neo MainNet launch. To celebrate, the Neo Foundation released an open letter to the community highlighting Neo’s successes and challenges moving forward. The NF noted recent progress in joining the InterWork Alliance, partnering with Blockchain-based Service Network, forming the Poly Network interoperability protocol alliance, and launching the Flamingo Finance DeFi protocol.
It also discussed the upcoming launch of Neo3, outlining the new features of the full-stack blockchain solution. As the Neo3 release nears closer, the NF is preparing an early adopter and migration plan, developer grants program, and a post-launch hackathon.
Neo Global Development released its monthly report for September 2020. The report noted September’s launch of Flamingo Finance as the highlight of the month, and also outlined recent protocol development progress towards Neo3 Preview4.
The Flamingo Finance team announced it will launch its automated market maker-based perpetual contract exchange earlier than expected. The perpetual contract exchange, Perp, was initially scheduled for release after Flamingo’s FUSD stablecoin minting module. However, Flamingo reasons it already has a “relatively large amount” of stablecoin volume suitable for the DeFi platform’s needs. Flamingo currently maintains a stable liquidity provision of approximately US $200 million in the Swap module, with approximately one-fifth of that liquidity being the USDT stablecoin.
Additionally, the Flamingo Finance team launched a trading router that automatically searches for an optimal trading route to execute trades between liquidity pools.
NNT Catch Up
Neo News Today hosted NGD Ecosystem Growth director, John Wang, on episode 42 of the NNT podcast. In this episode, topics of discussion included the day to day work of the Ecosystem Growth team, the types of projects it seeks to collaborate with, differences in building relationships with Chinese versus international projects, interoperability, Neo3, DeFi, Flamingo Finance, and much more.
Developer Groups
O3 Labs updated its mobile wallet version to 1.0.6, adding a risk asset reminder.
Ecosystem
October 12th, NeoEconomy released an unofficial Switcheo TradeHub explorer.
October 12th, Binance announced a week-long NEO deposit incentive and NEO trading competition to promote and “celebrate the successful launch” of Flamingo Finance. The exchange also added leveraged trading to its highest-volume Flamingo markets: FLM/BTC and FLM/USDT.
October 13th, Red Pulse and APEX announced a merger. The new entity will be known as Phoenix Global, and NEP-5 CPX token holders will be able to convert their tokens to PHB tokens at a 1 PHB:2.5 CPX ratio. The joint venture plans to build a new DeFi platform called “Horizon.”
October 14th, NEO support was integrated into the Spatium’s new mobile wallet, a keyless non-custodial solution for managing digital assets.
October 14th, TranslateMe reported that more than 1,000 users have registered on its beta Marketplace within the first two weeks.
October 14th, Nash launched its Nash Link payments platform. Nash Link aims to make it seamless to accept cryptocurrency payments while avoiding the usual volatility risks or fees associated with traditional transactions.
October 15th, Nash released an abridged weekly update that included dynamic fee calculation for NEO/GAS transfers, additional token support in its wallet, plus more.
October 15th, Nash released a new episode of its Beyond the Blockchain podcast, with guest Scott Melker to discuss crypto markets, responsible investment, and more.
October 15th, Switcheo was listed on Staking Rewards, a data aggregator website that features projects offering staking rewards.
October 15th, Switcheo put the first TradeHub Improvement Proposal to vote on its recently launched governance portal. Switcheo is building toward becoming a fully decentralized trading platform, and the launch of its decentralized governance structure marks a “significant milestone.”
October 17th, Nash concluded a swag design contest for the upcoming launch of its merch store, announcing the winning designs.
October 18th, QLC Chain participated in a community AMA, where the team noted future collaboration with the Flamingo Finance protocol is possible.
Token Listings
Binance listed isolated margin trading for the Flamingo Finance token.
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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