Neo Global Development has released a new roadmap which defines the three major milestones standing between Neo Legacy and N3 adoption. These three phases—formal TestNet, MainNet setup, and mass migration—will be completed over the coming months as the Neo ecosystem moves to fully adopt the newly improved platform.
Currently the first phase is underway as critical components of the N3 RC4 TestNet are onboarded. This stage primarily involves essential network testing and the setup of various special roles, including NeoFS, Oracle, and initial Council nodes. Once stable operations are verified, the RC4 TestNet will be re-published as the final Neo v3.0.0 and graduate to become the Formal TestNet.
Once the Formal TestNet has been established, the N3 MainNet genesis block will be minted and the TestNet nodes will begin migration over to MainNet. During this time, it will be possible for early adopters to migrate tokens and begin voting, but support from external services such as exchanges will be limited.
This is the first of two migration options for users. Users that migrate assets shortly after the N3 MainNet launch may be able to take advantage of temporarily increased GAS distribution rates for voting as generated GAS will be split across less NEO.
Alternatively, users can opt to wait for MainNet setup to be completed, which will be followed by the mass migration phase. Expected to begin roughly one month after the genesis block is minted on MainNet, at this point the first wave of dApps should be ready to begin onboarding users.
NGD has created a token migration incentive program to reward users that migrate assets within the first few weeks of this final stage of the N3 launch. Users will receive bonus NEO, funded by Neo Foundation, based on the week they migrate and the amount of NEO migrated.
The bonuses are defined as follows:
- Week 1 and 2: Users receive an extra 1% bonus on top of the amount of NEO migrated
- Week 3 and 4: Users receive an extra 0.75% bonus on top of the amount of NEO migrated
- Weeks 4 to 8: Users receive an extra 0.5% bonus on top of the amount of NEO migrated
The original announcement can be read in full at the following link:
About The Author: Brett Rhodes
Brett is a blockchain enthusiast and freelance writer who originally began producing content for the gaming & eSports industries. Now he spends most of his time contributing in the Neo ecosystem.
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