Neo N3 has launched. Mass migration of NEO and GAS is safely underway. Now it’s time to build the Smart Economy.
This special edition of the Neo Global Monthly Report focuses on the development progress achieved during July and August which brought us to this momentous time. Further, it documents the Neo N3 readiness of best-in-class support for all the most popular languages, prepared for delivery directly into the hands of developers.
July was a particularly lively month for the Neo ecosystem as hackathon participants made progress on their projects. The Neo Frontier Launchpad had begun in late May, and hackers had until July 12th to submit their concepts. The esteemed panel of judges spent the next week judging the entries, and completed their deliberations on the 20th.
On the same day, the N3 RC4 node version was released, quickly proving itself capable of stable operations within a TestNet setting. This milestone release would later become the formal N3 release, used for the official Neo N3 TestNet.
Testing went well. N3 was here, proven technically capable and ready to be put to work for developers. The team moved forward, and the Neo N3 MainNet launched at 9.00 a.m. (UTC) on August 2nd.
Alongside the launch came the beginning of early bird migration, allowing Neo Legacy users to become Neo N3 MainNet users for the first time. The process was initially facilitated by NEXT and O3 Labs’ NeoLine and O3 wallets respectively, each recently updated for N3. COZ soon followed with its own built-in migration tool within Neon Wallet.
NEO tokens migrated to Neo N3 would be quickly put to task voting for one of the initial council members, made up of community and NF/NGD-operated nodes. With so few votes active within the first few weeks of migration, voters received accelerated GAS rewards for playing their part in N3’s decentralization.
With the end of August began the start of mass migration from Neo Legacy to Neo N3. Over the coming months, we expect to see new users and dApps arriving on the network, ready to be the first pioneers in the next era of Neo.
Adoption of the network is now on the minds of many. All those involved in the Neo ecosystem are eager to see the first rounds of dApps on the network, many playing their own part in the transition. Though the onboarding process for any new technology is often slow initially, the first contracts have already made their way onto the N3 MainNet.
GhostMarket, an NFT minting and trading platform, claimed the prestigious title of first Neo N3 dApp. Since it was deployed on August 24th, over 400 NFTs have been minted via GhostMarket on Neo N3, 75 of which were successfully sold to patrons.
As the number of migrated assets continues to increase, more and more Neo users join the new network. With the ecosystem prepared to support a thriving dApp ecosystem, Neo now opens the doors to other first-comers. The Early Adoption grant initiative has been launched to this end, curating the best new projects while seeking to further bolster the Neo infrastructure.
On the user-facing side, a range of promotions are planned to celebrate the launch of the Neo N3 MainNet, including NFT giveaways, TestNet activities, content programs, and more. Keep an eye out on Neo’s official channels for more information.