The final phase of the Token Migration Incentive Program concluded
The final phase of the Token Migration Incentive Program began on October 1st. During this time, bonus NEO incentives for migration decreased from 0.75% to 0.5%. Migration bonus rewards concluded on October 31st.
The Neo Legacy network will continue to operate at least through the end of July of 2022 (a year after Neo N3’s launch), but token holders who have not yet migrated their assets to N3 should do so. This will be necessary so holders can get the most out of the Neo ecosystem, use the latest Neo dApps, participate in governance, and receive increased GAS rewards by voting for Neo Council members to manage and decentralize the Neo network.
Neo N3 exchange support and payment options expanded
Custodial exchange support for Neo N3 continues to grow. In October, joining CEX.IO, Gate.io, and OKEx, Huobi and BigONE Exchange each announced full support for N3 NEO and GAS deposits and withdrawals. In November, Binance also added support for NEO and GAS deposits and withdrawals on N3. Other large custodial exchanges, Bittrex and Bitfinex, have indicated their intent to support N3 assets in the near future.
Payment options also are expanding: In November, Neo and crypto-fiat hybrid payment solutions provider Alchemy Pay unveiled a new partnership that will enable global payment acceptance of NEO tokens. Integration into Alchemy Pay’s payment systems will allow NEO tokens to be transacted across Alchemy Pay’s merchant networks, including major eCommerce platforms such as Shopify and Arcadier. As part of the collaboration, Neo and Alchemy Pay also became two of the founding members of the new Blockchain Infrastructure Alliance (BIA), a group composed of blockchain industry leaders, service providers, and regulators with a mission to drive growth of blockchain and cryptocurrency.
Neo Council reduced GAS fees for N3 oracle requests by 80%
In November, in its second on-chain action, the Neo Council voted to cut the N3 oracle request fee from 0.5 to 0.1 GAS. The Council took this action with the intent to make oracle functionality (one of several new features natively supported in the Neo N3 platform) more cost-effective for developers making regular requests.
NeoBurger N3 governance dApp introduced a new way to vote and earn GAS rewards on Neo N3
The Neo community also gained a new way to vote and earn GAS rewards on Neo N3 as of October: NeoBurger, a Neo N3 governance dApp, debuted its automated voting tool and NEO token wrapper. The NeoBurger project seeks to address the usability issues of indivisible NEO in applications such as DeFi and to help holders maximize their GAS rewards.
COZ enabled voting on Neon Wallet
In October, COZ released a preview version of Neon Wallet v2.10.0, with WalletConnect support and a compatible N3 voting frontend, allowing users to participate in governance before the formal release. Following this, COZ formally released Neon Wallet v2.10.0, the first formal release to include WalletConnect support and governance voting capability, as well as support for NFT assets following the NEP-11 standard. COZ also published the first formal version of Neon Wallet mobile for Android and iOS devices.
NGD handed off Flamingo Finance project to community control
In an exciting milestone in October, the decentralized finance (DeFi) platform, Flamingo Finance, advanced from a Neo Global Development (NGD) project to a fully community-driven project led by an independent team. MyMingo Finance has now assumed ownership for Flamingo’s go-forward development, maintenance, and marketing.