Neo Foundation to Release 1.6 Million NEO Tokens for Future Developments

The Neo Foundation – the team behind the popular cryptocurrency project, NEO, has unlocked 1,660,865 NEO to push them through 2020, a blog post from the group reports. This number has been decided by looking at the annual financial year of 2019.

“According to rules established in the Neo White Paper, the NEO tokens maintained by the Neo Foundation are mainly used to continuously support Neo’s technological development, ecosystem growth, community expansion and the normal operations of the foundation and related organizations,” an excerpt from the blog post notes.

However, it’s worth noting that the group cannot go over 15 million tokens, as per the whitepaper. This is also done annually, so it shouldn’t come as too much of a surprise for onlookers. The group decided the amount this March 24th.

There’s a link to the detailed transaction information on NeoScan as well. The post also notes that more information will be revealed this April.

Recently, NEO has been able to get listed on the Binance.US cryptocurrency exchange. On top of this, the group committed to more education on blockchain by partnering with a Russian University to teach more about the technology.

In May of last year, the group earned $100 million to build its ecosystem out further.

Remember, all trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.

What do you think?

0 points
Upvote Downvote

Cardano Releases Solution that Scales More than Visa’s Payment Network

Infinox Capital Joins B3 Exchange as FX, Treasuries Market Maker