ICOs Reserves to Decrease Significantly

Project that was included to the research spend around 2500 ETH per month, Golem and Tezos are record holders 
02 August 2019   1091

The Block analyzed the development of 57 ICO projects, which attracted about 8.2 million ETH. They found that since the close of the token sales, 5.9 million ETH (72%) were either moved or spent.

So, on average, projects spend or move around 2500 ETH per month. The record holders among the studied projects were Golem and Tezos. The first transferred 138 thousand ETH to the address of the Golem Foundation, and the second distributed 60.7 thousand ETH to four addresses where they remain to this day.

Some other startups, apparently, are forced to cover part of the transaction costs from the reserves, although they have cash.

In the first quarter of this year, the ICO projects raised around $ 118 million - 58 times less than in the same period in 2018.

Neo Foundation to Withdraw $11M From Cold Wallet

These funds will be used to finance its operations in currrent reporting year and $190M are stiill in the vault
26 March 2020   890

On March 25, the Neo Foundation announced the withdrawal of 1,660,865 NEO ($ 11 million) from the cold wallet to finance its activities in the current reporting year. About $ 190 million are still in reserves.

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. 

 

Neo Foundation

According to the publication, 1,660,865 NEOs were transferred “from a blocked account to a current account”. As the information on the blockchain shows, these funds were directed to an address containing 14.6 million NEO or about $ 100 million. The project does not disclose who controls this address and what fate awaits the released tokens.

White paper Neo suggests that project costs in any given year should not exceed 15 million tokens. In the near future, a financial report for 2019 will be published.

At the time of publication, NEO is the 23rd largest asset on the market with a capitalization of $ 479 million. The price of one NEO is $ 6.79.