NEO gives money back to sponsors

NEO issued a Sponsor Giveback Plan to give the money back to initial investors
31 October 2017   1209

The Chinese cryptocurrency NEO which now has a market capitalisation of $1,874,769,000  and is trading at $28,77 published an announcement presenting their Sponsor Giveback Plan on its official website on October 30.

The price of NEO cryptocurrency was quite unstable lately, going up and down, for instance, climbing by 30% in the end of september, rising up to $38 USD on Ocober 2 and falling down to the price of $26 on October 21. On the day the announcement was published, market cap of NEO rose by $500,000,000.

NEO currency charts september october
NEO Charts 

The abovementioned plan is set to give the money back to first currency’s sponsors, who invested during ICO1 and ICO2. NEO will unconditionally pay investors the amount equal to the fiat value they contributed at the time of ICO. The total amount planned to be given back is $4,513,906, which is about CNY 30,000,000.

Initial sponsors may receive their portions either through bank transfer (in CNY only) or in NEO. For those who contributed in BTC, the amount will be calculated as per then BTC/CNY rates.

We hope that the “NEO Sponsor Giveback Plan” will set a good example for the community. We are looking forward to seeing more of the blockchain developers and service providers to use NEO blockchain.

NEO Council

A of today, there are more than 90,000 NEO holders and over 76,000 NeoGas holders. At the moment of writing price of NEO in BTC is 0,0047 and 191,289 in CNY.

What is more, in an announcement it is stated that all the detailed instructions towars giveback will be released within 2 weeks.

Switcheo to Launch Cross-Chain ETH-NEO Atomic Swaps

Developers says that the technology of atomic swaps has been known for few years, but is not popular, since its implementation in practice is quite complicated
25 April 2019   83

Switcheo announced the official launch of the atomic swaps feature for the Ethereum and NEO blockchains.

From now on, Switcheo users have access to the inter-block exchange of their own token exchange, SWTH and ETH, which allows for the transfer of assets between two markets represented on the trading platform and makes Switcheo the first decentralized exchange that implements this functionality.

A challenge with existing trustless exchanges is that trades are confined to individual blockchains, limiting the market combinations that can be offered to users” says . With the launch of the new feature, users can now trade conveniently between ETH and NEO markets, while retaining full custody of their funds.

Ivan Poon

CEO, Switcheo

According to the developers, the technology of atomic swaps has been known for several years, but is not widely used, since its implementation in practice is quite problematic. Switcheo lead developer John Wong explained that his team spent a lot of time adapting the process to the user's needs and achieved the desired result.