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.
"NEO Sponsor Giveback Plan" Announcement https://t.co/3t6jDdW1Pe
— NEO Smart Economy (@NEO_Blockchain) 30 октября 2017 г.
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.
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.
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.