Question 1

What is Neo?

Accepted Answer

Neo is an open-source blockchain platform launched in 2014 under the name Antshares by Da Hongfei and Erik Zhang. It was rebranded to Neo in 2017. The platform is designed around what it calls a "smart economy", combining digital assets, digital identity and smart contracts. Neo uses a dual-token system comprising NEO and GAS.

Neo N3 uses Delegated Byzantine Fault Tolerance (dBFT), a consensus mechanism in which elected consensus nodes propose and validate blocks. Transactions included in confirmed blocks have finality once consensus is reached.

**Key Features:**

1. **Smart Contracts (NeoContract):** Neo supports smart contract development using programming languages including C#, Java, Go, Python and TypeScript. Smart contracts are executed by the NeoVM (Neo Virtual Machine), Neo's runtime environment for contract execution.

2. **NeoFS:** NeoFS is a decentralised file storage network with permission controls based on wallet addresses. Data is stored as objects in containers, which define placement policies and access rights. Access to stored content can be managed through session tokens or bearer tokens.

3. **Neo Name Service (NeoNS):** NeoNS is a distributed naming system that maps human-readable domain names, such as `alice.neo`, to resources including wallet addresses, NeoFS links and IP addresses. It supports hierarchical domains, such as `shop.alice.neo`, with domain owners able to control their subdomains. Top-level domains, such as `.neo`, are managed through Neo's governance structure.

4. **Neo Oracle Service:** Neo's Oracle service allows smart contracts to request data from external sources and use the returned information in on-chain execution. This allows applications to interact with information that is not stored directly on the Neo blockchain.

5. **Self-Sovereign Identity:** Neo includes support for self-sovereign identity as part of the N3 feature set. This supports applications that use blockchain-based identity information and credentials without relying solely on a central identity provider.

6. **Neo X:** Neo X is an EVM-compatible sidechain within the Neo ecosystem. It uses dBFT-based consensus and is connected to Neo N3 through interoperability infrastructure. Its bridging infrastructure enables supported assets and data to move between Neo N3 and Neo X, allowing applications on the two networks to interact.

7. **Dual-Token Model:**

- **NEO:** The governance token of the Neo network. NEO holders can use their tokens to vote for candidates to the Neo Council. The 21 candidates with the most votes form the Council, with the seven highest-ranked members also serving as consensus nodes. NEO has a maximum supply of 100 million tokens and is indivisible.
   - **GAS:** The utility token used to pay network and system fees, including costs associated with transactions and smart contract execution. GAS is generated with each block and distributed through Neo's governance incentive model to NEO holders, voters and Neo Council members. The rate of GAS generation and other network parameters can be adjusted through Neo's governance process. Unlike NEO, GAS does not have a fixed maximum supply on Neo N3. GAS paid as system fees is burned, while network fees are distributed to consensus nodes.

Question 2

What is Neo (NEO) used for?

Accepted Answer

NEO is primarily used for governance of the Neo N3 network and participation in its GAS distribution model.

1. **Governance:** Each NEO represents one vote that its holder can assign to a registered candidate for the Neo Council. The 21 candidates receiving the most votes form the Council.

2. **Consensus Node Selection:** The seven highest-ranked Neo Council members also operate as consensus nodes. These nodes propose and validate blocks under Neo's dBFT consensus mechanism.

3. **Network Governance:** The Neo Council can make changes to selected network parameters, including network and system fees, GAS issuance, storage pricing and designated network roles. NEO holders influence the composition of the Council through their votes rather than voting directly on each network parameter.

4. **GAS Distribution:** Holding NEO allows users to receive a share of newly generated GAS. NEO holders who participate in governance by voting can receive additional GAS under Neo N3's incentive model. GAS is used separately from NEO to pay network fees and smart contract execution costs.

The Neo blockchain also supports applications and services including tokenised assets, decentralised applications, NeoFS storage, NeoNS domains, Oracle services, self-sovereign identity and interoperability with Neo X. These are capabilities of the Neo platform rather than direct uses of the NEO token.

Question 3

Neo's Migration from Legacy to Neo N3

Accepted Answer

Neo N3 was introduced as a new version of the Neo protocol. Because some of its protocol changes were not backwards compatible with Neo Legacy, N3 was launched as a separate blockchain. NEO and GAS held on Neo Legacy could be migrated to their Neo N3 equivalents at a 1:1 ratio.

Question 4

# Migration Process

Accepted Answer

Before the shutdown of Neo Legacy, users could migrate NEO and GAS through Neo's migration system, supported wallets or participating exchanges. Migration generally involved creating an N3 address and transferring Neo Legacy assets through the migration system, which released the equivalent amount on Neo N3.

Question 5

# Migration Requirements

Accepted Answer

Before the Legacy network shutdown:

- Migrations of at least 10 NEO or 20 GAS did not incur the additional 1 GAS migration fee.
- Migrations below 10 NEO or 20 GAS incurred an additional fee of 1 GAS.
- NEO and GAS were migrated separately.

Neo Legacy has since been shut down and no longer produces blocks. As a result, assets remaining on the Legacy network can no longer be transferred or migrated through the original migration process.

Assets migrated before the shutdown became available on Neo N3, where NEO can be used for network governance and participation in the GAS distribution model.

Question 6

Who created Neo (NEO)?

Accepted Answer

Neo was co-founded in 2014 by Da Hongfei and Erik Zhang under the original name AntShares. In 2017, the project was rebranded to Neo to reflect a broader platform vision and the integration of smart contracts.

**Da Hongfei** is a Chinese entrepreneur who co-founded both Neo and Onchain, a blockchain infrastructure company that develops technology for enterprise and institutional use. He has played a key role in promoting blockchain adoption in China and has been actively involved in public and enterprise blockchain development.

**Erik Zhang** is the lead developer of Neo and the architect of its Delegated Byzantine Fault Tolerance (dBFT) consensus algorithm. He continues to be involved in the technical design and implementation of core features of the Neo blockchain.

Neo's strategic direction and ecosystem development are overseen by the **Neo Foundation**, which manages funding and long-term planning. The **Neo Global Development (NGD)** team, established by the Foundation, handles global community outreach, technical development, and ecosystem partnerships.

Independent developer communities also contribute to Neo’s infrastructure and applications, including:

- **COZ (City of Zion)**: An open-source development group responsible for building core tools such as wallets, SDKs, and explorers.
- **NeoSPCC (Neo Saint Petersburg Competence Center)**: A team focused on infrastructure development, including the decentralised storage layer NeoFS.
- **NeoEconoLabs (NEL)**: A China-based developer group supporting smart contract tooling and broader ecosystem participation.

These groups collaborate with the Foundation to support the platform's decentralised development model and ongoing upgrades.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	NEO-USDT NEOUSDT	binance	AA	2,16USDT	-2,22%	186.260,73NEO	5797	2,21USDT	2,24USDT
2	NEO-USDT NEO-USDT	okex	A	2,16USDT	-2,30%	88.177,48NEO	1091	2,21USDT	2,24USDT
3	NEO-USDT NEOUSDT_SPBL	bitget	BB	2,16USDT	-2,22%	33.609,92NEO	705	2,21USDT	2,24USDT
4	NEO-TRY NEOTRY	binance	AA	107,50TRY	-1,92%	32.469,63NEO	433	109,60TRY	111,00TRY
5	NEO-USDT NEO_USDT	whitebit	BB	2,17USDT	-1,81%	29.543,07NEO	2933	2,21USDT	2,25USDT
6	NEO-USDC NEOUSDC	binance	AA	2,15USDC	-2,62%	19.580,23NEO	348	2,21USDC	2,24USDC
7	NEO-USDC NEO_USDC	whitebit	BB	2,15USDC	-2,54%	8989,41NEO	597	2,21USDC	2,24USDC
8	NEO-EUR NEO_EUR	whitebit	BB	1,93EUR	-2,43%	5929,92NEO	496	1,98EUR	2,00EUR
9	NEO-USDT NEO-USDT	kucoin	BB	2,16USDT	-2,44%	4361,78NEO	320	2,22USDT	2,24USDT
10	NEO-UAH NEO_UAH	whitebit	BB	92,77UAH	-2,06%	4192,47NEO	465	94,72UAH	96,50UAH
11	NEO-USDT NEO_USDT	gateio	A	2,16USDT	-2,39%	3848,74NEO	127	2,21USDT	2,24USDT
12	NEO-USDC NEO_USDC	gateio	A	2,16USDC	-2,53%	3224,23NEO	197	2,21USDC	2,24USDC
13	NEO-BTC NEO_BTC	whitebit	BB	0.0₄2682BTC	-0,78%	2456,05NEO	227	0.0₄2703BTC	0.0₄2744BTC
14	NEO-USD NEOUSD	kraken	AA	2,16USD	-2,22%	2349,34NEO	63	2,21USD	2,23USD
15	NEO-EUR NEOEUR	kraken	AA	1,93EUR	-2,53%	1680,38NEO	25	1,98EUR	1,99EUR
16	NEO-USD NEO_USD	cryptodotcom	AA	2,17USD	-1,50%	435,29NEO	15	2,20USD	2,23USD
17	NEO-USDC NEO-USDC	okex	A	2,16USDC	-2,13%	331,71NEO	24	2,21USDC	2,23USDC
18	NEO-EUR NEO-EUR	okex	A	1,93EUR	-2,43%	157,11NEO	43	1,98EUR	1,99EUR
19	NEO-BTC NEO-BTC	kucoin	BB	0.0₄2670BTC	-2,20%	71,56NEO	90	0.0₄2730BTC	0.0₄2750BTC
20	NEO-BTC NEO_BTC	gateio	A	0.0₄2649BTC	-2,61%	54,72NEO	7	0.0₄2720BTC	0.0₄2720BTC
21	NEO-USDT NEOUSDT	cexio	BB	2,18USDT	-1,65%	23,62NEO	2	2,22USDT	2,22USDT
22	NEO-USDC NEOUSDC	cexio	BB	2,18USDC	-1,61%	23,62NEO	2	2,21USDC	2,21USDC
23	NEO-EUR NEOEUR	cexio	BB	1,93EUR	-1,97%	18,89NEO	2	1,97EUR	1,98EUR
24	NEO-GBP NEOGBP	cexio	BB	1,63GBP	-1,32%	9,45NEO	1	1,65GBP	1,65GBP
25	NEO-USD NEOUSD	cexio	BB	2,20USD	1,03%	6,75NEO	1	2,18USD	2,20USD
26	NEO-USDT NEO_USDT	cryptodotcom	AA	2,14USDT	-3,50%	2,38NEO	1	2,22USDT	2,22USDT
27	NEO-KRW KRW-NEO	upbit	B	2888,00KRW	-2,10%	103.042,99NEO	875	2950,00KRW	3000,00KRW
28	NEO-USDT NEO_USDT	coinw	-	2,16USDT	-2,44%	75.400,81NEO	3099	2,21USDT	2,26USDT
29	NEO-USDC NEOUSDC	bitrue	D	2,16USDC	-2,04%	70.294,11NEO	36.850	2,21USDC	2,24USDC
30	NEO-USDT neo_usdt	lbank	C	2,16USDT	-2,17%	48.126,09NEO	3437	2,21USDT	2,24USDT
31	NEO-USDT NEO_USDT	bitunix	C	2,17USDT	-1,99%	33.122,85NEO	6571	2,21USDT	2,24USDT
32	NEO-EUR NEO-EUR	bitvavo	B	1,93EUR	-2,38%	30.819,76NEO	252	1,98EUR	2,00EUR
33	NEO-USDT NEOUSDT	mexc	C	2,17USDT	-1,90%	29.809,47NEO	2974	2,21USDT	2,24USDT
34	NEO-USDC NEOUSDC	mexc	C	2,16USDC	-2,04%	24.507,70NEO	3007	2,21USDC	2,24USDC
35	NEO-USDT NEOUSDT	binanceusa	B	2,16USDT	-1,37%	26.996,53NEO	121	2,19USDT	2,23USDT
36	NEO-USDT NEO_USDT	bydfi	-	2,16USDT	-2,26%	24.244,81NEO	1496	2,21USDT	2,24USDT
37	NEO-USDT NEO-USDT	bingx	D	2,17USDT	-1,94%	20.201,32NEO	5735	2,21USDT	2,24USDT
38	NEO-USDT neo_usdt	xtpub	-	2,16USDT	-2,22%	18.627,03NEO	2768	2,21USDT	2,24USDT
39	NEO-USDT NEOUSDT	bitrue	D	2,16USDT	-2,26%	12.316,69NEO	2521	2,21USDT	2,24USDT
40	NEO-TRY NEOTRY	btcturk	E	107,83TRY	-1,47%	9656,03NEO	111	109,44TRY	111,14TRY
41	NEO-USDT neo_usdt	digifinex	D	2,16USDT	-2,26%	9680,85NEO	3568	2,21USDT	2,24USDT
42	NEO-KRW NEO_KRW	bithumbkorea	-	2900,00KRW	-2,13%	7331,72NEO	101	2963,00KRW	2982,00KRW
43	NEO-USDT NEOUSDT	btcturk	E	2,16USDT	-2,53%	5036,28NEO	28	2,21USDT	2,24USDT
44	NEO-BTC NEOBTC	mexc	C	0.0₄2685BTC	-0,81%	4924,21NEO	1435	0.0₄2707BTC	0.0₄2744BTC
45	NEO-USDT neousdt	huobipro	C	2,15USDT	-2,71%	4683,10NEO	186	2,21USDT	2,34USDT
46	NEO-USDT NEOUSDT	hitbtc	E	2,16USDT	-2,95%	1895,41NEO	994	2,23USDT	2,24USDT
47	NEO-USDT NEOUSDT	bequant	C	2,16USDT	-2,95%	1895,41NEO	994	2,23USDT	2,24USDT
48	NEO-EUR NEOEUR	bit2me	B	1,93EUR	-2,53%	1680,38NEO	25	1,98EUR	1,99EUR
49	NEO-USDT NEOUSDT	latoken	D	2,24USDT	-0,00%	0NEO	0	2,24USDT	2,24USDT
50	NEO-INR NEOINR	coindcx	-	214,28INR	-5,13%	58,38NEO	10	225,86INR	227,12INR