Week in Review – March 31 – April 6

General Updates

Neo initiated an investigation into a series of large-scale NEO token movements that affected consensus node composition and coincided with a sharp decline in the token’s market value. Neither the Neo Foundation nor Neo Global Development typically address price action or comment on market activity. Still, Neo released the research to address speculation that someone directly affiliated with the project was moving the assets. The activity began on March 24 and involved the transfer of approximately 9.25 million NEO—representing around 13.2% of the total circulating supply—through intermediary wallets tied to a Binance deposit wallet. In a statement to the community, the Neo team emphasized that neither the NF nor NGD, including the project’s founders and other team members, were responsible for initiating or influencing the recent transactions.

The Neo Foundation launched the Neo Bond program, a new month-long initiative designed to provide high-yield returns and price protection for NEO token holders. The Neo Bond offers a 50% APY, translating to a 30-day interest rate of approximately 3.44%. In addition to yield incentives, the program incorporates a price protection mechanism: the NF will guarantee a minimum price of US $5 per NEO for all participating assets. The deposit window opened on April 5 and will remain open for seven days. After the user deposits their NEO, a 30-day lockup will begin, during which deposited assets will be non-accessible.

Neo established a strategic collaboration with GamerBoom, a gaming data layer driven by an AI tagging system. Together, the two entities will aim to harness blockchain, gaming, and AI to onboard users into Web3.

Quickex integrated NEO into its non-custodial swapping platform. Users can swap into and out of NEO without registering an account, verifying their identity, or facing extended delays.

XBO.com listed NEO on its custodial exchange, which, according to CoinMarketCap, reported approximately $22.9 million in 24-hour trading volume on April 5.

Flamingo Finance concluded the FLUND to FLOCKS migration period, which marks the beginning of the epoch cycles. Approximately 39 million FLM were burnt during the first migration period. The initial epoch yielded FLOCKS holders $37,383.30 in dividends to be distributed proportionally by the portion of FLOCKS held per wallet. In Epoch 1, users can mint FLOCKS tokens using FLM.

Flamingo Finance reported that Binance had placed a Monitoring Tag on Flamingo Finance’s FLM token, signaling an evaluation of its continued listing on the custodial exchange. Monitoring Tags are assigned to cryptocurrency projects that are relatively mature, but are at risk of no longer meeting Binance’s listing criteria and may be delisted following review.

Enclave Wallet added a Neo Bond dashboard to the non-custodial wallet website. The dashboard shows the total NEO deposited and includes a calculator that displays various scenarios of how much NEO a user might expect to receive based on the amount deposited and the market price of the asset after 30 days.

Frank Coin hosted a GasBot trivia contest on the FrankCoin channel of the NeoF1 Discord server and distributed 3 GAS in rewards to participants.