Neo News: Week in Review – September 13 – September 19
The Neo Council performed its first action on the Neo N3 MainNet by slashing network and system fees by 80%. The change made typical transactions on Neo N3 much more affordable and made the blockchain competitively priced against other Layer 1 and even Layer 2 networks. Before the changes, a GAS transfer would cost approximately US $0.56, and a simple NFT mint using the GhostMarket Python template would cost $2.91. After the change, the former will cost approximately $0.12, and the same NFT mint costs $0.59.
Neo Legacy reached block height 8,000,000 where an upgrade to cease GAS generation on the network took effect. NEO token holders that wish to keep receiving GAS rewards will need to migrate to Neo N3 to do so.
Neo Global Development announced Humswap as the second project accepted into the N3 Early Adoption Program. The Early Adoption Program is intended to incentivize the development of new dApps on the Neo N3 blockchain. Humswap is a DeFi platform built on Neo N3 that will offer liquidity pools for various tokens, a marketplace for NFTs, and token swapping. It will also provide an opportunity for users to play games and win prizes. As part of the program, NGD will offer resources and incubation opportunities to accelerate growth.
Custodial exchanges began to migrate NEO and GAS assets from the Legacy network to Neo N3 on behalf of their users. At the time of press, CEX.IO, Gate.io and Huobi added N3 support and opened trading, while OKEx noted support was underway.
The bonus NEO incentives for the Mass Migration decreased from 1% to 0.75%. To earn a bonus of 1 NEO, users will need to migrate 134 NEO to N3. The next change in bonus rewards will kick in on Oct. 1, where the bonuses will be reduced to 0.5%.
Various communities participated in a giveaway campaign for Neoverse NFTs, including TranslateMe, Blockchain Cuties, GhostMarket, and COZ.
NNT Catch Up
GhostMarket announced upcoming support for two new blockchains and the pending launch of a governance token that will live on supported chains. Over the next six weeks, multi-chain NFT marketplace and explorer GhostMarket will add support for the Ethereum and Avalanche blockchains. The team will also launch a utility token, GM, which will be used for rewards and other purposes. The GM token will live as the fungible token standard on the various blockchains supported by GhostMarket (i.e., NEP-17, ERC-20).
Neo News Today released a feature article on Neo Frontier Launchpad Excellence award winner, TOTHEMOON INC. TOTHEMOON INC. is creating NFTs that offer utility beyond their intrinsic value as collectible pieces of art in its community-based city-building-style game. TOTHEMOON UNIVERSE is among the first projects launching on the Neo N3 MainNet and will mint hundreds of thousands of NFTs to support the game. TOTHEMOON is a metaverse that seeks to layer and integrate NFTs in a way that establishes a thriving supply and demand economy. The game will require users to collaborate while individually accumulating characters and items needed to progress.
The InterWork Alliance merged with the Global Blockchain Business Council, becoming an initiative within the GBBC to continue to build its blockchain-agnostic frameworks and standards. The GBBC’s main strength is in helping shape policy, with access to regulators and policymakers in key areas. Meanwhile, the IWA has built token taxonomy, analytics, and application frameworks, but has yet to scale at a macro level to drive adoption. Ultimately, the merger is intended to help blockchain technology achieve mainstream adoption.
COZ updated the Neon Wallet with support for Ledger Nano S/X devices on N3, enabled by the recent addition of the Neo N3 app to Ledger Live’s app store. The team provided step-by-step instructions on completing the process of moving NEO and GAS tokens to the new network.
COZ released neo-boa v0.10, which added support to user implemented classes, an interface with N3 native contracts, and support for wildcard imports.
Sep. 14, TOTHEMOON joined Neo Live to talk about its NFT-based metaverse city-building game. In the AMA, the team spoke about its motivation for building the game, the basics of the gameplay, the team’s five-year roadmap, why the game is being built on Neo N3, the NFT minting schedule, and more.
Sep. 15, TranslateMe updated the Telegram Translator to v5.2.14, which added support for 14 new languages.
Sep. 15, Humswap announced its first contest, which will invite one winner to work directly with the team’s designer to create a Humswap-based NFT.
Sep. 17, Elements announced a partnership with NGD to provide turnkey solutions allowing game and dApp developers to integrate tokenization into traditional platforms using the Neo blockchain.
Sep. 18, OneGate announced the launch of its dApp store and plans to build a gateway for products developed on Neo N3. The app is available for download on the Apple Store and Google Play store.
Gate.IO listed N3 NEO and GAS on its custodial exchange.
Huobi listed N3 NEO and GAS on its custodial exchange.
Sep. 23: NEXT to join Neo Live AMA on the official Neo Telegram channel.
Oct. 1: Nash CEO, Kellogg Fairbank, presenting at The Next Web conference.
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