Neo News: Week in Review – August 24 – August 30

General Updates

Flamingo Finance suffered an exploit this week that drained much of the platform’s remaining TVL. According to the maintainers, an attacker exploited a flaw in how the lending contract interacts with the staking contract, causing rewards to be miscalculated and allowing them to mint a large amount of FLM. That FLM was then sold across FLM pools, collapsing the FLM price and draining most of the remaining assets, including fWBTC, FUSD, and bNEO. The maintainers have been transparent that a full post-mortem is still underway, no conclusions are final, and the team is still working to determine what remains and what is functioning as intended.

Neo co-founder Da Hongfei announced that several cross-chain bridges will soon support USDC transfers to Neo X via Chainlink CCIP. He added that more stablecoins are planned.

COZ announced MONOPOLY Experience: Tesouros do Brasil, an in-person interactive experience built on Neo. The project invites individuals to participate on a journey through Treasury Rooms that celebrate Brazil’s five regions, where every user will have non-fungible item to track their journey and record their choices made throughout the activation.

NeoPod distributed its first payouts to community members since relaunching earlier this year, averaging approximately US $15 per claimer, with the highest individual payout reaching roughly $50. The Aug. 28 milestone caps a five-month stretch in which the community ambassador program has rebuilt its platform, hosted six AMAs, and begun pursuing a formal governance role through GrantShares. At the time of press, the proposal has garnered four yes votes and needs one more to reach quorum. Voting ends on Sep. 4.

nDapp reported the weekly N3 $GAS check-in. Network users claimed 82,163 $GAS this week, while on-chain activity burned 959 $GAS.

Frank Coin hosted a Neo trivia contest, rewarding the top player 100 FRANK and each of the top 10 players 40 FRANK.

NNT hosted a GasBot Trivia round where participants competed for a pool of 4 $GAS.

Developer Updates

Neo SPCC shipped maintenance updates to two NeoFS infrastructure components, the Neo Exporter monitoring tool and the locode-db geographic location database, aligning both with the latest ecosystem dependencies.

R3E Network introduced an AI-driven upgrade to Neo OS Explorer at neo3scan.com. The explorer covers Neo N3 and Neo X addresses, transactions, contracts, tokens, and blocks, explaining on-chain activity and mapping relationships rather than just returning raw data. Additionally, R3E Network announced address event subscriptions on neo3scan.com. Users can monitor transactions, NEP-17 and NEP-11 transfers, and ViewChange alerts on N3 MainNet or TestNet via email.

Neo community developer Chris Schuchardt submitted a pull request restoring VS Code compatibility for the N3 Visual DevTracker extension. The PR addresses empty studios, deploy faults, missing wallets, and disappearing toast notifications that had made Neo Express difficult to use.

NNT Catch Up

NNT hosted Crypto Coffee and Blockchain Beer Spaces #107 on the official The Smart Economy Podcast X page. Topics of discussion included what an ecosystem pursuing AI as a vertical might look like, the state of AI in the Neo ecosystem, an overview of SpoonOS, the current state of x402 adoption, and how other ecosystems are going after AI.

Events

September 4: NNT hosting Crypto Coffee and Blockchain Beer Spaces #108 on the official Smart Economy Podcast X account.