Shanghai, China — On Aug. 2, 2021, Neo, a leading community-driven blockchain platform, launched the Neo N3 mainnet, marking a milestone not only for Neo but also the blockchain sector at large. Leading up to its full-scale launch, the team republished the codebase as v3.0.0 and made the RC4 testnet the formal testnet on Aug. 1, 2021. As Neo’s most significant platform upgrade, the Neo N3 mainnet launch will enable Neo to become a foundation for the smart economy of the future.
Since its founding, Neo’s commitment to building the smart economy of tomorrow has remained unswerving. With the launch of the Neo N3 mainnet, Neo will move to bridge together the on- and off-chain worlds by delivering innovative and groundbreaking features which will map the off-chain world assets onto the blockchain and vice versa. Underscoring its commitment to innovation, Neo aims to become the foundation for the future.
While Neo N3’s mainnet went live on Aug. 2, the journey doesn’t end here — rather, this is only the beginning of the next leg of Neo’s journey. In the upcoming weeks, the following events will occur:
“Early bird” token migration or voting (Aug. 9): Token holders can begin migrating GAS and Neo (NEO) tokens from Neo Legacy to Neo N3 from as early as Aug. 9. For users who participate in the early bird migration, they would have the opportunity to become the first to vote in Neo’s governance system and receive a larger than usual share of GAS fees. However, N3 support from external service providers such as wallets and exchanges will most likely be limited during this period.
Mass migration (Sept. 1): After the completion of Neo N3’s mainnet setup, we will begin the mass migration of Neo and GAS tokens, starting with the token migration incentive program to incentivize users to migrate by offering bonus Neo tokens. The following rewards will be offered:
Sept. 1–14 — 1% bonus per 100 migrated NEO
Sept. 15–30 — 0.75% bonus per 134 migrated NEO
Oct. 1–31 — 0.5% bonus per 200 migrated NEO
Migrating in quantities higher than the above numbers will not net you a token bonus, for example, 199 NEO during week one will net you 1 NEO. Rewards will be distributed within three days of completing your migration.
Speaking on this significant milestone, Da Hongfei, founder of Neo, noted that, “This has been three years in the works, and we’re so excited to introduce Neo N3 to not only our users but also the blockchain sector at large. Blockchain technology in 2021 is significantly different than back then, and Neo N3 was specifically developed to address changing user needs while also empowering developers and institutions to deliver the blockchain of the future. With Neo N3’s mainnet launch, I am more confident than ever that we will become a pillar for the smart economy of tomorrow.”