May 23, 2019BLOG

Notice: NEO Foundation Unlocks 5,530,000 NEO As Planned

By Neo Global Development

As was outlined in the NEO White Paper, the NEO Foundation (NF) manages 50% of the total NEO supply, which is 50,000,000 NEO. These funds are used for long-term support of NEO projects, with annual usage restricted to 15,000,000 NEO.

NF manages two wallet addresses; one which is used to hold locked NEO, and one which is for unlocked NEO. At the start of each year, the unlocked address should hold 15,000,000 NEO, defining the total NEO available to NF for the year. If less than 15,000,000 NEO is available in the unlocked address at the start of each year, NF will make up the balance by transferring NEO from the locked address.

On May 23rd, NF transferred 5,538,832 newly unlocked NEO to the unlocked address. The remaining 29,461,168 NEO were first sent to a change address before being transferred back to the locked address. This was done to differentiate the transactions for the community’s reference.

NF would like to reiterate that, as noted in the White Paper, the newly unlocked NEO will not be sold on exchanges. These funds are used to build the NEO ecosystem and support the growth of the community. An article detailing EcoBoost and how these funds are used will be released in the near future.

Address for unlocked NEO: Ae2d6qj91YL3LVUMkza7WQsaTYjzjHm4z1

Address for locked NEO:AQVh2pG732YvtNaxEGkQUei3YA4cvo7d2i