BLOG March 25, 2020

Neo Foundation FY 2020 Financial Planning Announcement

Recently, the Neo Foundation has completed the financial review for fiscal year 2019, and will release an annual financial report soon to disclose the usage of funds in 2019 to the community.

According to rules established in the Neo White Paper, the NEO tokens maintained by the Neo Foundation are mainly used to continuously support Neo's technological development, ecosystem growth, community expansion and the normal operations of the foundation and related organizations. In principle, the annual expenditure shall not exceed 15 million NEO tokens. On March 24, 2020, the Neo Foundation completed the annual unlocking of NEO tokens in accordance with the rules, releasing 1,660,865 NEO tokens from the locked account to the current account.

Please refer to the detailed transaction information here.

We appreciate for the continuous monitoring and supervision of the fund usage by the Neo Foundation from the community. More details will be disclosed in the annual financial report which is to be released in early April.

Written by:
Neo Foundation