Neo Foundation released $ 11.3 million tokens to finance project development

Neo Foundation reported on the extraction of 1,660,865 NEO tokens (about $ 11.3 million on the change charge on the time of writing) from the chilly pockets to assist its actions.

Tokens had been transferred from the “blocked account to the current”, on the stableness of which it contains 14 608 325 NEO (practically $ 100 million), March 24. The funds will possible be used to develop the Neo neighborhood, develop the group and the work of the group.

As well-known throughout the message, the annual costs of the continued functioning of the ecosystem mustn’t exceed 15 million NEO tokens.

In addition to, the Neo Foundation promised throughout the shut to future to submit a financial report for 2019.

Recall in September Neo launched three new merchandise: the NEO • ONE developer framework, the NeoFS distributed file system, and the NEO Blockchain Toolkit.

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About the author

James Ashley

James Ashley is a 2006 graduate of De La Salle University in Manila, Philippines. After working over a decade as an additional writer at USA News, he decided to start his own news publication. He mainly focuses on technology, sports articles and editorials. He likes to listen to music and play chess in his free time.

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