NEO mainnet has been online for 5 years. What is your current situation?

Continuous improvements to the infrastructure of many public channels have gradually emerged to reduce the impact of Ethereum congestion and other issues, including TVLs on Terra, BSC, Avalanche and Solana over 10 billion, the value closed facilities. Compared to the new broken chain, how does Neo manage the mainline online for 5 years?

01

What is Neo?

Little Ant Chain (NEO) is a China-based blockchain, cryptocurrency, and network platform used to develop decentralized applications (Dapps).By combining assets, digital symbols and smart contracts in a transparent environment,distribution network(It has the connection of a computer connected to different places, and there is no network connection).

NEO has worked so far and has become a major upgrade, major upgrade N3 and migration by NEO to improve security and network expansion, in addition to the public channel platform. Legacy of NEO N3 The latest version of NEO N3 has been released. Introduce new policy management.

Source of screenshot: Neo development history

According to data from Footprint Analytics, NEO was recently updated and moved to September as the whole industry changes. Compared to May 6. The daily growth of TVL is -84%.

For the DeFi market or investors, TVL is essential for improving the ecosystem and reliability of the project, higher costs, higher funding and channel users, and more assets than the project can write. .However, NEO's TVL has signaled a slowdown, interfering with industry trends and green growth.

Footprint analysis: NEO TVL

02 ib

NEO's business model

NEO N3's business model uses NEO and NeoGas (GAS), a dual token model that has received NEO policy, NEO is used for administration, and GAS is used for navigation.

According to NEO's official website, the board has been tasked with encouraging communities to participate in administration after the update.NEO administrators use NEO to select board members and the agreements that govern the N3 blockchain. 80% of the GAS created by each bloc will be distributed to voters who support the NEO Council and 10% will be distributed to all members. The remaining 10% is distributed to all NEO holders.

This dual token model also has its own innovations.Beside,By owning NEO, you will receive regular GAS payments, which help manage insurance premiums and increase the value of NEO.on the other hand,GAS can be used as NEO fuel tokens and circuits in the aftermarket, allowing multiple users to participate in the business ecosystem.

0Three

Now the NEO file is working

According to Footprint Analytics, the value and volume of the NEO token is as follows:

symbolic value

NEO arrived ahead of the mainnet launch on May 7.The peak is $ 122.45, and the price difference has narrowed and the current price is still going down, at US $ 25.8 as of December 20. The GAS is priced lower than the NEO, with a high price of $ 20, a low price of $ 1.74, and a current price of $ 5.69.

Footprint analysis: gas price and NEO price

Token volume

Regarding the real estate market over the past year,The global market economy is slowly declining., this month is the lowest level of the year, indicating a drop in reflection in the volume of NEO. While the volume as of December 20 was $ 180 million, it was still huge compared to the 10th Phantom Channel ($ 250 million as of December 20).

Footprint analysis: GAS volume and NEO volume

04

NeoThe current ecosystem is relatively simple.

Footprint analysis: Flamingo Finance TVL

Compared to the complete ecosystem of other public GameFi and NFT channels,NEO's ecosystem is monolithic.According to the data, NEO's TVL comes mainly from Flamingo Financial, which represents 100% of NEO's TVL.

The NEO Foundation announces the investment and development of the DeFi platform based on NEO Flamingo Financial (Flamingo for short), extending the DeFi protocol that integrates cross-chain inheritance, AMM, fixed income devices, commitments commercial and gift commitments.

Flamingo began to support key assets such as BTC, ETH and fixed coins, this could increase investor spending in product and process development, Flamingo Token FLM distributed for FUSD trading and retail outlets opportunity. It's possible. Used for perpetual contract margin trading.

Footprint analysis: FLM price and volume

According to Footprint Analytics, Flamingo's FLM Token has been offered for less than US $ 1 since its inception, with an average revenue of between US $ 20 million and US $ 30 million. This describes the poor performance of FLM and the limited number of application scenarios, and is typically distributed to participants sharing assets.

According to the December 6 report, Flamingo has completed a major overhaul of the NEO N3 Mainnet, and tools for migrating from NEO Policy to NEO N3 have also started. Any FLM reactivation created during the migration period will be moved from NEO Policy to NEO N3 at an additional rate within 30 days.

The success of Flamingo depends on the depth and breadth of community involvement.In order to participate in Flamingo's DeFi development, we need to introduce value-added products from other public channels and new contracts or commercial products to further improve.

concludes

As one of the first state-owned enterprises, NEO provided smart contracts with stable performance and reasonable distribution. From a NEO and ecosystem TVL metrics perspective, there is still a long way to go to create the vision of better performance, more storage, and better security.

Compared to last August, when public debates such as Terra, Avalanche and Solana took place, Terra, using the dual currency model, is now the second largest public channel in the entire network (after Ethereum). An important chain to support your infrastructure. , the establishment of a leading protocol in favor of biodiversity… has contributed to the rapid development of more than 10 billion TVL.

Therefore, for NEO to realize its vision of “better performance, greater storage capacity and greater security”, the following improvements need to be made:

- Make an ecological difference by presenting the best of heritage or activities.

-Decentralization has become an integral part of the ecological development of DeFi, and the decentralization process must be accelerated.

- Focused on solving the problem of Ethereum network congestion and high fuel consumption which can attract more users and operations.