NEO3 - NEO is Giving Back the Money Raised During their First ICO

NEO is Giving Back the Money Raised During their First ICO

What a movement that NEO has decided to take! NEO is launching the Sponsor Giveback Plan in order to give back to early sponsors, the same amount of fiat value they have contributed with to NEO.

The reasons behind the decision

NEO announced this plan after marking out the support that the NEO community is giving. There are more than 90,000 NEO holders and 76,000 NeoGas owners. The Official Twitter account has arrived at 110,000 followers and on Reddit, the company has more than 30,000 subscribers.

In addition to it, there was an increase in the number of developers working in high-quality projects, including NEON light wallet, NeoTracker blockchain browser and NeoNewsToday.

The plan to giveback the funds to the early sponsors includes the ICO1 and ICO2 offerings. NEO will pay those contributors at the CNY rate back then, something around CNY 30,000,000 ($4,513,906 USD Dollars today).

“We decide to officially launch the NEO sponsor giveback plan designed to unconditionally give back to the early sponsors in the amount equal to the fiat value they contributed back then”, the company said on a statement today. “The giveback comes from the remainder of the total funds raised during the seed-round financing, ICO1 and ICO2. Initial sponsors may claim their respective portions either through bank transfer or in NEO.”

The company has also distinguished between blockchain projects that search for funds performing ICOs and scams that only aim to perform illegal fund raising. “NEO Sponsor Giveback Plan will set a good example for the community. We are looking forward to seeing more of the blockchain developers and service providers to use NEO blockchain”, they have commented in their webpage.

The company has also thanked contributors and they have also announced that NEO MainNet has been in operation for over one year.

Image Source: Crypto-Economy