Neo customers point to why they’ve held on to the challenge despite China’s heavy crypto crackdown

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“I didn’t fright too phenomenal. I knew the developer team, the neighborhood supporting Neo wasn’t going to stop,” acknowledged Neo investor Lucas.

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Neo users explain why they've held on to the project despite China's heavy crypto crackdown

It be been a wild race for Neo (dubbed by some as “Ethereum of China”) investors in the previous few years, in particular as China began to incrementally introduce harsher crypto rules. But despite the odds, the neighborhood looks to be resilient, with a staunch society of builders worldwide and a bourgeoning decentralized finance, or DeFi, hub that got here into prominence by the start of Neo N3 mainnet final year. 

As urged by Neo investors Lucas and Jiří, who spoke to Cointelegraph, they had been now not waiting for the kind of “huge tumble in trace” for Neo. Silent, they on the opposite hand decided to protect their Neo tokens by the total worth turmoil, citing the challenge builders’ dedication to its underlying technology. Lucas acknowledged:

“I know a bunch of Neo developer communities which might perchance perchance perchance be positioned all around the world. They aren’t going to pause the challenge simply as a consequence of 1 nation doesn’t have confidence their vision.”

When requested about what made Neo’s DeFi functions in particular pretty, compared to other alternate strategies, Jiří acknowledged:

“For Flamingo Finance, that it is probably going you’ll practice any steps on the roadmap they are making ready and what’s going to be going subsequent. They always kept the chop-off dates, or there used to be some cheap justification for a lengthen. So I love the transparency of the arrangement of how the platform used to be evolving.”

Flamingo Finance is a platform for converting crypto, incomes yields, and offering liquidity. The challenge migrated to Neo N3 in Q4 of 2021. According to DeFi Llama, Flamingo Finance has approximately $80 million in total worth locked. Lucas, who is additionally a person of Flamingo Finance, added: 

“They if truth be told serious about their on their person wicked. Some time ago, they launched a characteristic where that it is probably going you’ll claim diversified DeFi swimming pools. I requested the team for a “claim all” button in convey that I abolish now not must employ time clicking the diversified swimming pools to articulate rewards. Within a couple of days, that characteristic used to be implemented.”

On Monday, Neo additionally introduced a partnership with E.U. social economic system community Diesis, which has a toughen community of 90,000 organizations, and 1.2 million workers all over 21 international locations. Through the deal, Neo will again the latter produce blockchain strategies the usage of Neo N3 ecosystem’s decentralized file storage, NeoID. Luca Pastorelli, President of Diesis Community, commented:

“Neo pioneered the dBFT [delegated Byzantine Fault Tolerance] consensus mechanism, so there is just not any such thing as a mining on Neo. And N3 being an all-in-one vogue trip makes it the helpful blockchain accomplice for a world social and team spirit economic system community.”