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

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This has been a difficult path for Neo-investors in recent years, especially as China has gradually begun to introduce stricter cryptocurrency regulations that apply to what some call “Chinese Ethereum.” But despite the controversy, the community appears to be resilient: a dedicated community of developers around the world and the Burgundy Decentralized Finance Center, or DeFi, have emerged since the launch of the Neo N3 mainnet last year.

He also told new investors Lucas and Jiri, who spoke to Cointelegraph, that they did not expect such a “significant price drop” for Neo. However, they decided to keep their Neo tokens under all the price turmoil, citing the project developers’ commitment to core technology. Lucas sa:

“I know a bunch of new developer environments around the world. They do not want to stop a project just because one country does not agree with their vision. ”
Asked why Neo DeFi applications are particularly attractive compared to other alternatives, Jiří said:

“When it comes to Flamingo Finance, you can follow every step of the roadmap they put together and what happens next. They always met deadlines, or there were some reasonable reasons for the delay. That’s why I really like the openness of the platform development process.”
Flamingo Finance is a platform for converting cryptocurrencies, generating profits and liquidity. The project switched to the Neo N3 in the fourth quarter of 2021. According to DeFi Llama, Flamingo Finance’s total closed value is around 80 million dollars. Lucas, who is also a Flamingo Finance user, added:

“They really focused on their user base. They launched a feature a while back where you can claim different DeFi pools. I asked the team for a ‘Get It All’ button so I do not have to spend time clicking on different groups to get rewards. Within a few days, this feature was implemented. ”
On Monday, New also announced a partnership with the EU’s socio-economic network Desis, which has a support network of 90,000 organizations and 1.2 million workers in 21 countries. Through the agreement, Neo will help the latter to develop blockchain solutions using NeoID for decentralized file storage in the Neo N3 ecosystem. Luca Pastorelli, President of the Diesis Network commented:

“Neo pioneered the dBFT [Byzantine Delegate for Fault] consensus mechanism, so there is no mining on Neo. The fact that N3 has extensive development experience makes it an ideal blockchain partner for a global network of social and solidarity-based economy.”

Source: CoinTelegraph

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