For years now (or what can seem like decades in crypto) Neos has gone through different stages of development and resting periods. Since the inception of Neos we've had the same goal in mind which was to build something unique and useful, a decentralized environment of sorts on the blockchain that would enable people to securely and reliably host their creative works and share them. With more widespread use and popularity also comes criticism and analysis by various groups of supporters, government agencies and businesses alike. This is good for the growth of blockchain and crypto overall, but some aspects of it can prove difficult for some of the smaller projects such as ours.
In effort to expand the team and fund continued development, we were going to use the budget proposal system found in Dash-based projects such as PIVX. It has come to our attention in the recent weeks that it's not necessarily smiled upon that any team members or administrators of the project own Neos as it could potentially push Neos outside of regulatory bounds. We have worked very hard behind the scenes to maintain our positions on exchanges, supporting the community to the best of our ability and working on the code for V3 for the past year, but as long-time followers and supporters in the community know it hasn't been an easy wait. Essentially without the ability to self-fund, we're still in the same position we've been in - a team of volunteers who may or may not be able to commit as much time as we'd like to our purpose.
However, that doesn't mean we need to throw in the towel completely. We have received quite a few offers from folks within the community to volunteer their time and resources to press forward. Neos was meant to be, and will be, something that the community can rely on and something that has use other than just another project in this ever-growing sea of altcoins. That being said, we're going to continue without funding - until it's clear as to whether or not we can make use of the built-in budget system in this new release. We'll be using our time voluntarily to work on this and welcome all that can and want to assist.
On July 5th, 2018 - the Neos wallets will be shut down on Bittrex. They have been disabled on Poloniex for sometime, and we unfortunately have not received a response yet from them. That being said - no deposits or withdrawals are able to take place on Poloniex regardless and we will be sending them notice of our updates so that they can - when able to - upgrade their wallets.
We have been developing V3 on a much newer and much more stable base. That being said, it would be much less complicated work and far more beneficial to continue working with the new base instead of trying to backport code to suit an older one - as well as much cleaner. All wallets will be credited in a 1:1 manner. If you have Neos on Bittrex, you can freely leave it there and no other actions are required. If you have Neos in your own wallet, you will need to dump (export) your wallet into a dump file and import into the new wallet once it's released. Your addresses will remain the same. It is important that on July 5, 2018 you do not send Neos as it could lead to potential loss as that is the date the snapshot is being taken. We will coordinate with Bittrex and hopefully receive word back from Poloniex to verify all balances post-snapshot are accurate with the wallet addresses they own. Once all verified, Bittrex will re-enable their wallets. The reward schedule will pick up where it left off.
We will be running several wallets for staking and masternodes with the addresses made public which will be burned after to start the new chain. All rewards and balances will be burned once community wallets begin staking and secure the network by themselves. This only serves the purpose of ensuring the network is stable and secure during the early stage of it.
If anyone needs help, we're available primarily through https://help.neos.sh and telegram (https://t.me/getneos). We're going to begin revising existing beta code and the approach we were using for storage methods and hopefully within the near future begin pushing new commits to the base that we can gradually improve upon rather than building the release in private, testing publicly and then finally releasing (our old method).
Thank you all for your continued support, without it we wouldn't be here.