12. June 2023
Contract Migration and Ticker Change
Neatio’s NEAT Token: Smart Contract Address Migration on the Binance Smart Chain network and new Neatio ticker “NIO”
▸ New wrapped NIO contract address:
In the ever-evolving world of cryptocurrency, projects often undergo updates and improvements to enhance their functionality and user experience. Neatio, a promising platform, is set to migrate its token “NEAT” to a new smart contract address on the Binance Smart Chain. This migration aims to remove the proxy admin contract and also change the token ticker to “NIO”, a more appropiate one for the Neatio name which for those of you who didn’t knew, the name Neatio is composed from “Neat” + “input output”, so we think “NIO” is the way to go. Neatio is providing greater transparency and security for NIO holders. Additionally, the new contract introduces a revised token distribution strategy that aligns with Neatio’s mainnet inflation model. Let’s delve deeper into the details of this migration and the exciting changes it brings.
▸ Removing the Proxy Admin Contract
Neatio recognizes the importance of decentralization and security in the cryptocurrency ecosystem. By migrating to a new smart contract address on the Binance Smart Chain, Neatio eliminates the proxy admin contract, which previously had control over token management. This move ensures that NIO holders have complete ownership and control over their tokens, reducing the risk of any malicious activities and enhancing transparency.
▸ Revised Token Distribution Strategy
The new NIO token contract implements an updated token distribution model that better aligns with Neatio’s mainnet inflation. Under this revised strategy, a total of 50 million NIO tokens will be pre-minted. However, only 8,336,425 tokens will be in circulation initially, while the remaining tokens, up to the 50 million mark, will be vested and released gradually over time.
▸ Mainnet Inflation Mimicked
To replicate the inflation model of Neatio’s mainnet, the new contract will release 2,964,759 NIO tokens per year from the vesting pool. This measured release ensures a controlled and sustainable token supply, promoting stability and preventing sudden market fluctuations.
▸ Benefits for NIO Holders
The migration to the new smart contract brings several advantages for NIO holders:
Increased Security: By removing the proxy admin contract, NIO holders gain greater control over their tokens, reducing the risk of unauthorized manipulation and enhancing security.
Transparent Governance: The elimination of the proxy admin contract ensures transparent governance, where token holders can actively participate in decision-making processes related to the Neatio ecosystem.
Controlled Token Supply: The revised token distribution strategy aligns with the Neatio mainnet inflation model, enabling a measured release of tokens. This controlled supply helps maintain price stability and ensures a fair distribution of NIO tokens.
Neatio’s migration of the NIO token to a new smart contract address on the Binance Smart Chain signifies the project’s commitment to security, transparency, and aligning with its mainnet inflation model. By removing the proxy admin contract and implementing a revised token distribution strategy, NIO holders are empowered with greater control over their assets and can participate actively in the governance of the Neatio ecosystem. This migration lays a solid foundation for Neatio’s future growth and opens up exciting opportunities for its community members.
Disclaimer: This blog post is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency investments are subject to market risks, and readers should conduct their own research before making any investment decisions.
– Neatio Team –