Neon Meta Exchange (NEX) is an upcoming ICO on the NEO platform. It was announced in October 2017. Developed by City of Zion, it offers a platform for the creation of payment solutions and decentralised exchanges on NEO. NEX is built on a new protocol developed within the NEO ecosystem. It will have a reference exchange application for easier integration with the exchanges and payment services that developers build.
The NEX token sale is expected to take place in April 2018 though no specific date has been confirmed as yet. Before the token sale begins, two lotteries will be conducted among all registered users. This is in order to select participants for the token sale.
The token sale will feature two rounds of sales for fairer distribution. Round 1 of the token sale will take place in April 2018 and last approximately 1 day. If all of the NEX tokens are not sold after the first round, the second round will be open to the original lottery winners. Round 2 will last for 2 additional days or until all of the NEX tokens are sold. Round 1 has a maximum contribution of $1,000 per person and round 2 has a maximum contribution of $9,000 per person.
It will be open-sourced and have an MIT license. This legal framework has been developed by the NEO Council. It will allow the running of ICOs that are legally compliant. The max supply is 50 million with the ICO sale amount being 25 million. The price for both rounds will be $1 per 1 NEX.
- Q4 2017: Smart Contract Examples
- Q1 2018: Token Sale and Open Source Platform Launch
- Q2 2018: Payment Service Launch
- Q3 2018: Trading MVP Release
- Q4 2018: Cross-chain Launch and Margin Trading
- TBA: Decentralised Banking