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

It's been a wild ride for Neo (dubbed by immoderate arsenic "Ethereum of China") investors successful the past fewer years, particularly arsenic China began to incrementally present harsher crypto regulations. But contempt the odds, the assemblage appears to beryllium resilient, with a dedicated nine of developers worldwide and a bourgeoning decentralized finance, oregon DeFi, hub that came into prominence via the motorboat of Neo N3 mainnet past year. 

As told by Neo investors Lucas and Jiří, who spoke to Cointelegraph, they were not expecting specified a "huge driblet successful price" for Neo. Still, they nevertheless decided to clasp their Neo tokens done each the terms turmoil, citing the task developers' dedication to its underlying technology. Lucas said:

"I cognize a clump of Neo developer communities that are located crossed the world. They're not going to halt the task conscionable due to the fact that 1 state doesn't hold with their vision."

When asked astir what made Neo's DeFi applications peculiarly attractive, compared to different alternatives, Jiří said:

"For Flamingo Finance, you could travel immoderate steps connected the roadmap they are preparing and what volition beryllium going next. They ever kept the deadlines, oregon determination was immoderate tenable justification for a delay. So I truly similar the transparency of the process of however the level was evolving."

Flamingo Finance is simply a level for converting crypto, earning yields, and providing liquidity. The task migrated to Neo N3 successful Q4 of 2021. According to DeFi Llama, Flamingo Finance has astir $80 cardinal successful full worth locked. Lucas, who is besides a idiosyncratic of Flamingo Finance, added: 

"They truly focused connected their connected their idiosyncratic base. A portion ago, they released a diagnostic wherever you could assertion antithetic DeFi pools. I asked the squad for a "claim all" fastener truthful that I don't person to walk clip clicking the antithetic pools to assertion rewards. Within a fewer days, that diagnostic was implemented."

On Monday, Neo besides announced a concern with E.U. societal system web Diesis, which has a enactment web of 90,000 organizations, and 1.2 cardinal workers crossed 21 countries. Through the deal, Neo volition assistance the second make blockchain solutions utilizing Neo N3 ecosystem's decentralized record storage, NeoID. Luca Pastorelli, President of Diesis Network, commented:

"Neo pioneered the dBFT [delegated Byzantine Fault Tolerance] statement mechanism, truthful determination is nary mining connected Neo. And N3 being an all-in-one improvement acquisition makes it the perfect blockchain spouse for a planetary societal and solidarity system network."