NEO Co-Founder Erik Zhang Announces Governance and Financial Transparency Measures

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NEO co-founder Erik Zhang has outlined governance token distribution and financial transparency reforms, emphasizing decentralized governance for the Neo network. Zhang announced his return to manage the mainnet, accusing co-founder Da Hongfei of centralizing control. He revealed that most Neo Foundation assets are held in 21 node addresses and one multisig wallet. Zhang also claimed 8 million NEO/GAS tokens were moved during his temporary removal, with other assets like BTC and ETH reportedly under Da Hongfei's control without audits.

Odaily Planet News: Erik Zhang and Da Hongfei, two of the core founders of NEO, have accused each other of financial control and lack of transparency. In response, Erik Zhang announced his return to the Neo mainnet for full management, vowing to protect the core interests of NEO/GAS holders. At the same time, Erik Zhang disclosed the current governance structure of NEO and the financial status of its management.

Zhang Zhengwen stated that currently, the vast majority of the NEO and GAS assets held by the Neo Foundation are publicly distributed across 21 initial node addresses and one multi-signature wallet. Previously, during the period when Da Hongfei requested him to step down from the Foundation's management, approximately 8 million NEO/GAS tokens were transferred to multiple multi-signature addresses specified by Da Hongfei, as requested by him. In addition to the above transparently disclosed NEO/GAS assets, all of the Foundation's auxiliary assets (including but not limited to BTC, ETH, and other ecosystem project tokens) are currently under Da Hongfei's personal control. Zhang Zhengwen claimed that these assets have remained in a "black box" for years, and Da Hongfei has yet to provide any verifiable financial statements, asset lists, or audit proofs.

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