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Binance joins Neo Council, 2.1 million NEO used to secure two Top 21 positions

Binance Staking has secured two positions on the Neo Council. At the time of press, Binance has voted with approximately 2.1 million NEO to secure its places in the Top 21. Binance is the world's largest custodial exchange with nearly US $9.07 billion in 24-hour volume, according to CoinCap.io. Binance Staking is a service that allows users to earn distributions offered on proof-of-stake or other networks that distribute rewards to participants. The platform provides two types of staking: flexible and locked. Flexible staking offers fewer rewards but allows users to move the underlying assets at any time. Locked staking requires users to deposit a token for a specific time frame but provides higher yields. For example, a minimum of 0.01 NEO locked for 15, 30, 60, or 120 days will earn increasing yields of 5.79%, 7.49%, 8.79%, and 13.56% (made in GAS distributions), respectively. In the announcement post, Neo Global Development said "Binance Staking's new membership in the ...
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GrantShares DAO launching to support ecosystem growth and grassroots initiatives



The GrantShares DAO is launching on Neo N3 to distribute funding to grassroots developers and ecosystem beneficial projects. The DAO will manage an initial treasury funded by the Neo Foundation.

As the first DAO to launch on Neo N3, GrantShares is designed to provide financial support to smaller initiatives that do not currently fit the scope of Neo's existing grant programs. Voting members of the organization include COZ, AxLabs, Red4Sec, NGD Enterprise, NeoResearch, NEXT, Neo SPCC, Neo Foundation, Neo Global Development, and Neo News Today.

Anyone is encouraged to submit a proposal for the members of the DAO to discuss and vote.

The initial funding limit for GrantShares is $50,000 per proposal, and can be used to fund local events, dApps, developer tools, education initiatives, and more. Projects seeking larger amounts should apply for grants through one of Neo's Eco Support tracks.

The DAO's smart contracts are developed and maintained by AxLabs and have already been deployed to the Neo MainNet. In the coming weeks, AxLabs aims to release the accompanying dApp for applicants to submit proposals. The dApp will create an issue in the GrantShares repository where DAO members can discuss the potential grantee's proposal before voting.

In addition to distributing funding, AxLabs designed the GrantShares smart contracts to serve as a reference implementation for other N3 developers. The DAO contracts are open-source on the GrantShares repository.

The GrantShares dApp is tentatively expected to launch in mid-April 2022.

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