'Keep NEO One!' Investors Protest a Proposal to Make Crypto Coins Divisible

More specifically, a Github proposal to change the structure of the NEO token - one of two tokens native to the network - has the project's token holders up in arms.

Authored by neo co-founder Erik Zhang, the post ideates a new economic model for the upcoming version of the neo software, one the developer team hopes will better incentivize active participation in the network, but that will also see the NEO token become divisible.

According to Hongfei, the NEO token is currently indivisible for technical reasons that relate to its twin token model.

Because GAS is currently redistributed to all token holders proportionally to their NEO holding ratio, Hongfei says NEO cannot be divisible.

"We need incentives for NEO token holders to vote for neo consensus nodes," he said.

In the model proposed for neo 3.0, GAS would be sent to a pool instead of being immediately redistributed to all token holders.

"The price of one NEO token is about $30, that's not really a lot of money. I don't think people really need to vote like a fraction of $30.".

Despite the impact the proposal could have on investors' token holdings, their capacity to influence the design of neo 3.0 is limited.

While Hongfei said that plans to alter the platform are still "Under discussion, nothing is all set," neo does not intend to allow token holders to vote on the proposed changes.

"If there is to be voting in neo, wouldn't voting on something as substantial as making NEO divisible make sense? Why don't they create a voting contract to allow people to vote on it? Otherwise, it's just a totalitarian decision anyway, and anything that follows is suspect."