Neo council outlines governance reforms and commitments following Centre Point #2
The Neo Council has published outcomes from its second Centre Point gathering, held in Singapore Sep. 27-29.
The three-day event focused on improving council performance, strengthening governance, and reducing barriers for developers and token holders. Centre Point is a community-led initiative with broad participation from council members.
Representatives from AxLabs, COZ, Everstake, Flamingo Finance, HashKey, InfStones, Neo Foundation, Neo Global Development, and Neo News Today took part, alongside other ecosystem contributors.
The Council shared its outcomes across two announcements; one dedicated towards tangible initiatives that are now underway, and another serving as a charter of commitments expected to be upheld by sitting members.
Network and governance changes
Council members and core developers agreed to prioritize a reduction in Neo N3 transaction fees, after several applications cited costs as a limiting factor for growth. The core team committed to implementing fee adjustments as soon as possible.
Other agreed changes include a new model for voting rewards. At present, NEO holders receive different GAS rewards depending on where their chosen candidate ranks inside or outside the top 21.
Rewards will instead be distributed evenly, removing the penalty for supporting candidates below the council threshold or for selecting an ideal preference. The change is intended to encourage fairer competition for council seats, though further review will be conducted to assess secondary effects.
The fee for registering as a council candidate will also be reduced from 1,000 GAS to 750 GAS. The measure, which can be enacted through on-chain council vote, is designed to improve accessibility for prospective participants.
The council also reviewed the MaxTraceableBlocks setting in the policy contract, which defines how many past blocks can be accessed by smart contracts. With the current MainNet limit of 2 million blocks requiring roughly 1.5 GB of storage on light nodes, lowering the value could ease storage demands. Because the parameter can only be reduced, not increased, further investigation is planned before making any adjustments.
A new governance platform was also announced. The platform will provide a centralized venue for proposals, voting, and council reporting, addressing the current fragmentation of activities across multiple organizations. Planned features include a forum, proposal and voting tools, sentiment indicators, candidate profiles, and council activity metrics.
Development will take place in the open, with updates and feedback coordinated through a dedicated channel on the official Neo Discord.
Commitments and values
The Commitments and Values statement establishes minimum standards of accountability and outlines six core commitments: active engagement in governance, transparent reporting, inclusivity, ecosystem advocacy, prioritizing Neo in products, and operating reliable infrastructure.
The statement also defines guiding values of stewardship, integrity, collaboration, accountability, and innovation.
Token holders are encouraged to evaluate council members against these commitments and use their empowered votes accordingly.
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