Da Hongfei, Neo co-founder and CEO of Neo World Improvement, disclosed that two audit corporations have verbally agreed to conduct a monetary audit or due diligence report on Neo’s treasury, with a minimum of one anticipated to be secured by the top of March. The announcement got here throughout a stay AMA on X Reside on March 4, his first public look following the simultaneous launch of Neo’s FY2025 monetary report and an AI technique article outlining Neo X’s agent-native blockchain imaginative and prescient.
The AMA, moderated by Rachel Wolfson of the Deep Dive podcast, featured panelists Kyle Chassé of Grasp Ventures and Dennis Liu, the YouTuber often known as VirtualBacon. Da fielded questions on treasury transparency, audit progress, governance reform, and Neo’s AI positioning, providing candid admissions alongside bold commitments.
Audit timeline and monetary report
The monetary report launched on March 3 was described by Da as a “preview”, revealed to get numbers to the group rapidly moderately than look forward to a totally verified model. Whereas the report discloses treasury composition and asset totals, not all pockets addresses are included and the figures stay provisional. A remaining model is anticipated inside two weeks and is anticipated to be “nearly the identical,” although Da acknowledged the numbers, info, and wording are nonetheless being rechecked.
The audit is deliberate to rework these self-reported figures into independently verified info. Da confirmed that Neo World Improvement is in late-stage negotiations with two corporations – one based mostly in Hong Kong, one headquartered in Europe – each approached earlier than the Chinese language New 12 months. He expects to safe a minimum of one by the top of March, with audit work to start instantly after signing.
He acknowledged the issue of participating auditors for crypto entities, noting that no main blockchain basis has revealed a totally audited monetary report:
“These audit companies, they’re reluctant to work with crypto foundations. And I did some analysis. I didn’t discover any main blockchain basis [with] audited full monetary report.”
Taking accountability
Requested concerning the group’s frustration with years of restricted communication, Da provided a direct acknowledgment of previous failures.
“I actually perceive the frustration from the Neo group. I take full accountability for the issues that we must always have executed higher. For instance the governance, decentralization or reform delay, the missed alternative in the course of the DeFi summer season and the dearth of communication to the communities. That’s my accountability.”
He described a interval the place Neo tried competing with different blockchains on pace, TVL, and on-chain transactions, a technique he stated led to “adverse suggestions” and paralysis. The shift to an AI-agent-native positioning, he stated, displays a lesson discovered from Neo’s earliest success.
Governance reform as prime precedence
Turning to governance, Da recognized reform as his most necessary goal for 2026, describing it as a multi-front problem spanning token custody, basis jurisdiction, and group illustration.
“Decentralization feels like the proper course to go and I consider that’s the proper course to go. However the devils are in particulars and there are nuances to resolve. It received’t be a straightforward job. Will probably be a problem for me. That’s my greatest KPI this 12 months 2026.”
Particular reforms outlined in the course of the AMA embody transitioning all token custody from single-signature to multi-signature wallets by the top of 2026, relocating the Neo Basis from Singapore to a jurisdiction extra favorable to crypto foundations, establishing clear multi-sig administration for over 1,100 BTC and greater than $100 million in money, and creating pathways for group members to take part in decision-making throughout the basis and NGD.
The dialog additionally addressed the potential for a second giveback program, with Da proposing to return 50% of Neo’s token provide to the group. The Neo Basis initially reserved 50% of the availability, and Da famous holdings have remained close to that stage even after 12 years of operations. He pointed to Neo’s liquid capital place of over US $200 million in Bitcoin and stablecoins as proof that the inspiration can function with out counting on its token holdings. Da described the thought as “one possibility” throughout the restructuring plan nonetheless being developed, with out offering specifics on mechanics or timeline.
The proposal would echo an earlier transfer Da described as a “first of its type in blockchain historical past” – a 2017 giveback program by which Neo repaid all seed spherical and ICO traders with out requiring them to return their tokens, leaving the inspiration operating fully by itself capital.
AI-native blockchain thesis
On the subject of Neo X’s AI technique, Da expanded on the reasoning behind the agent-native method, framing it as a deliberate break from competing on efficiency.
“Competing on efficiency or competing on new options are a useless finish. The present larger blockchains can all the time enhance, they’ll all the time adapt new options or efficiency. I feel to make one thing actually impactful, you can not compete with them at their very own sport, at their very own class. You’ll want to discover a blue sea.”
He drew a pointy distinction between blockchains constructed for people and people constructed for brokers, evaluating it to the distinction between Twitter and a running a blog platform. Each can publish textual content, however purpose-built structure creates a basically completely different product.
“Each time I make an enormous switch on-chain, I’m so nervous. I verify every part like a number of occasions,” Da stated, including that even after a decade of UX enchancment, the emergence of AI brokers might have “saved us from making these horrible errors doing transactions on chain.”
VirtualBacon provided a practitioner’s perspective on the thesis, noting that conventional SaaS platforms constructed round buttons and visible interfaces battle with AI integration, whereas agent-native platforms could be adopted “in a single immediate.”
Kyle Chase framed the timing as decisive: “Anybody who’s leaning into AI proper now closely goes to be forward of everyone else. The one possibility to maneuver ahead, whoever strikes first on utilizing brokers and utilizing brokers to construct, are going to be those who’re forward of the sport.”
Hong Kong positioning
Requested about NGD’s alternative of working base, Da described Hong Kong as a jurisdiction with accessible regulators and a recovering financial setting.
“Authorities officers and the legislators in Hong Kong are very right down to earth. I typically speak to them in particular person. Typically they even [ask] questions taking place within the business. So the communication is sort of a breeze. It’s very straightforward.”
He famous that after a interval of capital and expertise outflows following 2019, Hong Kong has begun to get better, with individuals and cash “shifting again” over the previous one to 2 years. Most NGD workers now maintain Hong Kong identification, and Da described the area’s expertise pool in engineering and finance as a big benefit.
Path ahead
Da positioned Neo’s present scenario as a deliberate reset moderately than a decline, citing a treasury that is still well-capitalized, a worldwide group, and a workforce executing on new technical course.
“Financially, Neo is at an excellent place to revive within the coming years. We now have $461 million in our treasury. Greater than $200 million are extremely liquid. So we’ve the sources and we even have the abilities. We now have the decision to maneuver ahead and transfer ahead quick.”
He described the second in characteristically direct phrases: “Now we’re rebooting, resetting the histories and we’re relaunching ourselves once more. I feel will probably be an incredible begin.”
The complete AMA could be discovered on the hyperlink beneath:
https://x.com/Rachelwolf00/standing/2029015477624705413?s=20
