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NEO co-founder Zhang Zhengwen announces NEO governance structure and financial status, and decides to return to mainnet managementPANews, January 1st – In response to the recent incident where NEO’s two co-founders, Da Hongfei and Erik Zhang, accused each other of monopolizing financial power and lacking transparency, Erik Zhang told PANews that he will return to the Neo mainnet to take full management and defend the core interests of NEO/GAS holders. At the same time, he disclosed the current NEO governance structure and the status of managed accounts: On-chain Transparent Assets (NEO/GAS): Protocol-level Transparency: Currently, the vast majority of NEO and GAS assets held by the Neo Foundation are publicly distributed across 21 initial node addresses and 1 multi-signature wallet. These addresses are the cornerstone of the Neo protocol’s operation, and the global community can audit them in real time at any moment. Asset Flow Explanation: Previously, during the period when Da Hongfei requested Erik to withdraw from foundation management, about 8 million NEO/GAS tokens were transferred to several multi-signature addresses designated by Da Hongfei at his request. Internal Payment Standard Operating Procedure (SOP): To ensure compliance in the use of core assets, a strict four-step process has always been followed: (1) NGD submits a budget application; (2) Da Hongfei approves it; (3) Erik is responsible for technical execution of the payment; (4) Finance records the transaction. This process exists to ensure procedural justice for every core expenditure. Non-transparent Assets (Risks of Non-NEO/GAS Assets): Single-person Control: Apart from the transparent NEO/GAS assets mentioned above, all auxiliary assets held by the Neo Foundation (including but not limited to BTC, ETH, and other ecosystem project tokens) are currently under the personal control of Da Hongfei. Lack of Audit: Erik Zhang stated that these assets have long been in a “black box” state, and Da Hongfei has yet to provide any verifiable financial statements, asset lists, or audit certificates. Previously, Erik Zhang stated on the X platform that Da Hongfei decided to use Neo Foundation (NF) resources and funds to launch an independent new project, EON, and issue a new token. Erik Zhang believes this move presents a significant conflict of interest, not only diluting the value of the Neo ecosystem but also directly causing the diversion of Neo mainnet resources. Related reading: Da Hongfei and Erik Zhang accuse each other of monopolizing financial power and lacking transparency. The Neo Foundation states that the founders’ dispute will not affect the daily operations of the Foundation and NGD, and the financial report will be released in Q1.