01 Project Brief
NEOPIN is a one-stop, non-custodial CeDeFi protocol for the secure use of cryptocurrencies within a regulatory framework, offering the benefits of both CeFi and DeFi. NEOPIN provides a range of DeFi services, including staking, exchange and liquidity mining of various cryptocurrencies.
Official website: https://neopin.io/
Twitter: https://twitter.com/NeopinOfficial
02 Project design
Product background
Neowiz, the parent company of NEOPIN, is the largest gaming company in South Korea. Since 2018, NEOPIN has become an active node validator on more than 20 blockchain networks, including Ethereum, Cosmos, Klaytn GovernanceCouncil (GC), Tron Super Members (SR), Finschia Governance Member (GM), etc. NEOPIN holds 15 voting rights in Klaytn, accounting for approximately 7% of the total 216 voting rights held by all Klaytn Genesis GC members. In addition, NEOPIN holds approximately 11.75% of Finschia’s governance voting rights. For many years, NEOPIN has been a Proof of Stake (PoS) validator with a 0% slashing and incident rate and a block production rate of over 99.99%.
Currently, NEOPIN is the DeFi project with the largest transaction volume on the Klaytn chain, with assets under management reaching US$130 million. In February this year, the Klaytn<>Finschia mainnet merger proposal (KGP-25) jointly initiated by the Klaytn Foundation and the Finschia Foundation was approved. It will create the largest Web3 ecosystem in Asia, Project Dragon Token (PDT), and plans to launch a unified Mainnet. The strategy has achieved early success, with NEOPIN total value locked (TVL) soaring to $11.7 million in a single month (February 2024).
NEOPIN team members are located in Abu Dhabi, United Arab Emirates and Seoul, South Korea. Last year NEOPIN was selected to join the innovation program of the Abu Dhabi Investment Office (ADIO), which operates the United Arab Emirates’ sovereign wealth fund and attracts direct and indirect investments. NEOPIN is also partnering with Abu Dhabi Global Market (ADGM) to develop the world’s first DeFi regulatory framework through public-private collaboration.
product structure
NEOPIN's products are mainly divided into four components, Liquidity Pool (Pool), Decentralized Exchange (Swap), Stake, and Cross-Chain Bridge (Bridge).
NEOPIN's EVM Bridge and Finschia Bridge enable users to interact with various blockchain networks, while the liquidity pool greatly enhances liquidity and promotes the prosperity of the Klaytn and NEOPIN ecosystems. In addition, to improve user accessibility, NEOPIN has expanded support for external wallets and strengthened bridge security to provide users with a more secure DeFi environment.
The NEOPIN economic system connects various encrypted financial services such as P2E, S2E, M2E, and NFT. Both users and liquidity providers (LP) can benefit from NPT. Users can provide virtual assets or NPT to enter the liquidity pool on NEOPIN, generate transaction fees and contribute to the development of the NEOPIN ecosystem and the value of NPT.
The NPT economy aims to reward users based on their contributions to the NEOPIN ecosystem. In addition, NEOPIN distributes most of the rewards to users by establishing a sustainable token economy.
NEOPIN CLUB MEMBERSHIP
NEOPIN Club members can earn points by staking or pool deposits, and receive up to 3% APR boost when staking KLAY, FNSA, and TRX. In addition, members have event and airdrop privileges, can increase their chances of winning sweepstakes, and join an exclusive Discord channel to get exclusive news and event information.
Latest roadmap
NEOPIN’s 2024 roadmap focuses on launching a variety of products, connecting with more users, and introducing additional services to expand the protocol for mass adoption.
Q1 2024: Add support for major crypto assets, launch the first DEX and provide nFNSA/KLAY YF mining pool, launch NEOPIN membership program, launch RWA Earn products based on NEOPIN protocol, launch multi-chain asset earning products, etc.
Q2 2024: Launch PDT staking products and governance voting protocols, launch PDT token migration, add support for new blockchain ecosystems, expand PoS staking products, etc.
Q3 2024: Added Dex aggregator integration, support for competing PoS Stake products, launch of simple income products based on RWA, and provision of income products based on complex derivatives yield improvement protocols, etc.
Q4 2024: Add support for new PoS Stake products, expand the RWA-based income product portfolio, expand derivatives yield improvement protocol products, etc. At the same time, the NIP-01 automatic redistribution mechanism is activated to reduce the circulating supply of NPT.
04 Token information
NPT is the main economic medium for exchange and rewards within the NEOPIN ecosystem, with a total issuance of 1 billion. NPT clearly defines participants’ contributions to the ecosystem and provides relevant rewards to contributors.
Ecosystem (50%): Create initial tokens, liquidity pools, and provide staking rewards, mining rewards, and service rewards.
Team Operations (15%): Incentivize project teams and distribute based on individual contributions to the ecosystem.
Partners (18%): Increase adoption by forming new partnerships and developing new services.
Reserve (10%): Expand the ecosystem beyond allocated use.
Marketing (5%): Promotion and marketing expenses for the NEOPIN project to increase the number of participants.
Investors (2%): allocated to early investors, lock-up period varies based on round.
According to the Coinmarketcap website, the fully diluted market value (FDV) of $NPT is approximately US$730 million. Currently, 8.61% of the total supply has been unlocked, and the circulating market value is approximately US$63 million. $NPT has been listed on Bithumb, Gate.io, HTX, MEXC, Bitget, Coinone, Gopax, Korbit, Indodax, Probit and other exchanges. https://coinmarketcap.com/currencies/neopin/
05 Project Summary
What sets NEOPIN apart from its competitors is its regulatory-compliant nature and its ability to fully decentralize and on-chain all financial services through a built-in non-custodial wallet. NEOPIN fully leverages the advantages of traditional finance and DeFi, providing all participants with secure access to NEOPIN decentralized financial products through a two-step verification KYC/AML process, including non-custodial wallets and various staking, mining and Derivatives.
In addition, thanks to the support of Kakao and Line, two major technology giants in South Korea and Japan, Klaytn and Finschia merged into the Project Dragon mainnet, organically combining the two ecosystems and assets to build an Asian giant blockchain, leading Web3 Market development in Asia.
