NEO, formerly known as Xiao Yi, is an early public link project in China, billed as China's version of Ethereum. NEO is a distributed network that utilizes blockchain technology and digital identity to digitize assets and automate the management of digital assets through smart contracts to achieve a "smart economy." To put it simply, it is to digitize the assets of the physical world and transfer them to the blockchain. It is mainly used for the registration, management and circulation of the company's equity, which can be used in the fields of equity registration, equity incentive, equity crowdfunding, creditor's rights transfer, securities trading and so on. It is an equity transfer and trading system based on blockchain technology.

NEO's underlying layer is based on blockchain technology, and its equity database is not controlled and maintained by a centralized company, but jointly maintained by all NEO participants. Activities such as equity issuance and trading in NEO are performed by and directly by users, without the need for a third party.

There are currently more than 30 Dapps running on the Neo network, 11 of which are games, such as DeFi platform Flamingo, decentralized exchange Switcheo, Nash, Wallet O3, NeoLine, and asset tokenization platform Liquefy.