Author Topic: Neo; fractional amounts, where do they go?  (Read 1916 times)

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Offline abit

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Offline kwacorn

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I wanted to transfer the 1.1 open.Neo I had in my Bitshares account to my Neon wallet. This being my first ever transfer of Neo I wanted to be cautious and sent 0.2 Neo via Openledger, being unaware at that time that Neo has to be transferred in whole number units; neither my Bitshares account, Openledger or the Neon wallet warned me about this.

Obviously the 0.2 never arrived in my Neon wallet but the Neo in my Bitshares account was reduced to 0.9 Neo.
Hence my question is where do the fractional units of Neo go?

Reading this web page, dated 28 February 2018, states:
Coin fractions at exchanges. How do they do it?
Exchanges are currently trying to figure a way around the problem of NEO being indivisible. The answer they have might not be the best one but it’s the best we have: You’ll be allowed to trade fractions of NEO as long as you keep them inside your exchange wallet. If you transfer them to your NEO wallet, those fractions will remain on the exchange and won’t be moved to your private wallet.

For example, you are not technically allowed to own 5.32 NEO. You either have 5 NEO or 6. But exchanges will let you exchange BTC for 5.32 NEO without issue. If you keep those 5.32 NEO in your exchange wallet, you should have no problem exchanging them for another cryptocurrency. However, if you transfer the 5.32 NEO you own to your actual NEO wallet, you will end up with 5 NEO, and the 0.32 NEO will stay on the exchange.

In view of that comment, should the 0.2 Neo have remained in my Bitshares account?
Should this have been enabled programmatically but has been overlooked?
Can I recover my 0.2 Neo?

Any feedback would be appreciated. Thanks.