If you participate in an ICO form your NEON Wallet sending NEO, will the ICO Token be send and kept in the NEON Wallet, like for ERC20 ones on Ethereum? Or how does it work?
It all depends on the design of the ICO, Some might combine other coins like BTC, Eth or Waves and others while some might choose to use only NEO, For the Red Pulse ICO i think they specifically said only NEO would be accepted they also suggested people can use Neon wallet which means you get sent your RPX Tokens to the address you sent/Contributed NEO from.