Neutron’s proposal for ICS is officially live and on-chain. If all goes according to plan the general purpose DeFi chain will launch in the middle of May. This is a big catalyst not just for the Hub but also to start getting more liquidity flowing throughout the ecosystem.
As a reminder the Hub will receive
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25% of transaction and MEV income on Neutron
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7% of supply in an airdrop
The first week of launch will have Neutron completing its airdrop, opening up auctions for NTRN/ATOM and NTRN/USDC pools and finally the lockdrop if users want to lock up these LPs for a set amount of time for higher rewards. The original auctions are for price discovery of NTRN and the lockdrop gives LPs the option to commit for up to a year for a share of 10M NTRN.
Details:
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40,000,000 NTRN tokens, or 4% of the total supply, will be allocated to accounts with over 1 ATOM staked on Block #12900000 (2022–11–19)
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30,000,000 NTRN tokens, or 3% of the total supply, will be allocated to accounts that voted on Prop 72, regardless of their vote (Yes, No, Abstain, or NoWithVeto) and whether they voted directly or through their validator.
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The second stage will focus on bootstrapping two liquidity pools (NTRN-ATOM and NTRN-USDC) over 5 days with 40,000,000 NTRN tokens drawn from the genesis file.
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In the third, three-days-long stage, the lockdrop, participants may compete for an additional 10,000,000 NTRN tokens by locking up LP tokens from the second phase for up to a year.
