Neutron allows developers to build cross-chain applications over Inter-Blockchain Communication Protocol (IBC) and provides DeFi dApps with the full economic security of the Cosmos Hub.
NTRN is Neutron's native token. The current use cases for NTRN include:
Network Fees: Pay for transaction fees on the network.
Governance: NTRN token holders control the network parameters and treasury through governance.
DeFi: NTRN can be used throughout its DeFi ecosystem as liquidity, collateral and reward token.
The protocol consists of the following major components working in conjunction:
Replicated Security: a mechanism that allows ATOM staked on the Cosmos Hub, to also secure the Neutron network via IBC.
Cosmos SDK Blockchain: a framework for building sovereign blockchains. Neutron implements a variety of custom modules to empower smart-contracts to build cross-chain applications.
Interchain Queries Module: allows smart-contracts to retrieve data from other blockchains permissionlessly.
Interchain Transaction Module: allows smart-contracts to register and control accounts on other blockchains, execute transactions, track their status and execute callbacks.
CRON Module: allows governance to register arbitrary messages to be executed at regular block intervals.
IBC Protocol: the Inter-Blockchain Communication protocol is a standardized interoperability protocol used to connect an expanding ecosystem of more than 50 blockchains.
CosmWasm: a high-performance WASM virtual machine for secure Rust smart-contracts.
Tendermint: a scalable Byzantine Fault Tolerant consensus protocol.
The project has closed a 10MM USD seed round led by Binance Labs and co-led by Coinfund, in which approximately 11.00% of the NTRN total token supply was sold at 0.09 USD / NTRN.
As of October 10th, 2023, the total supply of NTRN is 1,000,000,000 and the circulating supply upon listing will be roughly 217,112,292 (~21.70% of the total token supply).
Key metrics (as at October 10th 2023)
1. What is Neutron?
Neutron is the first blockchain secured by Interchain Security.
Neutron allows developers to build cross-chain applications that can scale over a network of 50+ interconnected blockchains over IBC.
Neutron strives to provide the best platform for developers to easily build secure, scalable cross-chain DeFi applications.
1.1 Neutron's Value Proposition
Security: Neutron provides applications with a higher degree of security at a lower cost through Interchain Security. CosmWasm, its virtual machine, prevents most attack vectors commonly used against Solidity smart-contracts.
Cross-chain interoperability: smart-contracts applications can trustlessly and securely own accounts on other blockchains, execute transactions, receive acknowledgements and execute callbacks, as well as retrieve data from other blockchains.
Reduced overhead: CosmWasm developers benefit from standardized tooling, an established compiler and numerous libraries for Rust, a secure and high performance programming language widely used outside of web3.
1.2 Neutron's Key Highlights
Interchain Queries: Neutron is bringing customizable Interchain Queries to smart contract developers. Interchain Queries (aka ICQs) are an essential building block enabling devs to securely retrieve data from remote zones.
Interchain Transactions: Neutron is bringing interchain accounts (ICA) to CosmWasm smart-contracts. ICAs allow modules and smart contracts to execute and track transactions on foreign zones, without deploying additional code. With ICQs, they're the Interchain's secret DeFi sauce.
CRON Module: Cron module implements a mechanism to add cron schedules through governance proposals to execute arbitrary cosmwasm messages within a given period.
Tokenfactory: a module that allows smart-contracts to mint native denominations instead of cw-721 tokens.
IBC Hooks: a module that allows token transfers over IBC to trigger contract calls.
Packet Forwarding: a module that allows routing of multi-hop IBC transfers.
Modular governance: Neutron’s governance system is multi-layered and modular. It supports advanced features such as voting vaults, multiple voting mechanisms and in-protocol subDAOs.
2. Token sales and economics
2.1 Token Distribution
NTRN token allocation
NTRN token release schedule
Disclaimer:
Treasury (27%) is liquid and controlled by governance. 10% of the supply was voted to be transferred to Foundation.
Reserve (24%) will unlocked based on onchain activities: the more activity the faster the tokens vest and vice versa.
3. Roadmap and Updates
3.1 Completed Milestones
3.2 Commercial and Business Development Progress
Lido: Lido contributors published a framework for bringing the liquid staking protocol to Cosmos via Neutron.
AEZ Accelerator: Neutron partners with LonghashX and ATOM Accelerator DAO to launch the AEZ Accelerator: The 12-week, two-track program will pioneer venture building for early-stage applications built on Neutron and Cosmos Partner Chains.
Delphi Labs Hackathon: $50K of prizes were awarded to 6 teams building on Neutron during the Delphi Hackathon, the best of which may be selected to join the Delphi Accelerator program.
4. Community
5. Appendix