Cosmos Approves Transfer of 42.7 Million Neutron (NTRN) Tokens

8:05 pm
October 30, 2023

The Cosmos Hub has announced that a proposal to transfer over 42.7 million Neutron (NTRN) tokens from an unclaimed airdrop has been approved. The tokens will be transferred to the Cosmos Hub community pool.

Cosmos Proposal and Use of Funds

The recently approved governance proposal, known as #835, grants the Neutron DAO permission to transfer the 42,727,950 unclaimed NTRN tokens to the Cosmos Hub community pool. The tokens were part of an airdrop for the CosmWasm platform. The transfer is expected to strengthen the alignment between Neutron and the Cosmos Hub.

The proposal also includes policy details that outline how the funds can be utilized within the Cosmos ecosystem. The transfer was approved on the condition that the funds would not harm Neutron and that they would be used for the long-term benefit of both the Cosmos Hub ecosystem and Neutron.

Binance recently added NTRN to its Launchpool, allowing users to stake their BNB or stablecoins to farm NTRN tokens.

FAQs

What are Neutron (NTRN) tokens?

Neutron (NTRN) is a cryptocurrency token that operates on the Cosmos network. It is associated with the CosmWasm platform.

What is the Cosmos Hub?

The Cosmos Hub is the main hub of the Cosmos network, which is a decentralized network of interconnected blockchains. It provides the infrastructure for various applications and cryptocurrencies to interact with each other.

What is an airdrop?

An airdrop is a distribution of free tokens or cryptocurrencies to a group of individuals. In this case, the NTRN tokens were distributed to eligible recipients, but some remained unclaimed.

How will the transferred tokens be used?

The transferred tokens will be added to the Cosmos Hub community pool. The specific use of the funds will be determined by the Cosmos community, with the goal of benefiting both the Cosmos Hub ecosystem and Neutron.

Is Neutron affiliated with Cosmos?

Neutron is a separate project that operates on the Cosmos network. The transfer of tokens from Neutron to the Cosmos Hub community pool is intended to create a stronger alignment between the two projects.

Summary

The Cosmos Hub has approved a proposal to transfer 42.7 million Neutron (NTRN) tokens from an unclaimed airdrop to the Cosmos Hub community pool. The transfer aims to strengthen the collaboration between Neutron and the Cosmos Hub. The transferred tokens will be used according to policies that ensure no harm to Neutron and promote long-term benefits for both projects.


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