Binance Launches Neutron (NTRN) on Launchpool: A Promising Step Towards Cross-Chain DeFi
Binance has just announced the launch of its 38th project on Binance Launchpool – Neutron (NTRN). Neutron is set to revolutionize the world of cross-chain applications and DeFi (Decentralized Finance) by leveraging the Inter-Blockchain Communication Protocol (IBC) and ensuring the economic security of the Cosmos Hub. With the Neutron webpage set to go live in a mere four hours, anticipation is running high among crypto enthusiasts.
Neutron: Bridging the Gap Between Blockchains
Neutron aims to simplify the development of cross-chain applications, enabling seamless interaction between different blockchain networks. This is achieved through the utilization of the Inter-Blockchain Communication Protocol (IBC), a game-changing technology in the blockchain space. Moreover, Neutron provides DeFi decentralized applications (dApps) with the full economic security of the Cosmos Hub, bolstering trust and reliability in the ecosystem.
Neutron Launchpool: A Rewarding Opportunity
One of the key highlights of this announcement is the Neutron Launchpool, which offers users the chance to farm NTRN tokens by staking their BNB (Binance Coin), TUSD (TrueUSD), and FDUSD (Fractional Digital USD) tokens in separate pools. The farming period is set to begin on October 11, 2023, at 00:00 UTC and will run for 20 days, concluding on October 30, 2023, at 23:59 UTC.
Here are the Neutron Launchpool details:
- Token Name: Neutron (NTRN)
- Total and Maximum Token Supply: 1,000,000,000 NTRN
- Launchpool Token Rewards: 20,000,000 NTRN (2.00% of total token supply)
- Initial Circulating Supply: 217,112,292 NTRN (21.71% of total token supply)
- Staking Terms: KYC required
The supported pools and their respective rewards are as follows:
- Stake BNB: 16,000,000 NTRN in rewards (80%)
- Stake TUSD: 2,000,000 NTRN in rewards (10%)
- Stake FDUSD: 2,000,000 NTRN in rewards (10%)
Transparent Farming Distribution
Binance ensures transparency in the farming distribution process by providing daily rewards in each pool. These rewards will be distributed as follows:
- BNB Pool Daily Rewards: 800,000 NTRN
- TUSD Pool Daily Rewards: 100,000 NTRN
- FDUSD Pool Daily Rewards: 100,000 NTRN
Users can accumulate their rewards, which are calculated hourly, and claim them directly to their spot accounts at any time. The annual percentage yield (APY) and total pool balance for each pool will be updated in real-time.
BNB Vault Support
Binance’s BNB Vault will fully support the NTRN Launchpool. Users who have staked their BNB in the BNB Vault will automatically participate in the NTRN Launchpool and receive daily NTRN rewards in their Spot Wallets.
Eligibility and Restrictions
It’s important to note that participation in the Neutron Launchpool is subject to eligibility based on the user’s country or region of residence. Some countries and regions are excluded from participating in farming NTRN, including but not limited to Belarus, Canada, Cuba, Iran, Netherlands, United States of America, and more.
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