Today, Binance has launched the 38th phase of the new coin mining project Neutron. This article will quickly introduce you to the main components of Neutron and the basic information of its native token.
Author: Binance Research
Neutron allows developers to easily build cross-chain applications through the Inter-Blockchain Communication (IBC) protocol and provides comprehensive economic security for DeFi dApps on the Cosmos Hub.
NTRN is the native token of Neutron. The current use cases for NTRN include:
- Network fees: Paying transaction fees on the network.
- Governance: NTRN token holders control network parameters and finances through governance.
- DeFi: NTRN can be used as a liquidity, collateral, and reward token throughout the DeFi ecosystem.
The protocol consists of the following main components working together:
- Replication security: A mechanism that allows ATOM to be staked on the Cosmos Hub while protecting the Neutron network through IBC.
- Cosmos SDK blockchain: A framework for building sovereign blockchains. Neutron implements various custom modules that enable smart contracts to build cross-chain applications.
- Inter-Blockchain Query Module: Allows smart contracts to retrieve data from other blockchains without permission.
- Inter-Blockchain Transaction Module: Allows smart contracts to register and control accounts, execute transactions, track their status, and perform callbacks on other blockchains.
- 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 over 50 blockchains.
- CosmWasm: A high-performance WebAssembly virtual machine used to secure Rust smart contracts.
- Tendermint: Scalable Byzantine Fault Tolerant consensus protocol.
The project has completed a $10 million seed round of financing led by Binance Labs and co-led by Coinfund, with approximately 11.00% of the total NTRN token supply sold at a price of $0.09/NTRN.
As of October 10, 2023, the total supply of NTRN is 1,000,000,000, with a circulating supply post-listing of approximately 217,112,292 (approximately 21.70% of the total token supply).
Token Sale Information
Token Distribution
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