What is Neutron (NTRN)? The 38th Project on Binance Launchpool

What is Neutron (NTRN) and what makes this project so attractive that giant Binance invested in a $10 million seed round?

What Is Neutron (ntrn)? The 38th Project On Binance Launchpool_65b98797dd683.png

If before June 21, Binance Labs participated in a $10 million funding round for Neutron Network, today, on October 10, 2023, Binance has announced the listing of Neutron – a cross-chain smart contract platform built on Cosmos Hub. So, What is Neutron (NTRN), and what makes this project so attractive that the giant Binance is investing in it?

What is Neutron (NTRN)?

Neutron is a cross-chain smart contract platform built on Cosmos, allowing developers to deploy smart contracts that can interact with each other through the IBC protocol.

Neutron combines the security features of the top 10 blockchains, enabling the safe scaling of DeFi applications on its network.

The native token of the project is NTRN.

Key Features of Neutron

CosWASM Support
Neutron supports CosmWasm, a virtual machine that enables smart contracts to be written in Rust, AssemblyScript, and other programming languages, running on Cosmos blockchains.

Deploying applications as CosmWasm smart contracts is easier, more cost-effective, and faster compared to launching the entire Cosmos SDK. This standardized toolset provides a smoother experience for developers.

IBC Support
Neutron supports the IBC (Inter-Blockchain Communication) protocol, which allows blockchains to communicate and interact with each other securely and reliably. IBC was developed by Cosmos Network.

This also enables applications on Neutron to interact with applications on other Cosmos blockchains, allowing developers to build cross-chain applications that access assets and data from various blockchains.

Security
Neutron is secured by Cosmos Hub, known as one of the most secure blockchains. Cosmos Hub uses Interchain Security, a security mechanism that allows validators from one blockchain to secure another.

Permissionless
Neutron is a permissionless platform, meaning anyone can deploy code on it. This makes Neutron an open platform where anyone can participate in building decentralized applications.

These features make Neutron a robust cross-chain smart contract platform. Neutron can be used to build various applications, including:

DeFi: Neutron can be used to build DeFi applications like decentralized exchanges (DEXs), lending platforms, and stablecoin protocols. These applications can use Neutron to interact with each other, allowing users to transfer assets between applications easily and quickly.
DApps: Neutron can be used to build other decentralized applications such as social networks and gaming platforms.

Information about Neutron (NTRN) Token

Token Metrics

Token Name: Neutron Token
Ticker: NTRN
Blockchain: Cosmos
Contract: Updating…
Token Type: Utility Governance
Token Price: $0.34
Total Supply: 1,000,000,000 NTRN
Circulating Supply: 217,112,292 according to CoinMarketCap

Read more: Binance lists Neutron price surges significantly

Token Utility

$NTRN serves various purposes within the platform, including: DAO, staking, trading

NTRN Token Distribution

What is Neutron (NTRN)
What is Neutron (NTRN)? NTRN Token Distribution

Neutron DAO: 54%
Founders: 23%
Early Backers: 11%
Community: 12%

NTRN Token Allocation Schedule

What is Neutron (NTRN)
What is Neutron (NTRN)? Neutron token allocation schedule

Neutron DAO: Tokens are held in the Treasury and Reserve of the DAO and are only used when the community proposes a use.
Team & Early Backers: Tokens allocated to the founding team and early supporters are locked for one year and linearly unlocked over three years. Early backers have voting rights during the lockup period.

Community: Tokens are allocated to the community through launch events and Neutron airdrops. These tokens have a 3-month lockup period with optional locks, and community members have voting rights during the lockup.

Neutron (NTRN) Project Roadmap

What is Neutron (NTRN)
What is Neutron (NTRN)? Neutron project roadmap

Team

Neutron is developed by the Hadron Labs team, which includes key members such as:

Avril Dutheil, CEO: He holds a degree from the University of Birmingham and has experience in the cryptocurrency field. He worked at Lido for four months and served as the CEO of P2P, a non-custodial staking platform with over $1.4 billion staked. P2P primarily caters to professional investors and businesses, making staking easy without running complex nodes.
Anthony C., COO – CFO: He holds dual degrees from Arden University and Saint John University. Anthony previously held the position of Chief Operating Officer at OKX Bahamas for over a year before transitioning to Hadron Labs.

Investors

What is Neutron (NTRN)
What is Neutron (NTRN)?The Neutron project is raising funds in a seed round

Neutron successfully raised over $10 million in June 2023, led by Binance Labs and Coinfund, along with other venture capitalists.

Current Exchanges for Neutron (NTRN) Token Trading

CEX Exchanges: Binance, BingX, Gate, ….
DEX Exchanges: Astroport, Osmosis, …..

Check the Neutron project information

Website: https://neutron.org/

Discord: https://discord.com/invite/zRT2ZkQsxA

Twitter: https://twitter.com/Neutron_org

Reddit: https://reddit.com/r/Neutron_org

Neutron (NTRN) Price

The information about Neutron’s listing on Binance has generated significant interest in the project. Currently, the community’s attention is focused on NTRN’s price movement. At the time of writing, NTRN is trading around $0.34, representing a decrease of more than 30% from its all-time high of $0.50 when it was listed on Binance.

Conclusion

Neutron is a relatively new project with a short development history but is the first project to be secured by Cosmos’ Interchain Security technology. Notably, Binance and Coinfund led the Seed Round of Neutron with 11% of the total NTRN tokens sold at a price of $0.09 per NTRN (90 million FDV).

The above information provides an overview of the Neutron project and its recent launch on Binance. We hope this article by AZCoiner is useful to readers seeking information about Neutron.

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