Neutron Token (NTRN) 2023 Guide

What Is Neutron

Neutron is a cross-chain smart contract platform that allows developers to deploy their applications once and scale them across the Inter-Blockchain Communication (IBC) network of interconnected blockchains without having to deploy or maintain multiple customised versions of their applications.

 

The IBC network allows the exchange of data, assets, and messages between different blockchains, enabling them to function together as part of a larger, interconnected ecosystem. It plays a critical component in developing a decentralised, interconnected, and seamless internet of blockchains.

 

Smart contracts are digital contracts with the terms of the agreement directly written into code. It allows blockchain platforms and developers to automatically enforce, verify, and facilitate the negotiation and performance of a contract when predefined conditions are met. 

 

Smart contracts’ codes are immutable which means that once they are deployed on a blockchain, they cannot be altered. This immutability ensures that the terms of the contract are tamper-proof. Additionally, as the contract’s execution is governed by the blockchain’s consensus mechanism, smart contracts are not controlled by a single entity or authority, making them decentralised and trustless.

 

How Does Neutron Work

Neutron is built on Cosmos SDK and CosmWasm which allows Neutron to facilitate interoperability across the 51+ interconnected blockchains in the Cosmos network.

 

The Cosmos SDK is an open-source framework for building blockchain applications. It provides developers with a set of base modules for the core functionality of a blockchain, such as accounts, transactions, and blocks. 

 

With these base modules as the foundation, developers are able to customise and extend these modules to create their own blockchain networks with specific features and requirements. These features include but are not limited to staking, governance, and cross-chain communication.

 

Being part of the IBC network, Cosmos SDK blockchains can interoperate with each other which allows users to send and receive tokens, assets, and data between different Cosmos SDK blockchains.

 

CosmWasm is a smart-contracting platform that runs on top of Cosmos SDK. It allows developers to create and execute smart contracts on Cosmos blockchains, enabling decentralised applications (DApps) and the automation of various processes. 

 

Smart contracts on CosmWasm are sandboxed which means that smart contracts are only able to access the resources that they have permission to. This helps prevent malicious smart contracts from harming other smart contracts or the blockchain itself. 

 

In addition, CosmWasm-based smart contracts require gas fees to execute which helps prevent denial-of-service attacks and other forms of abuse. These features help ensure the security of blockchains that use CosmWasm.

 

Neutron Key Features

These are some of the key features of Neutron:

 

Permission-less Framework

Neutron uses a permission-less framework which means that smart contracts can be executed without the need to be whitelisted via a governance vote. Execution of smart contracts will not be bottlenecked as they do not require approval from Neutron’s governance body. 

 

Furthermore, since it does not rely on governance votes, smart contract deployment is resistant to conflicts of interest. This allows Neutron to be faster, more scalable, and neutral.

 

Interchain Security

Neutron utilises Interchain Security which lets validators from the Cosmos Hub (Provider-Chain) validate and produce blocks for its blockchain (Consumer-Chain). Interchain Security allows Neutron to be able to enjoy the same degree of security as Cosmos Hub, one of the 10 most secure blockchains by value staked.

 

Interchain Queries

Using interchain queries (ICQs), smart contracts on the Neutron platform are able to securely obtain information from other blockchains without relying on third-party oracles. This means that Neutron ICQs are not susceptible to the same risks that third-party oracles face, such as downtime and fraud.

 

Neutron ICQs also do not require users to pay a fee to the oracle. Without relying on third-party oracles, developers can also save significant amounts of money, especially if they are making a lot of interchain queries. In addition, by using smart contracts to validate the data before processing it, Neutron ICQs help prevent malicious actors from tampering with the data.

 

NTRN Tokenomics

NTRN is the native and utility token of the Standard Tokenisation Protocol. These are several of its use cases including, but not limited to:

 

Fees

NTRN is used to pay for transaction fees on the Neutron platform. When a user performs a transaction on Neutron, they must pay a fee in NTRN. The fee depends on the type of transaction being performed and the current load on the platform. 

 

For example, more complex transactions such as deploying smart contracts typically require a higher fee compared to simpler transactions such as transferring tokens. 

 

Staking & Governance

In return for staking their NTRN tokens, token holders get voting power and can participate in Neutron’s governance through Neutron DAO, which controls the treasury/community pool. For example, token holders can decide the allocation of tokens across the different pools in Neutron DAO’s treasury.

 

NTRN has a maximum supply of 1,000,000,000 tokens of which 217,112,292 are in circulation as of October 2023.  

 

The planned distribution of NTRN tokens is as follows:

  • Neutron DAO – 40%
  • Reserve – 24%
  • Foundation – 10%
  • Treasury – 10%
  • Grants – 10%

 

NTRN reached an all-time price high of $0.53 on October 10, 2023. Since its all-time high, the price of NTRN has fallen by more than 30% as of October 2023. With a circulating supply of 217.11 million NTRN tokens, Neutron has a market capitalisation of $69.9 million.

 

Who Created Neutron

Not much is known about the founders of Neutron just that the Neutron platform is governed by the Neutron DAO and multiple subDAOs. The Neutron DAO smart contract address was added as admin when it was created, allowing the DAO to manage the platform as it sees fit.

 

SubDAOs are created by the Neutron DAO when it executes subDAO contracts that contain Instantiate messages. It is important to note that subDAO proposals can be overruled by the Neutron DAO within a specified timelock period.

 

NTRN has raised a total of $10 million in a funding round led by Binance Labs and CoinFund as of October 2023. Other notable investors in NTRN include Delphi Ventures, LongHash Ventures, Nomad Capital, and ChainLayer.

 

How To Trade NTRN On The Flipster App

To trade NTRN on Flipster:

 

  1. Download the Flipster app and set-up your account
  2. Go to [Trade]
  3. Click on [Search] at the top of the page and type in NTRN
  4. Click on NTRN
  5. In the [Amount] field, type in the amount of NTRN you wish to buy or sell. Alternatively, you can select the percentages below to choose how much to use from your available funds.
  6. Click [Preview order] to check your order
  7. Once you have confirmed the details, click on [Buy NTRN – Long] button or [Sell NTRN – Short] respectively.

 

Disclaimer: This material is for information purposes only and does not constitute financial advice. Flipster makes no recommendations or guarantees in respect of any digital asset, product, or service. 

 

Trading digital assets and digital asset derivatives comes with significant risk of loss due to its high price volatility, and is not suitable for all investors.


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