Cosmos Approves Transfer of 42.7M Neutron (NTRN)


Cosmos (ATOM) revealed on October 30th that the governance proposal #835 to transfer more than 42.7 million tokens from an unclaimed airdrop of the CosmWasm platform Neutron (NTRN) had been approved.

Proposal #835 authorised the Neutron DAO to transfer the 42,727,950 NTRN that had not been claimed to the Cosmos Hub community pool. This is worth approximately $18,000,000 at the time of the proposal.

The policy details outlined in the proposal stipulated that the Cosmos community would adopt a policy that would not cause harm to Neutron, and that there would be mutual benefit, ensuring proper use of the funds for the long-term benefit to both the Cosmos Hub ecosystem and Neutron.

On October 10, Binance added NTRN to its Launchpool as the 38th token. The 20-day offering allowed users to farm NTRN tokens by staking their BNB, or stablecoins TUSD and FDUSD.

The approval of this proposal will result in a stronger alignment between Neutron and the Cosmos Hub.

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