Cosmos proposal to transfer 42.7 million unclaimed Neutron (NTRN) approved

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Cosmos proposal to transfer 42.7 million unclaimed Neutron (NTRN) approved

By Benson Toti - min read
  • Cosmos Hub announced on October 30 that proposal #835 seeking the transfer of 42.7 million tokens from Neutron DAO to Cosmos Hub community pool had passed.
  • The proposal authorises the transfer of 42,727,950 NTRN in airdrop tokens not claimed.

Cosmos (ATOM) has announced that the proposal to transfer more than 42.7 million tokens from an unclaimed airdrop of the CosmWasm platform Neutron (NTRN), has been approved.

The governance proposal #835 sought to authorise the Neutron DAO to transfer the 42,727,950 NTRN that had not been claimed to the Cosmos Hub community pool.

Cosmos’ proposal and funds’ use

On October 30th, the Cosmos Hub revealed the governance vote had passed and the 42.7 million NTRN worth approximately $18,000,000 at the time of the proposal will now be moved to the community pool.

Included in proposal #835 were policy details that outlined the rules that applied to the transfer in relation to how the Cosmos ecosystem could utilise these funds. 

Approval and the subsequent transfer from the Neutron DAO was pegged on the understanding that the Cosmos community would adopt a policy that affects no harm to Neutron as a result of the funds’ use.

The other was that there would be mutual benefit, that the Cosmos network, its governance, and the community would ensure proper use of the funds for long-term benefit to both the Cosmos Hub ecosystem and Neutron.

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