Cosmos proposal to transmit 42.7M Neutron (NTRN) has been approved

Cosmos Hub announced on October 30th that proposal #835 to transfer 42.7 million tokens from the Neutron DAO to the Cosmos Hub community pool has passed. The proposal authorizes the transfer of 42,727,950 NTRNs when not claimed by airmen.

CosmWasm (ATOM) has announced that a proposal to transfer more than 42.7 million tokens from the CosmWasm platform Neutron (NTRN) through an unclaimed airdrop has been accepted.

Administration Proposal #835 sought to authorize Neutron DAO to transfer 42,727,950 unclaimed NTRN to the Cosmos Hub Community Pool.

Cosmos proposal and use of funds

On October 30, Cosmos Hub announced that the management vote had passed and that the 42.7 million NTRN, costing approximately $18,000,000 during the proposal period, would now be transferred to the community pool.

Proposal #835 approved

42,727,950 NTRN are on their way to the Hub Community Pool!

Creating strong alignment between @Neutron_org and Cosmos Hub ⚛️ pic.twitter.com/ivpVETLMth

— Cosmos Hub ⚛️ (@cosmoshub) October 30, 2023

Included in Proposal #835 were policy specifications outlining the rules that would apply to the transfer regarding how the Cosmos Ecosystem could use these funds.

The approval and transfer from the Neutron DAO is based on the understanding that the Kosmos community will adopt a policy of not harming Neutron as a result of the use of the funds.

Another is to ensure mutual benefit, the Cosmos Network, management and community ensure that the funds are used appropriately for the long-term benefit of the Cosmos Hub ecosystem and Neutron.

Binance added NTRN to Launchpool as the 38th token on October 10. A 20-day supply allowed users to deposit their NTRN tokens by depositing BNB or stablecoins TUSD and FDUSD.