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Overview

The Bitcoin Summer campaign is Neutron’s comprehensive incentive program designed to bootstrap Bitcoin DeFi liquidity and onboard new users to the ecosystem. The campaign distributes up to $10M in NTRN rewards over multiple epochs to participants who provide liquidity and engage with Neutron’s DeFi protocols.

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Campaign Structure

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Epochs & Timeline

The campaign is structured in successive 2-month epochs, with at least 6 epochs planned (12+ months total duration). Each epoch has predetermined parameters set before launch:
  • Epoch Budget: Dollar value distributed as incentives (e.g., Epoch 1: $250,000)
  • Eligible Vaults: List of participating vault strategies
  • DeFi Opportunities: Qualifying protocols and their reward multipliers
Earlier epochs have smaller budgets to account for initial adoption, while later epochs scale up to drive broader participation. Epoch Timeline

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Total Budget & Distribution

  • Total Allocation: $10M or up to 10% of NTRN supply (whichever is lower)
  • Duration: 6-12 epochs over 12-24 months
  • Budget Growth: Later epochs receive larger allocations based on campaign success

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How Rewards Work

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Dollar-Denominated Rewards

Unlike traditional token farming, rewards are calculated in dollar terms throughout each epoch and converted to NTRN tokens at epoch end based on the final NTRN price. Example:
  • Alice deposits 1 BTC ($100,000) at epoch start
  • Earns $1,660 in rewards over 2 months (~10% APR)
  • At epoch end, if NTRN = $1, Alice receives ~1,660 NTRN tokens
This structure means campaign costs decrease if NTRN price appreciates, aligning incentives with network growth.

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Points System

Rewards use a points-based accounting system: Points=USD Value of Deposit×Days Staked×(1+Bonus Multipliers)\text{Points} = \text{USD Value of Deposit} \times \text{Days Staked} \times (1 + \text{Bonus Multipliers})
  • Daily Calculation: Points accrue daily based on USD deposit value
  • Pro-rata Distribution: Epoch budget distributed proportionally to total points earned
  • Bonus Multipliers: Additional rewards for advanced strategies (detailed in Advanced Rewards)

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Participation Paths

The campaign rewards users who participate in DeFi both directly on Neutron and indirectly via campaign vaults on Ethereum.

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Ethereum Vaults Path

Best for: Users wanting simple exposure with familiar wallets
  • Deposit: Use any EVM wallet (MetaMask, etc.) on app.neutron.org
  • Process: Deposits automatically bridged and deployed to Neutron DeFi
  • Rewards: DeFi yields + NTRN incentives + potential asset issuer rewards

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Direct Neutron DeFi Path

Best for: Users wanting maximum control and potential bonus rewards
  • Deposit: Use Neutron wallet (Keplr, etc.) directly on protocols
  • Protocols: Amber, Mars, Supervaults, and other eligible opportunities
  • Rewards: Same base rewards + access to advanced reward multipliers
Advanced reward multipliers and certain bonus opportunities are only available to users who onboard directly to Neutron with a Neutron-compatible wallet.

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Reward Claiming & Vesting

After each epoch ends, participants have three claiming options:
  1. Instant Claim: Immediate access with 50% penalty
  2. Standard Vesting: Full rewards vested over 2 months
  3. Locked Staking: Enhanced rewards for longer lock periods (see Advanced Rewards)
The vesting mechanism promotes long-term ecosystem participation and prevents sudden token supply releases.

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Vault Overview

Campaign vaults accept deposits on Ethereum, bridge assets to Neutron, and deploy them to optimized DeFi strategies. Most vaults maintain exposure to the same asset class to prevent impermanent loss and offer flexible withdrawals.
For detailed vault behaviors and technical specifications, see BTC Summer Vaults.

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Getting Started

  1. Choose Your Path: Decide between Ethereum vaults or direct Neutron participation
  2. Connect Wallet: EVM wallet for vaults, Neutron wallet for direct participation
  3. Select Strategy: Browse available opportunities on app.neutron.org
  4. Deposit Assets: Follow the guided deposit process
  5. Monitor Rewards: Track points and projected rewards in real-time
  6. Claim Rewards: Choose your preferred claiming method at epoch end

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Learn More

Ready to participate? Visit app.neutron.org to explore available opportunities.