Reward Budget: $250,000 in NTRN rewards This page contains phase-specific information for Ethereum vault participation. For general guidance and processes, see the main Ethereum Path guide.
Eligible Assets
Deposit assets for Phase 1 vaults will include the following denominations. Additional tokens may be accepted in future phases.| Category | Asset(s) | Origin | Bridge | Notes |
|---|---|---|---|---|
| BTC Wrapper | wBTC | Ethereum | IBC | Wrapped Bitcoin |
| BTC LSTs | LBTC, SolvBTC, eBTC, uniBTC | Ethereum | IBC | Liquid Staking Tokens |
| Stablecoins | USDC | Ethereum | CCTP | For maxBTC LP |
Available Vaults (Phase 1)
LST Main Vaults: Lend & maxBTC LP
| Vault Name | Deposit Asset | Cap (in token amount) | KYC | Strategy | Allocation |
|---|---|---|---|---|---|
| uniBTC Main | uniBTC | 50 | No | Lend uniBTC; maxBTC/uniBTC LP | 70% Lend, 30% Supervault |
| solvBTC Main | solvBTC | 50 | No | Lend solvBTC; maxBTC/solvBTC LP | 70% Lend, 30% Supervault |
| LBTC Main | LBTC | 50 | No | Lend LBTC; maxBTC/LBTC LP | 70% Lend, 30% Supervault |
| eBTC Main | eBTC | 50 | No | Lend eBTC; maxBTC/eBTC LP | 70% Lend, 30% Supervault |
wBTC Vaults
| Vault Name | Deposit Asset | Cap (in token amount) | KYC | Strategy | Allocation |
|---|---|---|---|---|---|
| wBTC with uniBTC LP | wBTC | 50 | No | Lend wBTC; wBTC/uniBTC LP | 70% Lend, 30% Supervault |
| wBTC with solvBTC LP | wBTC | 50 | No | Lend wBTC; wBTC/solvBTC LP | 70% Lend, 30% Supervault |
| wBTC with LBTC LP | wBTC | 50 | No | Lend wBTC; wBTC/LBTC LP | 70% Lend, 30% Supervault |
| wBTC with eBTC LP | wBTC | 50 | No | Lend wBTC; wBTC/eBTC LP | 70% Lend, 30% Supervault |
| Just Lend – wBTC / Mars | wBTC | 500 | No | Lend wBTC | 100% Mars |
| Just Lend – wBTC / Amber | wBTC | 500 | No | Lend wBTC | 100% Amber |
Structured Vaults
| Vault Name | Deposit Asset | Cap (in token amount) | KYC | Strategy | Allocation |
|---|---|---|---|---|---|
| MaxBTC Liquidity Vault | wBTC | 500 | Yes | maxBTC/wBTC LP | 100% Supervault |
| MaxBTC Deposit Vault | wBTC | 500 | Yes | Holding maxBTC | 100% MaxBTC & Hold |
Stablecoin Liquidity
| Vault Name | Deposit Asset | Cap (in token amount) | KYC | Strategy | Allocation |
|---|---|---|---|---|---|
| Just LP - USDC maxBTC | USDC | 3,000,000 | No | maxBTC/USDC LP | 100% Supervault |
Phase 1 Specifics
Reward Allocation
Reward Allocation
- Total Budget: $250,000 in NTRN rewards
- Distribution: Pro-rata based on points earned
- Calculation: Daily snapshots of deposit values
- Boost eligible: All vaults support NTRN locking boosts
- Activity Multipliers: Different activities earn different NTRN multipliers (1x-6x). See NTRN Rewards Multipliers for complete details
Important Dates
Important Dates
- Phase Start: September 17, 2025
- Phase End: November 17, 2025
- Duration: 2 months
- Reward Claims: Available after phase end
Deposit Caps
Deposit Caps
- Current status: Caps as listed in vault tables above
- KYC vaults: Higher caps (500 tokens) for maxBTC vaults
- USDC vault: Highest cap (3,000,000 USDC)
- LST vaults: Lower caps (50 tokens each)
Vault Behavior
Base Vaults
The campaign’s primary vaults seek to bootstrap liquidity and lending supply for key assets across the ecosystem. They can be sorted into 3 primary categories:- 1. BTC LST Vaults with maxBTC
- Separate vault for each denomination: eBTC, LBTC, uniBTC, solvBTC.
- Each vault pairs the deposit asset with maxBTC in liquidity pools for BTC yield and trading fees.
- A portion of deposits is lent out to generate lending yields.
- 2. wBTC Vaults
- Accepts wBTC deposits.
- Pairs wBTC in an LP with one of the following per vault: eBTC, LBTC, uniBTC, solvBTC.
- Remaining wBTC is lent out to earn stable, BTC-denominated yield.
- 3. USDC Liquidity Vaults
- Accepts USDC deposits.
- Bridges USDC to Neutron via CCTP.
- Single sided deposits USDC to the USDC - maxBTC Supervault.
Bespoke Vaults
The campaign also includes specific vaults with custom behaviors that perform specific roles such as introducing MaxBTC to the ecosystem.-
4. MaxBTC Deposit Vault (KYC Required)
Contrary to other vaults, the MaxBTC Deposit Vault is not incentivized as part of the campaign, and not subject to withdrawal penalties. Depositors are encouraged to withdraw maxBTC and use it across the DeFi ecosystem to generate additional rewards.
- Accepts wBTC deposits.
- For deposits < $100k, requires SumSub KYC via the application.
- For larger deposits, whiteglove service is available upon request via @structured_EarlyAccess on Telegram
- Mints and holds maxBTC.
- Accepts wBTC deposits.
-
5. MaxBTC Liquidity Vault (KYC Required)
- Accepts wBTC deposits.
- For deposits < $100k, requires SumSub KYC via the application.
- For larger deposits, whiteglove service is available upon request via @structured_EarlyAccess on Telegram
- Mints MaxBTC.
- Provides MaxBTC liquidity as a single sided deposit to the MaxBTC - wBTC pair.
- Accepts wBTC deposits.