BTC Summer
FAQ
Common questions, troubleshooting, and step-by-step guidance for BTC Summer participation
This FAQ answers common questions about the Bitcoin Summer campaign, participation paths, and reward mechanisms.
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Campaign Basics
What is BTC Summer and how does it work?
What is BTC Summer and how does it work?
Bitcoin Summer is a campaign designed to jumpstart bitcoin finance on Neutron - turning BTC into a productive asset on-chain capable of offering real yield beyond price appreciation.Users can participate by depositing into campaign vaults or eligible DeFi positions to earn:
- NTRN incentives from the $10M campaign budget
- Partner airdrops from asset issuers like Lombard, Solv, EtherFi
- DeFi yield from underlying protocol activities
How much can I earn?
How much can I earn?
Rewards depend on:
- Deposit size: Larger deposits earn more points
- Duration: Full epoch participation maximizes rewards
- Boost mechanisms: NTRN locking can triple your rewards (up to 3x total)
- Epoch budget: Epoch 1 has $250,000, later epochs will be larger
What are forfeitable terms?
What are forfeitable terms?
The Bitcoin Summer campaign uses “soft-lock” incentives: Rewards are distributed at the end of each 2-month epoch. You can withdraw at any time, but withdrawing during an epoch forfeits the pro-rata share of rewards accumulated during that epoch.Example: If you deposit 10 BTC and withdraw 5 BTC mid-epoch, you forfeit rewards corresponding to the withdrawn amount.
Should I use Ethereum vaults or direct Neutron deposits?
Should I use Ethereum vaults or direct Neutron deposits?
Choose Ethereum Path if:
- You’re comfortable with MetaMask/EVM wallets
- You want automated strategies with simple deposits
- You’re new to the Neutron ecosystem
- You’re familiar with Keplr/Cosmos wallets
- You want direct control over positions
- You want immediate access to boost mechanisms
About maxBTC
What is maxBTC?
What is maxBTC?
maxBTC is liquid, yield-bearing Bitcoin that offers real BTC yield through on- and off-chain strategies.Key features:
- Real BTC Yield: Attractive BTC-denominated yield from tested strategies, not emissions
- LST-like Form Factor: Composable design for DeFi integrations
- Liquid: Withdraw anytime or trade via DEXs with minimal slippage
- Transparent and Secure: Clear strategy mechanics and risk metrics
- Scalable: Supports multiple strategies without manual capital rotation
How does maxBTC generate yield?
How does maxBTC generate yield?
maxBTC generates yield through tested on- and off-chain strategies. The initial strategy is based on the Jupiter Liquidity Provider (JLP) pool, which backs leveraged positions on Jupiter Perps and earns fees from trader activity.Fee sources:
- Opening and closing fees on trades
- Borrowing fees paid by leveraged traders
- Protocol trading fees
- Liquidation fees
Why is KYC required to mint and redeem maxBTC?
Why is KYC required to mint and redeem maxBTC?
KYC ensures compliance with anti-money laundering (AML) laws and regulations. Because minting and redeeming involve direct interaction with Structured’s vaults, verification protects both participants and the protocol.KYC options:
- Individuals: Complete KYC through zkMe with ID and proof of address
- Entities: Manual verification with the Structured team
Where can I buy maxBTC?
Where can I buy maxBTC?
maxBTC can be purchased on Neutron’s built-in orderbook or through campaign vaults that provide maxBTC exposure.
About Protocols
What is Amber Protocol?
What is Amber Protocol?
Amber Finance is a BTC-native DeFi platform built on Mars Protocol infrastructure. It lets you put your Bitcoin to work while preserving value and earning yield.Available strategies:
- Lend BTC: Earn passive yield from lending markets
- Loop BTC: Boost exposure and earn higher returns with leverage
- Basis trading: Use BTC as collateral for structured strategies
- Borrow against BTC: Access liquidity without selling
What are Supervaults and how do they work?
What are Supervaults and how do they work?
Supervaults provide institutional-grade automated market making with CEX-level performance.Key features:
- Automated LP management: Optimal position management without manual intervention
- Tight spreads: CEX-grade market-making performance
- Minimal adverse selection: Advanced algorithms protect against MEV
- Steady yields: Earn from trading fees + campaign rewards
What is leveraged looping and why is it important for BTC?
What is leveraged looping and why is it important for BTC?
Leverage looping maximizes yield by using a yield-bearing token as collateral to borrow the underlying asset, then converting it back to the yield-bearing token and repeating.For Bitcoin: This strategy was previously impossible because there were no high-yielding Bitcoin tokens. maxBTC (yielding 5-10% APR) is the engine that powers leverage looping for Bitcoin on Neutron.How it works on Amber:
- Deposit maxBTC as collateral
- Borrow BTC derivatives (eBTC, etc.)
- Swap borrowed assets for more maxBTC
- Repeat to amplify exposure and yield
Wallets & Setup
I don't have a Neutron wallet. How can I participate?
I don't have a Neutron wallet. How can I participate?
Navigate to app.neutron.org/btc-summer and deposit into Bitcoin Summer Vaults. All Ethereum wallets (MetaMask, Coinbase Wallet, etc.) are compatible.Simple path: Use familiar EVM wallets for automated vault strategies.Get started: Ethereum Path
I have a Neutron wallet. How can I participate?
I have a Neutron wallet. How can I participate?
Navigate to app.neutron.org and deposit directly into eligible DeFi positions:
- Amber lending: Lend BTC derivatives for yield
- Supervaults: Provide liquidity to automated market-making vaults
Which wallets are compatible with Neutron?
Which wallets are compatible with Neutron?
For Neutron DeFi: Keplr, Leap, and Cosmostation wallets
For Bitcoin Summer Vaults: MetaMask, Phantom, or Coinbase WalletRecommended setup:
- Ethereum Path: MetaMask for vault deposits
- Neutron Path: Keplr for direct protocol interaction
- Boost rewards: Keplr needed for NTRN locking (both paths)
What tokens does Neutron support as gas?
What tokens does Neutron support as gas?
Neutron supports multiple gas tokens including:
- Primary: NTRN, USDC, ATOM, TIA, DYDX
- Staking derivatives: wstETH, dNTRN, dATOM, dTIA
- BTC derivatives: LBTC, solvBTC, eBTC, pumpBTC, uniBTC, axl.wBTC
- Cross-chain: axlUSDC, atom.ETH, axl.WETH
How can I bridge to Neutron?
How can I bridge to Neutron?
Visit app.neutron.org/bridge to bridge assets to and from Neutron in seconds from almost any network.Supported bridges: Ethereum, Cosmos Hub, Osmosis, Noble, and 100+ other networks.
Rewards & Boosts
How do NTRN locking boosts work?
How do NTRN locking boosts work?
- Lock NTRN for up to 4 years to earn substantial reward multipliers
- Receive receipt NFT representing your locked position
- Point boost to the address where you deposited BTC
- Earn multiplier up to 2x boost (3x total rewards)
- Additional yield: 3% APR on locked NTRN through Drop staking
Can I boost multiple addresses?
Can I boost multiple addresses?
No - you can only boost 1 address at a time. Updating your boost target automatically moves all previous boosts to the new address.Critical rule: Point boost to the same address where you deposited BTC.
What happens if I point my boost to the wrong address?
What happens if I point my boost to the wrong address?
Your boost won’t work correctly. Make sure to:
- Ethereum deposits: Point boost to your EVM address
- Neutron deposits: Point boost to your Neutron address
- Update if needed: You can change your boost target anytime
Are boost NFTs tradeable?
Are boost NFTs tradeable?
Yes, receipt NFTs from NTRN locking are transferable:
- Can be traded on secondary markets (e.g., Superbolt)
- Boost benefits only apply to current holder
- New holder must stake NFT to activate boost
- Original holder loses boost benefits upon transfer
About Neutron
What is Neutron?
What is Neutron?
Neutron is a Rust-based, public PoS blockchain that enables BTC holders to earn sustainable yield through an expanding suite of products and services.Built-in infrastructure:
- High-frequency oracle for accurate price feeds
- Cron module for automated execution
- On-chain orderbook for efficient trading
- Interchain Transactions (ICTX) and Queries (ICQ) for cross-chain coordination
What is Neutron's mission?
What is Neutron's mission?
Democratize access to the best financial opportunities.Learn more: Core Concepts
How does Neutron enable real yield on BTC?
How does Neutron enable real yield on BTC?
Real BTC yield on Neutron comes from:
- maxBTC: Asset that tokenizes real BTC yield through on- and off-chain strategies
- Lending yield: Sourced from Amber Finance
- Trading fees: Paid by users who trade on the network via Supervaults
- Automated market making: Through institutional-grade Supervaults
What is NTRN and what can I do with it?
What is NTRN and what can I do with it?
With a fixed supply of 1B and zero inflation, NTRN is the native token that powers Neutron’s decentralized economy.Use cases:
- Staking: Secure the network and earn staking rewards
- Gas fees: 30% discount when paying gas in NTRN vs other tokens
- Governance: Vote on network proposals and DeFi protocols
- DeFi: LP on Supervaults, lend for yield, use as collateral
- Bitcoin Summer: Lock NTRN to boost campaign rewards up to 3x
Technical Questions
How are rewards calculated?
How are rewards calculated?
Rewards use a points-based system with daily calculations:Formula: Points = USD Value × Days Staked × (1 + Boost Multiplier)
- Daily calculations: Points accrue each day based on USD value
- Pro-rata distribution: Your share = (Your Points / Total Points) × Epoch Budget
- Dollar-denominated: Converted to NTRN at epoch end
Where do I find my positions after withdrawal?
Where do I find my positions after withdrawal?
Depends on your participation path:Simple Lending Vaults (Ethereum Path):
- Underlying assets (wBTC, eBTC) sent back to your original Ethereum wallet
- No additional setup needed
- Supervault LP tokens sent to your Neutron wallet
- Track at app.neutron.org/balance
- Positions remain in your Neutron wallet
- Manage through protocol interfaces
What happens when I withdraw early?
What happens when I withdraw early?
- Principal: Always available (no lock on deposits)
- Campaign rewards: Forfeit pro-rata share for current epoch
- Previous epochs: Completed epoch rewards remain safe
- DeFi yields: Keep any earned protocol yields
My boost isn't working - what should I check?
My boost isn't working - what should I check?
Common issues:
- Boost pointed to wrong address (must match deposit address)
- NFT not properly staked to boost contract
- Conflicting wallet connections (use one primary wallet)
- Address linking not completed properly
Strategic Context
Why is Neutron running this campaign?
Why is Neutron running this campaign?
Market opportunity: Bitcoin holders want yield, but current options offer only inflationary rewards or speculative points.Technical capability: Neutron is uniquely positioned to deliver Bitcoin DeFi through:
- Integrated blockchain infrastructure purpose-built for DeFi
- maxBTC enabling leverage looping and basis trading for Bitcoin
- Cross-collateralized perpetuals and automated market making
What makes this different from other yield farming campaigns?
What makes this different from other yield farming campaigns?
BTC Summer isn’t just token distribution - it’s bootstrapping the first real yield strategies for Bitcoin:
- Real infrastructure: Purpose-built protocols for Bitcoin DeFi
- Sustainable strategies: Leverage looping and basis trading (dominant DeFi trades)
- Market size: Targeting $10B+ markets previously inaccessible to Bitcoin
- Long-term value: Building lasting Bitcoin DeFi ecosystem on Neutron