Reward Budget: $300,000 in NTRN rewards
Status: Active (ends mid-January 2026) This page contains phase-specific information for Bitcoin Summer Phase 2. For complete step-by-step deposit instructions, see the How to Deposit guide.
What’s New in Phase 2
Phase 2 introduces meaningful upgrades to vault mechanics and reward structures, making participation simpler, more efficient, and more rewarding for long-term users.wBTC Lending Multiplier Increased to 4x
wBTC Lending Multiplier Increased to 4x
wBTC remains the backbone of on-chain Bitcoin liquidity. To strengthen its role, the wBTC lending multiplier on Amber has increased from 3x to 4x, improving capital efficiency for the most important lending asset in the system.
Simpler, More Accessible Boosting
Simpler, More Accessible Boosting
The Boost mechanism has received a major upgrade.Previously, achieving max boost required locking NTRN for four years. Starting in Phase 2, you can reach max boost with just a one-year lock, while still earning staking rewards on your locked NTRN.This change makes it easier for new participants to get started and for existing users to optimize their positions.Updated Boost Formula:
Updated Looping Incentives
Updated Looping Incentives
Amber’s looping vaults have an updated reward structure.Key change: Incentives are now distributed based on your collateral minus debt rather than on the full notional amount leveraged.This change balances accessibility with sustainability, ensuring looping remains one of the most powerful yield strategies in the ecosystem while creating a more equitable reward distribution.
Ethereum Vaults Sunset & Neutron-Native maxBTC
Ethereum Vaults Sunset & Neutron-Native maxBTC
Phase 2 completes Bitcoin Summer’s full transition to Neutron.
- All Ethereum-based vaults have been sunset
- maxBTC is now mintable directly on Neutron, simplifying the user journey
- This unlocks the full benefits of Neutron’s scalability and interoperability
- Users now have a single hub for Bitcoin-denominated yield strategies
maxBTC minting on Neutron still requires KYC verification through Structured.
Eligible Protocols
Amber Protocol (AmberFi)
Amber Protocol (AmberFi)
wBTC Lending on Amber
Eligible positions: wBTC lending positionsReward multiplier: 4x base (eligible for NTRN locking boosts)
BTC LST Lending on Amber
Eligible positions: BTC LST lending (eBTC, solvBTC, uniBTC)Reward multiplier: 2x base (eligible for NTRN locking boosts)
Looping Strategies on Amber
Eligible positions: maxBTC looping with wBTC, uniBTC, solvBTC, eBTCReward calculation: Based on collateral minus debt
Reward multiplier: Varies by pair (eligible for NTRN locking boosts)
For complete NTRN multiplier details across all activities (1x-6x), see NTRN Rewards Multipliers.
- Deposit: app.amberfi.io/
- Strategies: app.amberfi.io/strategies
Supervaults
Supervaults
maxBTC Supervaults
Eligible positions: maxBTC paired with various assets (wBTC, USDC, LSTs)Reward multiplier: 2x-6x depending on pair (eligible for NTRN locking boosts)
BTC LST Supervaults
Eligible positions: BTC LST pairs (eBTC, solvBTC, uniBTC with wBTC or maxBTC)Reward multiplier: 2x base (eligible for NTRN locking boosts)Access: Through app.neutron.org/earn/supervaults or Neutron app interfaces
Mars Protocol
Mars Protocol
Eligible positions:
- wBTC lending positions
- BTC derivative collateral strategies
Astroport DEX
Astroport DEX
Eligible positions: Various BTC asset LP pairs
Reward multiplier: Varies by pairActive pairs include:
Reward multiplier: Varies by pairActive pairs include:
- USDC/wBTC
- maxBTC/wBTC
- USDC/maxBTC
- Various LST pairs
Supported Assets
All assets are bridged to Neutron via IBC Eureka for secure cross-chain transfers. maxBTC is now mintable directly on Neutron.
| Asset | Description | Eligible Protocols |
|---|---|---|
| wBTC | Wrapped Bitcoin (most liquid) | Amber, Supervaults, Mars, Astroport |
| maxBTC | Structured Protocol’s yield-bearing BTC (now mintable on Neutron) | Supervaults, Amber (looping), Astroport |
| solvBTC | Solv Protocol Bitcoin | Amber, Supervaults |
| eBTC | EtherFi Protocol derivative | Amber, Supervaults |
| uniBTC | Bedrock uniBTC | Amber, Supervaults |
| USDC | Noble USDC for LP strategies | Supervaults, Astroport |
Phase 2 NTRN Rewards Multipliers
| Multiplier | Activity |
|---|---|
| 6x | LP in the maxBTC/USDC Supervault |
| 5x | LP in the WBTC/USDC Supervault |
| 4x | LP in the maxBTC/WBTC Supervault Lend WBTC on Amber |
| 2x | LP in the maxBTC/uniBTC Supervault LP in the maxBTC/solvBTC Supervault LP in the maxBTC/eBTC Supervault Lend uniBTC, solvBTC, or eBTC on Amber LP in the WBTC/uniBTC Supervault LP in the WBTC/solvBTC Supervault LP in the WBTC/eBTC Supervault Lend WBTC on Mars |
| 1x | Hold maxBTC |
- wBTC Lending on Amber: Increased from 3x to 4x
- Looping Strategies: Now calculated on collateral minus debt
Phase 2 Boost Mechanics
Max Boost with 1-Year Lock
The most significant change in Phase 2 is the simplified boost system:| Phase | Lock Duration for Max Boost | Max Boost Multiplier |
|---|---|---|
| Phase 1 | 4 years | 3x |
| Phase 2 | 1 year | 3x |
- New participants can achieve max boost with a significantly shorter commitment
- Existing lockers with locks >1 year already qualify for max boost
- You continue earning staking rewards (~3% APR) on locked NTRN
Updated Boost Examples
Example 1: Reaching Max Boost in Phase 2
Example 1: Reaching Max Boost in Phase 2
- Deposit: 1 BTC ($100,000)
- NTRN locked: $100,000 worth for 1 year
- Boost calculation: (100,000/100,000) × (1/1) × 2 = 2.0 (max boost)
- Total multiplier: 1 + 2.0 = 3x
Example 2: Partial Boost
Example 2: Partial Boost
- Deposit: 1 BTC ($100,000)
- NTRN locked: $50,000 worth for 6 months
- Boost calculation: (50,000/100,000) × (0.5/1) × 2 = 0.5
- Total multiplier: 1 + 0.5 = 1.5x
Example 3: Existing Long-Term Lockers
Example 3: Existing Long-Term Lockers
- Deposit: 1 BTC ($100,000)
- NTRN locked: $100,000 worth for 4 years (locked in Phase 1)
- Phase 2 boost: Already qualifies for max boost (lock > 1 year)
- Total multiplier: 3x
Claiming Phase 1 Rewards
If you participated in Phase 1, you have three options for claiming your NTRN rewards:Lock & Boost
Lock your rewards immediately to boost Phase 2 earnings and earn staking rewards
Instant Claim
Claim 50% immediately and forfeit the remaining 50%
Standard Vest
Vest over 2 months to claim the full 100%
Monitoring Your Positions
Campaign Rewards
Campaign Rewards
- Dashboard: Track points and projected rewards at app.neutron.org/balance
- Calculations: Updated daily based on position values
- Boost status: Verify NTRN locking boost is properly applied
- Multiplier display: Your current multiplier is shown on the Bitcoin Summer page
Protocol Yields
Protocol Yields
- Amber positions: Monitor through app.amberfi.io/
- Supervault positions: Track through Neutron DeFi interfaces
- Astroport positions: Track through app.astroport.fi
Phase 2 Specifics
Reward Allocation
Reward Allocation
- Total Budget: $300,000 in NTRN rewards
- Distribution: Pro-rata based on points earned
- Calculation: Daily snapshots of deposit values
- Boost eligible: All protocols support NTRN locking boosts
- Activity Multipliers: Different activities earn different NTRN multipliers (1x-6x)
Important Dates
Important Dates
- Phase Start: November 17, 2025
- Phase End: Mid-January 2026
- Duration: 2 months
- Reward Claims: Available after phase end
Key Differences from Phase 1
Key Differences from Phase 1
| Change | Phase 1 | Phase 2 |
|---|---|---|
| Reward Budget | $250,000 | $300,000 |
| wBTC Lending Multiplier | 3x | 4x |
| Max Boost Lock Duration | 4 years | 1 year |
| Looping Reward Basis | Full notional | Collateral minus debt |
| Ethereum Vaults | Deprecated Nov 1 | Fully sunset |
| maxBTC Minting | Via bridge | Native on Neutron |
Get Started
Start Participating
Visit the Neutron app to begin your Phase 2 participation