Phase 3
Duration: 2 months
Reward Budget: $300,000 in NTRN rewards
Status: Active
This page contains phase-specific information for BTCFi Phase 3. For complete step-by-step deposit instructions, see the How to Deposit guide.
What's New in Phase 3
Phase 3 continues the BTCFi campaign with refined multipliers and a streamlined set of eligible positions focused on the highest-impact strategies.
Looping Multiplier Increased to 2x
Leverage looping positions now earn a 2x multiplier on equity (collateral minus debt), up from 1x. This makes looping strategies more rewarding for users who want to maximize their BTC exposure.
Streamlined Eligible Positions
Phase 3 focuses incentives on core strategies:
- Astroport: Only wBTC/maxBTC and maxBTC/USDC LP positions remain eligible
- Mars: wBTC lending is no longer part of the BTCFi campaign
- Core protocols: Amber lending, Supervaults, and looping remain the primary venues
LST Position Multipliers Adjusted
LST-based positions (uniBTC, solvBTC, eBTC) now earn 1x multipliers, aligning incentives with core BTC strategies while still rewarding participation.
Phase 3 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 | Loop maxBTC with wBTC on Amber Loop maxBTC with uniBTC on Amber Loop maxBTC with solvBTC on Amber Loop maxBTC with eBTC on Amber |
| 1x | Hold maxBTC Lend uniBTC, solvBTC, or eBTC on Amber LP in LST Supervaults (uniBTC, solvBTC, eBTC pairs) LP in wBTC/maxBTC on Astroport LP in maxBTC/USDC on Astroport |
Looping multiplier note: The 2x multiplier applies to your equity (collateral minus debt), not the full notional leveraged amount.
Eligible Protocols
Amber Protocol (AmberFi)
wBTC Lending on Amber
Eligible positions: wBTC lending positions
Reward multiplier: 4x base (eligible for NTRN locking boosts)
BTC LST Lending on Amber
Eligible positions: BTC LST lending (eBTC, solvBTC, uniBTC)
Reward multiplier: 1x base (eligible for NTRN locking boosts)
Looping Strategies on Amber
Eligible positions: maxBTC looping with wBTC, uniBTC, solvBTC, eBTC
Reward multiplier: 2x on equity (eligible for NTRN locking boosts)
Access:
- Deposit: app.amberfi.io/
- Strategies: app.amberfi.io/strategies
Supervaults
maxBTC Supervaults
Eligible positions: maxBTC paired with USDC, wBTC, or LSTs
Reward multiplier: 1x-6x depending on pair (eligible for NTRN locking boosts)
wBTC Supervaults
Eligible positions: wBTC paired with USDC
Reward multiplier: 5x (eligible for NTRN locking boosts)
BTC LST Supervaults
Eligible positions: BTC LST pairs (eBTC, solvBTC, uniBTC with wBTC or maxBTC)
Reward multiplier: 1x base (eligible for NTRN locking boosts)
Access: Through app.neutron.org/bitcoin-finance
Astroport DEX
Eligible positions (Phase 3):
- wBTC/maxBTC LP
- maxBTC/USDC LP
Other Astroport pools are no longer eligible for BTCFi rewards in Phase 3.
Access: Through app.astroport.fi
Structured (maxBTC)
Eligible positions: Hold maxBTC
Reward multiplier: 1x base (eligible for NTRN locking boosts)
maxBTC is mintable directly on Neutron (KYC required).
Access: Through app.structured.money
Supported Assets
| Asset | Description | Eligible Protocols |
|---|---|---|
| wBTC | Wrapped Bitcoin (most liquid) | Amber, Supervaults, Astroport |
| maxBTC | Structured Protocol's yield-bearing BTC (mintable on Neutron) | Supervaults, Amber (looping), Astroport |
| uniBTC | Bedrock uniBTC | Amber, Supervaults |
| solvBTC | Solv Protocol Bitcoin | Amber, Supervaults |
| eBTC | EtherFi Protocol derivative | Amber, Supervaults |
| USDC | Noble USDC for LP strategies | Supervaults, Astroport |
Phase 3 Boost Mechanics
Max boost continues to require only a 1-year lock (introduced in Phase 2).
| Lock Duration | Max Boost Multiplier |
|---|---|
| 1 year | 3x |
Boost Formula:
For detailed boost examples, see Rewards Guide.
Claiming Phase 2 Rewards
If you participated in Phase 2, you have three options for claiming your NTRN rewards:
Lock your rewards immediately to boost Phase 3 earnings and earn staking rewards
Claim 50% immediately and forfeit the remaining 50%
Vest over 2 months to claim the full 100%
Monitoring Your Positions
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 BTCFi page
Protocol Yields
- Amber positions: Monitor through app.amberfi.io/
- Supervault positions: Track through app.neutron.org/bitcoin-finance
- Astroport positions: Track through app.astroport.fi
Phase 3 Specifics
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
Important Dates
- Phase Start: Mid-January 2026
- Phase Duration: 2 months
- Reward Claims: Available after phase end
Get Started
Visit the Neutron app to begin your Phase 3 participation