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Version: 5.0

Overview

Used as a CW20 like token for distributing (vesting) airdropped NTRN tokens.

Description​

Main alterations from cw20-base contract:

  • Mint mints to the airdrop address only and requires untrn tokens sent along;
  • Burn/BurnFrom/Withdraw not only burn tokens, but also transfer untrn tokens to addresses in 1:1 proportion to burned cNTRN tokens;
  • Only Withdraw is permissionless and can be called directly by the user;
  • Withdraw has a vesting mechanism attached (tokens are linearly vested for a given amount of time);
  • Transfer only accessible for airdrop contract address.

The contract is owned by the Neutron DAO and needs to know airdrop and lockdrop contract addresses on initialization for permission purposes.

DAO executes Mint() with untrn sent along to mint cNTRN funds in 1:1 proportion and assigns newly minted cNTRN funds to the airdrop address.

Vesting​

Vesting algorithm is linear with no cliff.

Users can use query WithdrawableAmount to find out how many tokens they can Withdraw() now.

Main usage scenarios​

Initialization and Mint​

  1. DAO initializes contract, specifies token info with minter, airdrop and lockdrop contract addresses.
  2. DAO executes Mint() with untrn sent along, that mints cNTRN in 1:1 proportion and assigns them to airdrop contract balance.

Airdrop distribution​

  1. Airdrop calculates the amount of airdrops for users and uses Transfer(recipient, amount) together with AddVesting(address, amount, start_time, duration) to transfer funds and set vesting schedule (Always a linear vesting with 0 CLIFF time).
  2. There are two ways of burning cNTRN and sending untrn to user:
  • users can execute Withdraw() to burn cNTRN and get untrn according to the vesting schedule. They can look into how much they can withdraw now using WithdrawableAmount(address) query. Withdraw() can be called only after config.when_withdrawable passed (Should be set to lockdrop phase 2 end).
  • lockdrop can execute BurnFrom(owner, amount) to send amount of untrn to owner (This action skips vesting as a reward for lockdrop participation).

    NOTE: BurnFrom does not affect vested amounts. So for example if user can get 200 untrn from Withdraw(), he will get exactly 200 untrn even if BurnFrom is called just prior to this. Withdraw() method also has additional check to ensure that no more than user balance will be withdrawn.

  1. At the end of airdrop stage (3 months after event add), airdrop executes Burn(amount) to burn unclaimed cNTRN.