Neutron will shift to long-term maintenance mode, with multiple products gradually shutting down
Foresight News reports that Cosmos cross-chain smart contract platform Neutron tweeted that its network will shift to long-term maintenance mode, prioritizing the security of assets for users, builders, and stakeholders. Core changes include: Supervaults will prohibit new deposits starting March 16, DEX and Supervaults will be fully suspended by April 17 at the latest (only withdrawal channels will remain until June 30); dNTRN holders can exchange for NTRN via the Drop website or Neutron app starting March 23; wstETH holders must bridge back to Ethereum before June 30; the NTRN redemption mechanism will be announced later, and remaining assets after foundation liquidation are planned to be proportionally returned to the DAO.
Governance, staking, and validator systems will abandon the Neutron custom model and switch to the standard Cosmos model; token inflation will be dynamically adjusted, and the foundation and DAO plan to burn a large amount of NTRN to reduce supply; Hadron Labs will maintain the network until June 30, after which it will shift to a low-maintenance community support mode; Fireblocks support will end by the end of April. The team stated that despite significant innovation over the past four years, the recent poor market environment and lack of a viable long-term strategy led to this decision.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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