TL;DR
- NPM emission distribution for Epoch #1
- Attendance in Arbitrum Foundation’s X Space AMA Session
- Upgrade on Neptune Mutual Explorer
- Neptune Mutual hack database milestone
- April monthly town hall in Discord
- The end of Snapshot voting for Epoch #2
Neptune Mutual Protocol Update
We have upgraded Neptune Mutual’s Explorer to feature a new drop-down menu for event tracking. This enhancement offers a convenient method for monitoring activities within the Neptune Mutual Marketplace.
On April 27, we announced the end of snapshot voting for Epoch #1. Following that, the Gauge Controller emitted 375,000 NPM tokens to the Prime dApps and Popular DeFi Apps on the Arbitrum chain. LPs from these two diversified pools who locked in their POD tokens were eligible for the reward.
On May 20, we announced that the governance proposal for Gauge Controller for Epoch #2 on Snapshot was open for voting until May 23. This time, another 375,000 NPM emissions were available to LPs of Prime dApps and Popular dApps on the Arbitrum chain.
The community staked 156K NPM in the Snapshot vote, allocating 65.46% of the emissions to the Prime dApps diversified cover pool and the remaining portion to the Popular DeFi Apps pools. NPM emissions for Epoch #2 will start on June 1, 2024, and cover pool LPs of either Prime dApps or Popular DeFi Apps will need to lock their proof-of-deposit (POD) tokens to start accruing NPM emissions.
Neptune Mutual Events
Co-founder Edward Ryall joined Arbitrum’s X Space to discuss the rewards available to Arbinauts through the Neptune Mutual cover marketplace. During the conversation, Edward highlighted the distribution of NPM emissions to cover pool LPs. He explained how LPs can increase their share of NPM emissions by converting their NPM tokens to veNPM tokens and locking their POD tokens at the start of each epoch. He also directed Arbinauts to Neptune Mutual’s YouTube channel, which features a tutorial on veNPM and the liquidity gauge, as well as information on Neptune Mutual Snapshot voting.
As part of our regular schedule, we held our April town hall session on Discord. Edward provided updates on several key topics, such as the mainnet launch of vote escrow on the Arbitrum network, the first snapshot voting for NPM emission and distribution, and the growth in marketplace activity.
The session was recorded and is now available on our YouTube channel, so be sure to watch it for all the details.
Recent Neptunite News
We announced a couple of new milestones regarding DeFi hacks and exploits covered by our team. Our hack database has surpassed 800 incident reports and over 160 detailed exploit reports.
Moreover, our marketplace has been very active, with over 26,000 transactions all time—around 6,000 in the last month alone.
Neptune Mutual Blog Digest
Here’s a detailed look at the articles published this month:
Neptune Mutual
Honest vs Dishonest Incident Reporters
Benefits of Governance at Neptune Mutual
Exploring the Neptune Mutual Marketplace
Essential New Web3 Tools at Neptune Mutual
Ecosystem
Crypto Wallet Drainers and Protecting against Them
No-Code Blockchain Development: Pros and Cons
Understanding Vitalik-Proposed EIP-7702
Exploring Sybil Attacks and Their Prevention
Prevention against Crypto Phishing Attacks
In addition, our security team has been consistent in analyzing exploits and publishing reports regularly. This month, we have published 10 exploit reports on different protocols.
Team
We were recently joined by a new React developer to strengthen our tech team. Welcome to the Neptunite team!