You can now secure the Juno Network and participate in onchain governance all via the Cosmostation Mobile Wallet.
How to set up Cosmostation?
- Download Cosmostation for Android or IOS from the Google Playstore or Apple App Store.
- Open the app and create a new wallet or import an existing wallet.
Write down your mnemonic words (This is the most important step!) If you loose your mnemonic words you loose access to your Juno forever.
- Once your wallet is backed up, go to the top right of your screen and click on the network selection icon. Now scroll down on the left side and look for the Juno Icon.
- Once selected you can set up to 5 unique wallets. (Note! Each wallet has its own Mnemonic!) So in case you want to have multiple addresses you need to write all your mnemonics down before moving any $Juno to these addresses.
How to stake (Delegate) your Juno?
- Transfer Juno to your receiving address.
2. Start the staking (delegation) process by clicking the “Delegate” Icon.
3. Select the Icon in the middle named “Top”. This will give you a list of all network validator nodes that you can delegate your Juno to.
4. On the right side of your screen you may sort Validators by Voting Weight, APY or Name. Then proceed by clicking on your preferred choice. For demonstation purposes we are going to use Cosmostation Validator as our validator of choice.
5. Proceed by entering the desired delegation amount. (Note: Always keep at least 0.1 Juno in your available balance in order to cover future delegation/re-invest fees). Complete step 1 by clicking “next” in the bottom right corner of your screen.
6. You can skip the following step 2. (Note: There is no need to insert a memo text unless desired by the delegator for personal bookkeeping convenience or when sending tx to an exchange). Simply click “next” again and proceed with step 3.
7. Choose the delegation tx fee. Selecting the “Tiny” option works perfectly well. Your tx will still get confirmed within 6–7 seconds. Complete step 3 by clicking “next”.
8. The final step will simply ask your to review the tx details. If your satisfied with the delegation destination simply click “next” one last time.
9. Congratulations. Your delegation process is now complete. You are securing the Juno Network on a non-custodial basis with a validator node. A confirmation text will appear for your convenience. The process is now complete.
How long do my Juno remain staked?
Your Juno will remain staked forever or until you manually make an “un-delegation” tx.
How long is the un-delegation period?
Will i earn rewards during the un-bonding period?
What are the risks involved with delegating to a validator?
The risks are soft and hard slashes.
How much do i loose if the validator gets soft-slashed?
0.01% of your staked assets.
Do soft-slashes happen frequently?
They can happen if a validator misses more than 10000 blocks. This does not happen frequently but it may occur.
How much do i loose if a validator gets hard-slashed?
The validator and delegators loose 5% of their staked assets.
Do hard-slashes happen frequently?
No. They happen extremely rarely and in most cases it would require some malicious intent (For validators, delegator trust is the top priority so doing this on purpose serves nobody).
Once delegated to a validator can i switch my delegation to another validator?
Yes. Re-delegations are possible without a 28 day penalty.
Who should i delegate to?
The best thing you can do for the Juno Network is to spread out your delegations to many validators. This will decentralize the network.
⚪️ Web: https://junochain.com/
⚪️ Medium: https://medium.com/@JunoNetwork
⚪️ Discord: https://discord.gg/QcWPfK4gJ2
⚪️ Twitter: https://twitter.com/JunoNetwork
⚪️ Price Discussions: https://t.me/Juno_Price