What is the Juno Network (JUNO)?
Juno Network (JUNO) is a smart contract platform on the Cosmos Network. How does this protocol work? Learn more about JUNO token’s tokenomics here!
What is the Juno Network?
Juno Network is a smart contract platform built on top of Cosmos Network using Tendermint Core and the Cosmos SDK.
Juno originated and grew out of a community-driven initiative, driven by dozens of developers, validators, and delegators in the Cosmos ecosystem. The common vision is to maintain the neutrality, performance, and reliability of the Cosmos network.
Highlights of Juno Network (JUNO)
Here are some of Juno Network’s highlights:
- Use CosmWasm, the native language of Cosmos.
- With the Tendermint core framework and Cosmos SDK, allowing Juno Network to achieve high scalability.
- Juno Network will use the shared security service of Cosmos Hub. This helps the Juno network achieve higher security.
- With the development of IBC, in the future, the Juno network can easily deploy multi-chain smart contracts on the Cosmos network.
Token Information of Juno Network (JUNO)
JUNO Key Metrics
- Token Name: JUNO
- Ticker: JUNO
- Blockchain: Juno Blockchain.
- Token Standard: a native token of the Juno network
- Token type: Governance & Utility
- Total Supply: 185,562,268 JUNO (will reach max supply in 2033)
- Circulating Supply: 79,509,430 JUNO (August 17, 2023)
JUNO Token Allocation
JUNO Genesis Supply Allocation:
- Stakedrop: 47.24%
- Community pool: 30.82%
- Core development: 15.54%
- Junohacks: 3.66%
- Core-1 team: 2.74%
In addition, Juno Network uses a fixed reward per block model, which is calculated by the Juno network and depends on the network’s inflation rate and block time.
Stage 1: Fixed inflation 40%
- New Juno in year 1 = 25,961,297 JUNO
- Total supply after year 1 = 90,864,540 JUNO
Stage 2: Fixed inflation 20%
- New Juno in year 2 = 18,172,908 JUNO
- Total supply after year 2 = 109,037,449 JUNO
Stage 3: Inflation is fixed at 10%
- New Juno in year 3 = 10,903,744 JUNO
- Total supply after year 3 = 119,941,194 JUNO
When inflation reaches 10%, it will taper off on a fixed 1% per year basis.
Stage 4: Fixed 9%
Stage 5: Fixed 8%
Stage 6: Fixed 7%
…
JUNO Token Sale
The project does not sell tokens to investors. Genesis supply is allocated to ATOM stakers and project developers.
JUNO Token Use Case
Some applications of the JUNO token:
- Stake Asset: Securing Juno network through PoS Blockchain’s staking and slashing mechanisms
- Governance: Juno holders can participate in voting related to Juno Network governance issues.
- Transaction fee: JUNO is used as a gas fee on the Juno Network.
How to earn and own JUNO tokens
There are three popular ways to earn JUNO tokens at the moment:
- Buy JUNO on supported exchanges.
- Become validators or delegators of the Juno Network.
- Participate in Dapp development on the Juno Network.
Storage wallet & exchange JUNO
JUNO token storage wallet
JUNO is the native token of the Juno Network. JUNO holders can store JUNO in Keplr Wallet and Cosmostation Wallet.
JUNO token exchange
JUNO can be traded on exchanges such as Osmosis, MEXC, and Bitget.
Roadmaps & Updates
Juno’s Vision: The Interchain Incubator
In the Interchain landscape, projects have two primary options for launch:
1. Deploy a native app chain, which demands significant time and resources; or
2. Utilize an established L1, offering community, tooling, infrastructure, security, and a permissionless environment for the most efficient market entry.
Juno paves the way for the second option, facilitating rapid project development and iteration, enabling engagement with one of the most active communities within the Interchain, and helping projects find product-market fit before launching their own Mesh-Secured L1.
Juno Evolution: Key Initiatives
1. Mesh Security: Designed to maximize security and align economic incentives with other L1 blockchains. This initiative will enhance Juno’s overall security while fostering collaboration and a seamless flow of economic value within the Interchain.
2. Governance Advancement: This effort will establish Juno as the leading Interchain DAO. By leveraging DAO DAO’s flexibility, we will enhance adaptability, collaboration, and resource efficiency for Juno and projects on Juno, while enriching innovation across the entire ecosystem.
3. A Technical Roadmap: To elevate Juno’s current capabilities, this initiative will establish Juno as one of the most powerful Layer 1 platforms. Emphasizing performance, scalability, and throughput improvements will solidify Juno as the premier platform for project launches.
Recent Updates
In proposal 311, Juno Invictus Upgrade (v16) is an upgrade that includes migrating Juno’s entire codebase to SDK v47 and CometBFT v0.37, adding Async Interchain Queries, Skip’s protocol-owned MEV builder, and the x/NFT module.
Teams, investors, and partners
Development team
The project has not announced the details of the Juno Network development team.
Investors
Juno Network is a community-driven project. They do not sell tokens to any investment funds. Currently, there is no fund or organization that has publicly announced its position on JUNO.
Partnership
Some prominent partners of Juno Network include Kepler Wallet, Cosmostation, Cosmos Network,...
Summary
Above is updated information about Juno Network and the JUNO token. What do you guys think about this project? Please comment below to discuss with Beehive!
