Staking Project | Juno — A secure and efficient network of interoperable smart contracts
Juno is an interoperable smart contract network developed on the Cosmos SDK that reduces the cost of smart contract deployment while increasing the speed of network transactions. Juno was formerly known as the Smart Contracts feature on Cosmos Hub. In order to maintain the neutrality, performance and reliability of Cosmos Hub, this smart contract functionality was separated from Cosmos Hub by community initiative, resulting in the birth of the Juno network.
The Juno mainnet will be launched on 1 October.
Juno Technical Features
Due to the special connection between Juno and Cosmos, the Juno network fully inherits the advantages of Cosmos in interoperability and scalability: the IBC communication protocol provides data transfer support for cross-chain smart contracts on Juno, the Cosmos SDK framework enables modular compilation of decentralized applications and improves development efficiency, and the Tendermint BFT consensus algorithm guarantees the secure and efficient operation of the Juno network.
By contrast, the adoption of CosmWasm is more characteristic of the Juno network. CosmWasm is a smart contract engine, “a project that enables a WebAssembly (WASM) virtual machine (VM) in the Cosmos SDK”. In other words, a project with a Wasm VM tailored to the Cosmos ecosystem. With CosmWasm, smart contracts can be deployed and tested quickly and securely, with support for compilation in Rust and Go languages, making it very developer friendly.
Juno Staking Status
The Juno network's native token is JUNO, and through Stakedrop, 41% of its Genesis supply will be allocated to addresses in the Stargate ATOM staking snapshot on February 18, 2021 at a ratio of 1:1. These JUNO will be automatically sent to the appropriate addresses when the Juno mainnet goes live on October 1, and no additional claiming operation is required. Stakedrop eligibility can be viewed via the following link: https://stakedrop.junochain.com/.
With this Stakedrop, Juno is effectively assigning network governance to the ATOM stakers who care most about the development of the Juno network and have contributed the most to its pre-construction. The founding principles of Juno state that all JUNO will enter circulation with the launch of mainnet and that there will be no seed sales, private sales or public sales of any kind beyond this.
In Juno’s incentive design, the Juno network will maintain an inflationary economic model for 12 consecutive years to incentivise stakers, with a fixed inflation rate of 40% in the first year after the mainnet goes live, halving to 20% in the second year, continuing to halve to 10% in the third year, and reducing by 1% per year thereafter until inflation is zero; at that point (2033) the total supply of JUNO will peak at 185.562 .268 $ JUNO.
Participation in JUNO staking is not risk-free, as there are two slash mechanisms in the Juno network, a 0.1% soft slash and a 5% hard slash, so principals need to choose the nodes they will delegate to carefully based on the past performance of the validator nodes, and they are also officially advised to diversify their delegation as much as possible. Official data on Github shows that 39 professional PoS validators have already confirmed that they will become Juno Genesis validation nodes. The staked Juno unbinding period is 28 days, and the delegator will not receive the staking reward during this period. It is also worth noting that the staking reward collection function is not yet open.
How to participate in Juno staking
One sentence tutorial: Install and open the Keplr extension from Google Chrome, click on “connect to Keplr” on the Omniflix UI page to log in to the Keplr wallet and select the verification node Wetez for staking.
To install Keplr extension：https://chrome.google.com/webstore/detail/keplr/dmkamcknogkgcdfhhbddcghachkejeap
Omniflix UI address：http://juno.omniflix.co/
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