Dec 9, 2021
Junø Network: An Interoperable Smart Contracts’ Platform on Steroids, built on Cøsmos!
On December the 15th 2021, the #Moneta upgrade goes live on Junø Network, enabling smart contracts on Junø Mainnet.
What is Juno?
Juno is a sovereign public dPoS Network in the Cosmos ecosystem, aiming to provide a sandbox environment for the deployment of interoperable smart contracts. The network serves as a decentralised, permission-less & censorship resistant avenue for developers to efficiently and securely launch application specific smart contracts in Rust & Go with the potential future addition of C and C++.
Battle tested modules such as CosmWasm, will allow for decentralised applications (dapps) to be compiled on robust and secure multi-chain smart contracts. EVM support and additional specialised modules may be enabled after genesis subject to on chain governance.
At the heart of Cosmos is the Inter Blockchain Communication Protocol (IBC), that already enables transfer data packets across dozens of independent networks supporting IBC. Naturally, the next evolutionary milestone was to enable cross-network smart contracts.
Juno Network is the the first sovereign, scalable, interoperable network/ecosystem of smart contracts/dapps/tools!
For more info see:
Community is at the forefront and heart of the project / Token Economics
Junø Network launched by distributing tokens to staked $ATOM holders only, based on a snapshot of CosmosHub-4 (Stargate Upgrade) going live in February 2021.
Not only this, but token holders staking with exchanges did not qualify for the stakedrop whereas $ATOM whales did not receive more than 50,000 tokens as there was a whale cap.
This resulted in ~50,000 addresses receiving ~31 million tokens (47.24% of the supply), whereas 20 million is on the community pool (30.82%)! Ten million tokens are reserved for development spending in which core team cannot participate/get funded from (15.54%).
2.3 million will be dedicated to incentivised events (JunoHacks) (3.6%).
Team only holds a 2.7% of the initial supply vested and released gradually and proportionally over 12 years!!!
For more info visit:
Incentive Structure
Reward Schedule
The Juno rewards model distributes a fixed amount of $JUNO per block, which is calculated by the network and depends on the inflation rate as well as network block time. Variation in the network block time will cause variation in the calculable annual percentage rate (APR).
⚪️ Phase 1: Fixed inflation 40%
New Juno in year 1 = (+25.961.297)
Total supply after year 1 = 90.864.540 $JUNO
⚪️ Phase 2: Fixed inflation 20%
New Juno in year 2 = (+18.172.908)
Total supply after year 2 = 109.037.449 $JUNO
⚪️ Phase 3: Fixed inflation 10%
New Juno in year 3= (+10.903.744)
Total supply after year 3 = 119.941.194 $JUNO
Once the inflation reaches 10% it gradually reduces on a fixed 1% basis each year.
⚪️ Phase 4 = Fixed 9% (+10.794.707) Total supply = 130.735.901 $JUNO
⚪️ Phase 5 = Fixed 8% (+10.458.872) Total supply = 141.194.773 $JUNO
⚪️ Phase 6 = Fixed 7% (+9.883.634) Total supply = 151.078.407 $JUNO
⚪️ Phase 7 = Fixed 6% (+9.064.704) Total supply = 160.143.112 $JUNO
⚪️ Phase 8 = Fixed 5% (+8.007.155) Total supply = 168.150.267 $JUNO
⚪️ Phase 9 = Fixed 4% (+6.726.010) Total supply = 174.876.278 $JUNO
⚪️ Phase 10 = Fixed 3% (+5.246.288) Total supply = 180.122.566 $JUNO
⚪️ Phase 11 = Fixed 2% (+3.602.451) Total supply = 183.725.018 $JUNO
⚪️ Phase 12 = Fixed 1% (+1.837.250) Max supply = 185.562.268 $JUNO
As is obvious above the supply in the Network is capped. Early adopters benefit from high inflation that goes through halvenings twice aka in the second and third years.
So, what happens in year 12 when inflation bottoms at 0%? All dapps/contracts need $JUNO as fuel. As inflation gradually drops, tx fees and stakedrops will replace and exceed the old incentive structure.
Juno #Moneta Upgrade
ethereum brought smart contracts to the space, Solana has been an effort to improve scalability , Junø takes smart contracts to the next level by utilising the Cøsmos stack, its battle tested interoperability (IBC) in particular.
The last missing piece to complete the Juno core network architecture is now coming to mainnet via the Moneta upgrade on the 15th of December. The CosmWasm 1.0 smart contract module opens up the path to innovation and adoption on Junø and provides the Cøsmos ecosystem at large with a powerful environment for smart contract deployment.
Examples of what the Upgrade Enables:
- Create your CW20 Token
Easily deploy a Smart Contract for a Standard, Capped, Mintable, Burnable CW20 Token.
CW20 Generator is the easiest and fastest way to create your own CW20 token on the Juno network. No coding skills are required.
- JunoSwap a Native DeX
Soon after the Monmeta Upgrade, you will be able to use the Native AMM to trade between $JUNO/$ATOM, JUNO/UST and $JUNO with CW20 assets created on the network.
You will be able to pool liquidity of assets and swap on the DeX.
- Thriving Ecosystem of tools, dapps, contracts
Discover a wide variety of dapps, contracts and tools, built in the Junø ecosystem by developers and contributors from across the globe:
