Juno is one of the most exciting and promising projects within the Cosmos ecosystem. The protocol handels is the third largest in terms of daily IBC transfers.
But what is the project all about? And what do the tokenomics of JUNO look like?
What is Juno?
Juno is a fully interoperable smart contract network built with the Cosmos SDK. The protocol runs as a Hub in the Cosmos ecosystem and has IBC naturally integrated. Through the integration of IBC, Juno Network can transfer data packets across a variety of independent networks supporting IBC. Generally speaken the project aims to take away the computation burden of smart contracts from the Cosmos Hub. Juno lets it focus on core activities like, e.g., security.
The protocol automatically executes, controls, or documents relevant events and actions according to the terms of such a contract or agreement to be valid and usable across multiple sovereign networks. Moreover, developers can programm smart contracts in Rust or Go, which then will be compiled to CosmWASM. CosmWASM is a project enabling WebAssembly virtual machines in the Cosmos SDK. WebAssembly allows software written in many languages to run securely on the blockchain.
In addition, the protocol offers high scalability and low costs.
Another important part of the protocol is the project’s native token: JUNO. The main functions of the token include securing the network, which runs a Proof-of-Stake consensus algorithm, governance participation, and various use cases connected to smart contracts like usage of JUNO as collateral or as a transport fuel for the execution of smart contracts.
As a dedicated sister Hub to the Cosmos Hub, the project decided to airdrop 47% of JUNO’s genesis supply to ATOM stakers on a 1:1 basis. As developers play a crucial role in the ecosystem, the protocol’s community pool has one of the most significant genesis allocations in the whole Cosmos ecosystem! The community pool focuses on supporting upcoming initiatives and providing a funding kickstart.
Good to know
Incentive Structure / Buy Pressure
- 1st Year: 40% fixed inflation
- 2nd Year: 20% fixed inflation
- 3rd Year: 10% fixed inflation
- If the inflation reaches 10%, it reduces on a fixed 1% basis each year
- 2033: JUNO will be deflationary
As the cryptocurrency is needed for all transactions within the network, the demand for the token will steadily increase. Especially once JUNO will be deflationary. Besides, new tokens won’t be minted. As a result, the incentive structure of the protocol creates strong buying pressure.
Latest developments in Juno Network
- JunoHack Phase 1
- Mainnet launch on October 1st 2021
- Cosmostation Mobile Wallet now supports Juno
- Integration on Osmosis AMM (Incentivized Pools) (Oct. 15th)
- Triple incentivized for next 180 days
- Moneta Upgrade (CosmWASM Smart Contract Module 1.0 coming to Juno Hub) (no date announced yet)
- JunoHack Phase 2
Tokenomics/Key Metrics of Juno
Initial Coin Distribution
MapOfZones (number of IBC transfers): https://mapofzones.com/?testnet=false&period=24&tableOrderBy=totalIbcTxs&tableOrderSort=desc