Cosmos is one of the most fascinating and fastest evolving ecosystems in the crypto industry! The number of blockchains integrating IBC (Cosmos’ inter blockchain communication protocol) is growing exponentially. Cosmos Deep Dive gives you a detailed overview of important projects within the Cosmos ecosystem. This article will focus on Juno.
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. It aims to take away the computation burden of smart contracts from the Cosmos Hub, the heart of the Cosmos ecosystem, and let it focus on core activities like, e.g., security.
Juno 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. Developers can programm smart contracts in Rust or Go, which then will be compiled to CosmWASM, a project enabling WebAssembly virtual machines in the Cosmos SDK. WebAssembly allows software written in many languages to run securely on the blockchain.
Furthermore, the protocol tries to tackle everyday obstacles in L1 smart contract networks: low scalability and high costs.
JUNO is the protocol’s native token. The main functions of JUNO 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 Juno 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
- Year 1: 40% fixed inflation
- Year 2: 20% fixed inflation
- Year 3: 10% fixed inflation
- Once the inflation reaches 10% it reduces on a fixed 1% basis each year
- 2033: JUNO will be deflationary
As JUNO is needed for all transactions within the Juno Network, the demand for JUNO will steadily increase. Especially once JUNO will be deflationary and there won’t be any new tokens minted. The incentive structure of the protocol creates a strong buy pressure.
- JunoHack Phase 1
- Mainnet launch on October 1st 2021
- JUNO is now supported on the Cosmostation Mobile Wallet
- 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
Initial Coin Distribution
MapOfZones (number of IBC transfers): https://mapofzones.com/?testnet=false&period=24&tableOrderBy=totalIbcTxs&tableOrderSort=desc