Juno Network (JUNO)

Juno as a sovereign public blockchain in the Cosmos ecosystem aims to provide a sandbox environment for the deployment of such interoperable smart contracts.

Basics

• Based in:
• Started in / Announced on:
• Testnet release:
• Mainnet release: 1-10-2021

History

• From Blockthreat (12-5-2022):

"Juno Blockchain community votes on the governance proposal to confiscate $36M of JUNO tokens from an investor, but ends up transferring them to the wrong wallet."

• From Paradigm (3-2022):

"After the initial airdrop distribution was gamed by a single party to evade per address limits, the Juno community is considering removing most of their funds retroactively. With Proposal 16 attempting to remove funds from a large holder who seems to have sybil attacked the initial JUNO airdrop. While Juno’s airdrop included a 50,000 ATOM maximum cap to help improve network decentralization, shortly after genesis the offending user consolidated proceeds from 52 wallets into a single account — indicating a single entity had split funds among many different wallets. This now presents serious risks to the project, with the 3 million JUNO tokens (worth $120 million at time of writing) able to drain existing liquidity pools and also over 50% of the voting power required to meet quorum for governance proposals. Crypto pseudonymity makes attribution difficult, but on-chain records seem to indicate a connection with an old Cosmos based MLM scheme (which could help explain the high number of wallets involved), as well as relations with a particular validator. At present, the vote seems to be falling in favor of confiscating the majority of funds and sending them back to the community pool, reducing the wallets balance back to the intended limit. But not everyone is happy with this outcome, as it contradicts widely held views that transactions and balances should be largely self sovereign and immutable. It also remains possible (although unlikely) that this was not a sybil attack but represents pooled balances from multiple users or even OTC trading activity.

This also brings up interesting questions about “double jeopardy”, as a similar proposal for confiscation was rejected shortly after the chain’s genesis (proposal 4). Nothing in Cosmos code can prevent resubmitted proposals, funds confiscation, or other controversial governance measures. This indicates social consensus on ground rules and legitimate scope of chain governance — among both token holders and validators — will play an important role in the Cosmos ecosystem going forward."

Audits & Exploits

• Bug bounty program can be found [insert here].

Bugs/Exploits

• From Tally (16-4-2022):

"Juno faces unscheduled downtime caused by targeted consensus exploit."

Token

Launch

• From this Citadel One post (7-2-2022):

"The Juno Network had its decentralized launch on October 1st, 2021. It launched by distributing tokens to staked $ATOM holders only, based on a snapshot of CosmosHub-4 (Stargate Upgrade) going live in February 2021."

Utility

• Staking, gas, governance, collateral in various smart contract use-cases (7-2-2022).

Technology

• Whitepaper or docs can be found [insert here].
• Code can be viewed [insert here].

Implementations

• Built on: Cosmos SDK
• Programming language used: Tendermint

Transaction Details

• Capacity (TPS):
• Latency:

How it works

• From this Citadel One post (7-2-2022):

"Juno is a permission-less interoperable smart contract network that automatically executes, controls, or documents a procedure of relevant events and actions according to the terms of such contract or agreement to be valid & usable across multiple sovereign networks. The network serves as a decentralized, permission-less & censorship-resistant avenue for developers to efficiently and securely launch application-specific smart contracts using proven frameworks and compile them in various languages Rust & Go with the potential future addition of C and C++. Battle-tested modules such as CosmWasm will allow for decentralized applications to be compiled on robust and secure multi-chain smart contracts. EVM support and additional specialized modules to be enabled after genesis subject to on-chain governance."

Upgrades

• From this Citadel One post (7-2-2022):

"The last missing piece to complete the Juno core network architecture came to mainnet via the Moneta upgrade on December 15th, 2021. The CosmWasm 1.0 smart contract module opened up the path to innovation and adoption on Juno and provided the Cosmos ecosystem at large with a powerful environment for smart contract deployment."

Their Other Projects

JunoSwap

• From this Citadel One post (7-2-2022):

"This January the network launched JunoSwap. It is now in Beta with 11 projects from the Cosmos featured on it. There are currently no incentives on the DEX but that will change in February with the launch of $RAW. JunoSwap is governed by the JunoSwap DAO which is in charge of shaping the future of the dex. RAW will be the governance token of the DAO and will be used to incentivize the Liquidity Pools on the DEX."

Roadmap

• Can be found [Insert link here].

Usage

Projects that use or built on it

• From Figment (4-2022):

"The first NFT Marketplace, Passage, has launched on Juno. Passage is an online 3D space that allows users to have meetings, video chats, conferences, presentations and collaborations in a metaverse setting."

Pros and Cons

Cons

• Has voted to take away funds from 1 address and then sent those funds to the wrong burner address. This shows that the community is willing to confiscate user's capital and that the team is not careful when doing huge tx (12-5-2022).

Team, Funding and Partners

Team

• Full team can be found [here].

• Andrea Di Michele — Dimi (stakefish)
• Wolfcontract (SG-1)
• Blockcreators
• Jake Hartnell (Stargaze.Zone)
• Jack Zampolin (Strangelove Ventures)

(:

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