Difference between revisions of "Juno Network (JUNO)"

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* [https://medium.com/paradigm-fund/daos-juno-chain-proposal-to-confiscate-funds-passed-aave-v3-launched-uniswap-curve-communities-ac6bc45c3a2d From] [[Paradigm]] (3-2022):
* [https://medium.com/paradigm-fund/daos-juno-chain-proposal-to-confiscate-funds-passed-aave-v3-launched-uniswap-curve-communities-ac6bc45c3a2d 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 Attack|sybil attacked]] the initial JUNO [[airdrop]]. While Juno’s airdrop included a 50,000 [[Cosmos (ATOM)|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|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 (ATOM)|Cosmos]] based MLM scheme (which could help explain the high number of wallets involved), as well as [https://twitter.com/wolfcontract/status/1502377253484777480?s=20&t=X_Grc5UuMNs7HBrX0LgQpA 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 [[Over The Counter (OTC)|OTC]] trading activity.''
''"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 Attack|sybil attacked]] the initial JUNO [[airdrop]]. While Juno’s airdrop included a 50,000 [[Cosmos (ATOM)|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|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 (ATOM)|Cosmos]] based MLM scheme (which could help explain the high number of wallets involved), as well as [https://twitter.com/wolfcontract/status/1502377253484777480?s=20&t=X_Grc5UuMNs7HBrX0LgQpA 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|sybil attack]] but represents pooled balances from multiple users or even [[Over The Counter (OTC)|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 ([https://wallet.keplr.app/#/juno/governance?detailId=4 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."''
''This also brings up interesting questions about “double jeopardy”, as a similar proposal for confiscation was rejected shortly after the chain’s genesis ([https://wallet.keplr.app/#/juno/governance?detailId=4 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."''
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Cosmos tip [[address]]: cosmos1j7suqnzfaz2wajvel3p8edjp0qfmaxh3ta33cl
Cosmos tip [[address]]: cosmos1j7suqnzfaz2wajvel3p8edjp0qfmaxh3ta33cl
[[Category:Companies/Organisations]]
[[Category:Coins/Tokens]]
[[Category:Coins/Tokens]]

Revision as of 08:01, 21 March 2022

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

History

Audits & Exploits

Bugs/Exploits

Governance

Admin Keys

DAO

"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."

Treasury

Token

Launch

"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."

Token Allocation

Utility

Other Details

Stablecoin

Coin Distribution

Technology

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

Implementations

Transaction Details

How it works

"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."

Fees

Upgrades

"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."

Staking

Validator Stats

Liquidity Mining

Scaling

Interoperability

Other Details

Oracle Method

Privacy Method

Compliance

Their Other Projects

JunoSwap

"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

Competition

Pros and Cons

Pros

Cons

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)

Funding

Partners

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Cosmos tip address: cosmos1j7suqnzfaz2wajvel3p8edjp0qfmaxh3ta33cl