Announcing Support for Juno Network

Chorus One
Chorus One
October 2, 2021
5 min read
October 2, 2021
5 min read

Why we joined Juno

Juno is a fair-launch and interoperable smart contract network launching as a Hub in the Cosmos ecosystem. The goal of Juno is to relieve the computation burden of smart contracts from the Cosmos Hub itself, so the Cosmos Hub can specialise in core activities that strengthen the wider Cosmos ecosystem, such as security. Juno Hub acts as an alternate network that developers can use to develop smart contracts that are programmed in either Rust or Go, and then compiled to CosmWASM. A core element of Juno is the interoperability aspect, whereby developers can be guaranteed that any smart contract they develop in Juno can be ported to any other IBC-compatible Cosmos network.

In many ways, Juno enables Cosmos Hub to remain credibly neutral whilst mitigating typical L1 obstacles such as network congestion and high gas fees. Juno also shares a similar set of stakeholders to Cosmos, so much so that it has decided to airdrop 47% of the token supply to ATOM holders. The airdrop aligns incentives with builders to entice them to develop secure smart contracts on Juno and be rewarded for it.

About Staking on Juno:

Juno is built using Cosmos SDK. Users can delegate their $JUNO to Chorus One using a wallet, such as Keplr.

Validating Rights: The weight of validators is determined by the amount of staking tokens ($JUNO) bonded and/or delegated as collateral.

JUNO Inflation: 40% annual inflation in year 1 descending to 8% annual inflation to year 5. Descending to 1% in years 5–12.

Reward Rate: Rewards from staking JUNO will vary depending on the inflation and total amount of tokens that are staked at a given time. Learn more about the details of staking reward rates for chains built using Cosmos SDK here.

Chorus Commission: 8%

Withdrawal Delay: After withdrawing, your staked funds will only become accessible after the unbonding period (usually 21 days) has passed.

Slashing: You can get slashed (loss funds) in case the validator you are delegated to commits an offense. Make sure to do due diligence to minimize this risk.

Compounding Returns: You need to withdraw rewards and re-stake them with some frequency if you want to make use of compounding returns.

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