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README
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Junø
❗️For issue disclosure, check out SECURITY.md ❗️
🚀 For release procedures, check out RELEASES.md. 🚀
Juno is an open source platform for inter-operable smart contracts which automatically execute, control or document a procedure of events and actions according to the terms of the contract or agreement to be valid and usable across multiple sovereign networks.
Juno is a sovereign public blockchain in the Cosmos ecosystem. It aims to provide a sandbox environment for the deployment of such inter-operable smart contracts. The network serves as a decentralized, permissionless, and censorship resistant zone for developers to efficiently and securely launch application specific smart contracts. Developers can leverage proven frameworks and compile code in various languages, like Rust & Go with the potential future addition of C and C++. Battle-tested contract modules such as CosmWasm will allow for decentralized applications (dApps) to be compiled as robust and secure multi-chain smart contracts. EVM support and additional specialized modules can be introduced after genesis subject to onchain governance.
At the heart of Cosmos is the Inter Blockchain Communication Protocol (IBC), which sets the table for an inter-operable base layer 0 that can be used to transfer data packets across thousands of independent networks supporting IBC. Naturally, the next evolutionary milestone is to enable cross-network smart contracts.
The Juno blockchain is built using the Cosmos SDK framework. Cosmos SDK is a generalized framework that simplifies the process of building secure blockchain applications on top of Tendermint BFT. It is based on two major principles: Modularity and capabilities-based security.
Agreement on the network is reached via Tendermint BFT consensus.
Tendermint BFT is a solution that packages the networking and consensus layers of a blockchain into a generic engine, allowing developers to focus on application development as opposed to the complex underlying protocol. As a result, Tendermint saves hundreds of hours of development time.
Juno originates from a community driven initiative, prompted by developers, validators and delegators in the Cosmos ecosystem. The common vision is to preserve the neutrality, performance, and reliability of the Cosmos Hub. This is achieved by offloading smart contract deployment to a dedicated sister Hub. Juno plans to make an early connection to the Cosmos Hub enabling IBC transfers, cross-chain smart contracts and shared security.
A decentralized launch of the Juno main-net was enabled by a large set of independent validators from across the blockchain space. $JUNO, the native asset, has many functions like securing the Juno Hub and serving as a work token to give access to on-chain governance voting rights and to provide utility in the deployment and execution of smart contracts.
What differentiates JUNO from other Smart Contract networks?
⚪️ Interoperable smart contracts
⚪️ First mover advantage
⚪️ Open source
⚪️ Permissionless
⚪️ Modular
⚪️ Wasm + (EVM)
⚪️ Compilation in multiple languages Rust & Go (C,C++)
⚪️ Highly scalable
⚪️ Ease of use/developer ergonomics
⚪️ Free & fair asset distribution (100% to staked atom only)
⚪️ Onchain governance
⚪️ Balanced governance (Zero top heavy control)
⚪️ Grass roots community
⚪️ Decentralized
Tokenomics & reward shedule (updated on 24.07.2021)
⚪️ Ticker: JUNO
⚪️ Decimals: 6
⚪️ Unit: uJuno
⚪️ Supply: Snapshot of Cosmoshub-3 at 06:00 PM UTC on Feb 18th 2021
⚪️ Rewards: Fixed yearly reward schedule (Reward model below)
⚪️ Community pool tax: 5% of block rewards
✅ Circulating supply at genesis 64.903.243 $JUNO (64.9 Million)
✅ Max supply (After year 12): 185.562.268 JUNO (185.5 Million)
Supply Breakdown
⚪️ Stakedrop: 30.663.193 $JUNO
⚪️ Community Pool: 20.000.000 $JUNO
⚪️ Development Reserve (Multi-sig): 11.866.708 $JUNO
⚪️ Smart Contract Challenges: 2.373.341 $JUNO
Genesis Distribution
A 1:1 stakedrop is allocated to $ATOM stakers, giving the $JUNO genesis supply to staked $ATOM balances that had their assets bonded at the time of the Stargate snapshot on Feb. 18th 6:00 PM UTC. Addresses that qualify are included in the JUNO genesis block at launch. All exchange validators & their delegators are excluded from the genesis allocation. Additionally any unbonded ATOM at the time of the snapshot is excluded. A whale cap was voted in by the community, effectively hard-capping $ATOM accounts at 50 thousand $ATOM in order to ensure a less top heavy allocation. Approx 10% of the supply difference is allocated to the development reserve (multi-sig) address for the funding of core-development efforts. The remaining 90% of the excess supply to be allocated in the following ways (20 million $Juno community pool, Smart contract competition 2.373.341,66 million to be managed/distributed by the multi-sig committee. The remaining difference will not be included in the genesis file ie. burned)
Reward Schedule
⚪️ Phase 1: Fixed inflation 40%
New Juno in year 1 = (+25.961.297)
Supply after year 1 = 90.864.540 $JUNO
⚪️ Phase 2: Fixed inflation 20%
New Juno in year 2 = (+18.172.908)
Supply after year 2 = 109.037.449 JUNO
⚪️ Phase 3: Fixed inflation 10%
New Juno in year 3= (+10.903.744)
Supply after year 3 = 119.941.194 JUNO
Once the inflation reaches 10% it gradually reduces on a fixed 1% basis each year.
⚪️ Phase 4 = Fixed 9% (+10.794.707) Supply = 130.735.901 JUNO
⚪️ Phase 5 = Fixed 8% (+10.458.872) Supply = 141.194.773 JUNO
⚪️ Phase 6 = Fixed 7% (+9.883.634) Supply = 151.078.407 JUNO
⚪️ Phase 7 = Fixed 6% (+9.064.704) Supply = 160.143.112 JUNO
⚪️ Phase 8 = Fixed 5% (+8.007.155) Supply = 168.150.267 JUNO
⚪️ Phase 9 = Fixed 4% (+6.726.010) Supply = 174.876.278 JUNO
⚪️ Phase 10 = Fixed 3% (+5.246.288) Supply = 180.122.566 JUNO
⚪️ Phase 11 = Fixed 2% (+3.602.451) Supply = 183.725.018 JUNO
⚪️ Phase 12 = Fixed 1% (+1.837.250) Supply = 185.562.268 JUNO
JUNO MAX SUPPLY (185.5 Million)
After year 12 the inflation reward schedule ends. Network incentives would primarily come from smart contract usage and regular tx fees generated on the network.
Juno is a blockchain built using Cosmos SDK and Tendermint and created with Starport.
Get started
If you have Docker installed, then you can run a local node with a single command.
STAKE_TOKEN=ujunox UNSAFE_CORS=true docker-compose up
Learn more
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