Thread by @Cov_duk

#JUNO 101: Enabling cross chain smart contracts

Here's your intro guide to $JUNO, #COMOS' open source platform for interoperable smart contracts

A thread🧵👇

2. Juno is a smart contract blockchain that is part of the #Cosmos ecosystem.

It’s an open source platform of interoperable smart contracts that automatically executes, controls or documents terms of contracts, ensuring that they are valid and usable across multiple networks.

3. The future is def multi chain. Every chain has its limitations. A multi chain futures allows for optimization and specialization.

There are many other in the race to create this multi chain vision.

4. #Cosmos is an ecosystem of sovereign blockchains.

In the cosmos ecosystem, chains use the IBC to communicate and transfer assets, thus benefitting from each other

Check out my Cosmos 101:

https://twitter.com/Cov_duk/status/1500597093869621248

5. Essentially, $JUNO is an L1 in the #Cosmos ecosystem that acts as a sandbox environment for deploying interoperable, cross chain smart contracts.

6. The network serves as a decentralized, permissionless & censorship resistant path for devs to efficiently launch smart contracts using using languages like Rust and Go.

7. It is highly interoperable with other chains thanks to the Inter Blockchain Communication (IBC) protocol that makes it easy to bridge tokens and data.

8. Traditionally, when developers upload their dApps onto a network, they would have to get them approved by the validators.

Only then, they are able to get their dApps onto the ecosystem.

9. #JUNO allows any dev to create any sort of Dapp and put it up on $JUNO.

Devs don’t have to wait for approval to be part of the node.

This allows projects to come onboard faster. However, it also means that even dapps lacking in quality may come onto the platform.

10. #JUNO is also home to CosmWasm smart contracts and the InterWasm DAO, the ecosystem pioneering CosmWasm’s development and adoption.

CosmWasm is a smart contract platform designed for Cosmos.

11. Juno offers the first public and permissionless network for interoperable smart contract deployment.

Combined with Cosmwasm, Juno offers independent projects the option to deploy permissionless dapps and contracts.

12. #JUNO has exploded in popularity due to airdrops that rewarded $ATOM stakers with 47% of the initial supply of $JUNO coins.

The chain has already grown to have dexs and dapps like @junoswapdex

13. $JUNO is the native token. It is used for network fees, governance and staking.

Staking Juno leads to airdrop opportunities, which is big. Here is @cryptolikemo’s article on staking for airdrops. It’s really interesting. It’s really interesting.

https://twitter.com/cryptolikemo/status/1497780470318354440

14. There is a max supply of 185,562,268 $JUNO but the total supply will only be circulating after 12 years.

47% of the total supply was airdropped to $ATOM stakers. Inflation is getting lower with each year until the max supply is reached.

15. The larger #CosmosEcosystem gets, the larger #JUNO gets.

JUNO is really popular in the COSMOS community. At the moment, staking JUNO gives big returns ~100% APR, given that it is quite inflationary (40%)

16. $JUNO recently introduced Prop 16, which is the first time a blockchain community collectively is decides to confiscate a person's wealth due to violation of social contract.

17. Essentially, the Cosmos system faced an attack where one user faked multiple wallets to receive a disproportionate share of a recent airdrop, now containing over 3.1M JUNO tokens.

18. Proposal 16, would reduce the number of tokens in that wallet to 50,000 $JUNO tokens, which the proposal describes as a fair share of the airdrop.

19. The proposal argues that, beyond a matter of simple fairness, the reversal is an existential necessity for Juno, because the whale now has a huge share of the network’s voting and economic power

20. There’s a lot of debate around whether or not this stands with the ethos of crypto.

I won't go into it more, but read more into it, it's a big move that has major implications for the entirety of the crypto space. Voting is live till March 15.
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21. Accounts to follow for $JUNO insights:
@cryptolikemo @larry0x @wolfcontract @daftcryptopunk @TendermintTimmy @JunoNetwork @Wickex2 @TheJunonaut @scrtcosmonaut @InfinityNodez @johnniecosmos @Route2FI @Gojo_Crypto @Cosmos_Airdrops @L1am_Crypto @davey_0602

RT would mean a lot!

22. Accounts to follow for $JUNO insights:
@BrandonComer_ @stakecito @StargazeChad @scrtcosmonaut @EncryptionDog @NauttyByNature @NixiCrypto @Joshyysmartt @Cosmos_Tic @cosmoscoffeeDFI @LiquoredLlama @Muallimin_biri @HeliosChrome @CryptoPanse @_King_Cosmos_ @Ramridingcosmo

23. Hope this was insightful. I regularly post 101s and breakdowns, follow to keep up. Here are some of my past 101s:

https://twitter.com/Cov_duk/status/1500714387417436168