Juno (JUNO)
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Frequently Asked Questions
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Network Security and Governance
Juno is a proof-of-stake blockchain where the JUNO token is used to secure the network by staking. Token holders can participate in on-chain governance by voting on proposals that affect the network’s future.
Smart Contract Platform
Juno is an interoperable smart contract network built on the Cosmos SDK. It allows developers to deploy secure, scalable, and cost-effective smart contracts using CosmWasm, a Rust-based smart contract language.
Gas and Transaction Fees
JUNO tokens act as gas to pay for transaction fees on the network, enabling the execution of smart contracts and inter-chain operations.
Ecosystem and dApps
Juno supports decentralized applications (dApps) including DeFi projects, NFTs, DAOs, and other inter-chain applications. The token captures value from fees generated by these ecosystem activities.
Developer and Community Tools
Juno offers tools for developers to build and grow interchain projects, including features like subscribing smart contracts to on-chain events and pre-paying transaction fees for users to improve experience.
Token Utility and Rewards
JUNO tokens can be staked to earn rewards, and early adopters benefit from higher staking incentives. The token also serves as collateral in various smart contract use cases.
In summary, Juno’s use cases revolve around securing the network, enabling governance, powering smart contracts, supporting a growing ecosystem of dApps, and providing staking rewards.
Last Updated: 6/13/2025 02:04 UTC -
Pros of Juno
- Interoperability and Scalability: Juno is built on the Cosmos SDK, supporting interoperable smart contracts with CosmWasm, allowing developers to deploy secure, multi-chain dApps.
- Community-Driven: It has no venture capital funding and is accountable to its community, promoting decentralized governance.
- Developer Rewards: Developers earn a share of gas fees from their contracts, encouraging innovation.
- User-Friendly Crypto Banking: Juno integrates crypto with banking features, including a checking account that can automatically convert paychecks into crypto.
- No Trading Fees (up to a limit): Crypto trades up to $250,000 have 0% transaction fees, making it cost-effective for users.
- Wide Crypto Support: Supports popular coins like Bitcoin, Ethereum, and stablecoins, with easy conversion and spending options.
- Fast Withdrawals: No holding periods on crypto withdrawals to self-custody wallets.
- Payment and Transfer Features: Offers international money transfers with lower fees than traditional banks and supports crypto payments for merchants.
- Accessible Interface: Simple and clean app design suitable for beginners and everyday users.
Cons of Juno
- Limited Crypto Selection: Compared to some platforms, Juno offers a smaller range of cryptocurrencies.
- Partner Bank Issues: Past difficulties with partner banks have caused temporary suspensions and account freezes.
- Fees on Some Services: While trading fees are low, there are fees for certain actions like ACH returns ($5) and metal card replacement ($60).
- Minimum Requirements: Some features, like crypto paycheck conversion, require a minimum deposit (e.g., $100).
- Evolving Features: Some reward programs and utilities are still under development, so full benefits are not yet clear.
- Price Volatility: The JUNO token price has experienced declines recently, reflecting market fluctuations common in crypto.
For more details, visit Juno's official site.
Last Updated: 6/13/2025 02:04 UTC -
Founders of Juno
Juno was founded in 2019 by three entrepreneurs: Varun Deshpande, Ratnesh Ray, and Siddharth Verma. They previously worked together on the Nuo protocol before starting Juno, which focuses on crypto banking solutions.
Last Updated: 6/13/2025 02:04 UTC -
Investors in Juno
- Venture Capital Firms: Juno has raised funding from well-known investors such as Surge, Dragonfly Capital, ParaFi Capital, Hashed, Mac Private Equity, and Astarc Ventures.
- Funding Rounds: The company raised a total of about $21-22.5 million over multiple rounds, including a Series A round led by ParaFi Capital and Mac Private Equity.
- Other Investors: Additional backers include 6MV, Abstract, Uncorrelated Ventures, Greycroft, and several others, totaling over 30 investors.
- Notable Support: Juno is also backed by Sequoia Surge and Polychain, along with industry-leading executives.
These investors support Juno’s mission to build a crypto-friendly digital banking platform combining cash and crypto services.
Last Updated: 6/13/2025 02:04 UTC -
Halal Status of Juno
- Yes or No: There is no clear, universally accepted ruling specifically on Juno.
- Reason: Islamic scholars generally assess cryptocurrencies based on their use, purpose, and compliance with Islamic finance principles like avoiding riba (interest) and gharar (excessive uncertainty). Juno is a blockchain and crypto platform, but no specific halal certification or fatwa for Juno was found in the latest sources.
- General Guidance: Muslims interested in crypto often consult scholars or rely on lists of cryptocurrencies screened for Shariah compliance. Since Juno is a smart contract platform and digital asset, its halal status depends on how it is used and individual interpretation of Islamic finance rules.
Last Updated: 6/13/2025 02:05 UTC
Description
#1929
Juno is a blockchain platform that supports interoperable smart contracts within the Cosmos interchain network. Juno is built with the Cosmos SDK and connects to other blockchains via the IBC protocol, allowing for a rich and diverse multichain environment.
Sector: | Layer 1 |
Blockchain: | Cosmos |