Stake JUNO with Kiln, enterprise-grade staking
What is JUNO?
Juno is an interoperable smart contract network built on the Cosmos Network. The Juno platform allows for smart contract deployment and cross-chain communication within Cosmos. Through the Cosmos SDK the Juno network was made to address the scalability issues and high costs that come with smart contract deployment.
Is JUNO Network a Proof-of-Stake blockchain?
The Juno network is secured using the PoS consensus algorithm. By using your assets to secure the system, you can retain rewards in line with the inflation of the network. Seeing that JUNO is a newer platform comparatively, there are no fees connected to it for the time being. Rewards are gained from the internal system from validating blocks through staking JUNO.
What is staking?
Staking is the locking of tokens into a smart contract for the validation or attestation of blocks. In Proof-of-Stake protocols, validators receive compensation by securing the network through staking. Staking is now more popular than the previous Proof-of-Work consensus algorithm that many earlier chains were built with.
By locking a protocol’s native tokens (ie JUNO) to give “validators” the right to secure a chain. Validators propose new blocks or attest other validators’ blocks, gaining rewards for doing so.
Why should you stake your assets?
When you stake your tokens you can make secure and predictable rewards through a process that is well-calculated and efficient. Tokens produced during the process of consensus come from the blockchain’s natural inflation of its currency. This is something that can be foreseen. While staking JUNO you have the opportunity to make rewards while securing the network.
- Put your treasury to work
- Diversify and earn
- Bring new opportunities by enabling your users to earn staking rewards
How to stake JUNO with Kiln?
- Install the Keplr wallet extension, if possible with a hardware wallet, and deposit your JUNO tokens
- From the wallet extension, access the Keplr dashboard
- In the left panel, select the "Juno" network
- Head to the Staking tab in Keplr dashboard
- Search for the "Interop" validator
- Select the amount you wish to stake, click on "Delegate"
- Confirm the transaction on Keplr wallet
- You will begin receiving rewards on your staked JUNO after 21 days
The unbonding period for JUNO is 28 days, however, you can re-delegate to another JUNO validator at any time without having to wait. Rewards are sent to your wallet after every block your stake helps to create.
What are the rewards associated with staking JUNO?
As an incentive for helping to safeguard the network, you can earn up to 28.98%* GRR from each validator you stake on Kiln. (Source: https://protocolstaking.info/)
Why should you stake your JUNO with Kiln?
Kiln has a dedicated team of experts that are knowledgeable and enthusiastic about staking different kinds of cryptocurrency. Juno is one of the latest in Kiln’s growing portfolio. Kiln is the leading enterprise-grade staking platform, enabling institutional customers to stake JUNO and to whitelabel JUNO staking functionality into their offering.
- Stake JUNO in 1 click
- Manage all your JUNO stakes and rewards from a single dashboard
- Non-custodial, work with your existing custodians solutions e.g.Fireblocks
- SOC 2 Type II certified and Industry leading SLAs (0 penalties recorded and 99.95% effective uptime)
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Stake Juno FAQ
What does Proof-of Stake mean?
Proof-of-Stake (PoS) is a type of consensus mechanism used to validate cryptocurrency transactions. Through PoS, validators can contribute to the block production of a chain while keeping environmental concerns to a minimum, which is becoming an increasingly large issue in Proof-of-Work.
By staking capital rather than energy, validators risk losing a portion of their value and future potential for staking by misbehaving while creating blocks. This incentivizes collaboration and minimizes malicious activity in the consensus process.
When will I receive JUNO rewards?
JUNO rewards can be claimed at any time and are allotted after each block produced (6 seconds). Rewards are accumulated through newly distributed tokens created through consensus creation. You can claim rewards through your connected wallet.Inflation also plays a large role in the distribution of JUNO rewards as the amount of new coins introduced to the ecosystem reduces as a percentage each year.
What are the risks associated with staking JUNO?
Slashing exists on the JUNO platform as it does with many other PoS systems. Underperformers and stakers with high downtime risk losing some of their stake to the network. Chronic downtime and consistent malicious activity can lead to ‘tombstoning’ which is the equivalent of a ban from staking JUNO in future.
Is there a minimum and maximum amount to stake for JUNO?
There is no minimum staking amount for the JUNO platform. However, there is a fee associated with it which you will need to have above and beyond what you want to stake.
Do I maintain custody of my JUNO tokens? Is JUNO staking non-custodial?
While you may maintain self-custody of your staked JUNO (ideally using a Ledger hardware wallet), you may also choose a third-party custodian to control the withdrawal of your staked JUNO (i.e. Fireblocks).
What is the lockup period to stake JUNO? When can I unstake and withdraw my JUNO?
The lockup period for JUNO is 28 days. Rewards are not compounded and therefore appear in your wallet each time that you are awarded them. If you should choose to delegate your JUNO to another validator, this can be done at any time without unstaking. This is a process called re-delegating.
How rewards and penalties work?
Rewards are distributed every time a block is produced. These rewards will, in future, be made up of transaction fees from the block, and new JUNO introduced to the ecosystem through consensus. The inflation of JUNO reduces per year, starting at 40% inflation in the first year and getting reduced down to 1% inflation per year after 12 years.
Penalties for downtime and double signing are a 0.01% and 5% slashing of stake respectively. Downtime accounts for inactivity after 10,000 blocks.
What is the average block time on JUNO?
The average block time on JUNO is ~6 sec.
What is a Gross Reward Rate (GRR) and how is it different from a Net Reward Rate (NRR)?
In the context of Proof-of-Stake blockchains, the gross reward rate (GRR) refers to the total or gross amount of rewards earned from staking before deducting any fees or expenses. This is a reward rate that fluctuates with the operations of the protocol and the performance of validators, it is not set by Kiln. The net reward rate (NRR), on the other hand, takes into account the deductions or expenses, providing a measure of the actual rewards received after subtracting fees or costs.