JUNO Staking Overview
JUNO (JUNO) is a cryptocurrency that powers the Juno blockchain, a smart contract platform in the Cosmos ecosystem. It enables developers to deploy interoperable smart contracts using languages like Rust and Go, while JUNO is used to pay for network fees, governance, and staking to secure the chain. Staking JUNO is a way to earn passive income by locking up tokens and delegating them to a validator node that secures the network and executes smart contracts. Learn how to stake JUNO in just few easy steps!
How to Stake JUNO (JUNO)
There are different ways of staking JUNO (JUNO) but one of the most popular and reliable methods includes using the Keplr wallet. Staking through Keplr has several advantages, including the ability to ensure enterprise-grade security for your wallet by integrating a Ledger hardware wallet. This staking guide offers a clear and comprehensive set of instructions on how to stake JUNO (JUNO) using the Keplr wallet in a step-by-step manner.
Step 1 – Get a Keplr wallet
Step 2 – Get some JUNO tokens
Step 3 – Confirm the deposit transaction
Step 4 – Delegate your stake
Step 5 – Track your stake and rewards
Step 1 - Get a Keplr wallet
To begin staking JUNO, you need to download and install the Keplr browser extension from the official website, create a new account, and set a password. Don’t forget to back up your recovery phrase for wallet security. Once your account is set up, you will need to add the Juno network to your Keplr wallet by clicking on “Add Network.”
Step 2 - Get some JUNO tokens
To get JUNO tokens, buy them from centralized exchanges like Kraken or MEXC, or swap tokens directly from your wallet using decentralized exchanges like Osmosis Dex. To use Osmosis Dex, first, get OSMO tokens in your Keplr wallet, swap them for JUNO tokens on the Osmosis Dex “Swap” page, and withdraw the JUNO tokens to your Keplr wallet on the Osmosis Dex “Assets” page.
Step 3 - Confirm the deposit transaction
To stake JUNO, go to the staking portal, connect your Keplr wallet, and choose a validator carefully based on commission rate, voting power, uptime, and reputation. The commission rate is the fee percentage, voting power is the influence on governance decisions, uptime is the reliability, and reputation is the track record of the validator. Check the validator’s commission change rate and history, missed blocks and precommits, social media presence, transparent identity and team, and reviews from other delegators.
Step 4 - Delegate your stake
To delegate your stake to a validator, click the “Delegate” button next to their name on the staking portal. Enter the amount of JUNO you want to stake, leaving some for transaction fees. Click “Next” and confirm the delegation on your Keplr wallet. Check your staked tokens and rewards on the staking portal dashboard under the “Dashboard” tab.
Step 5 - Track your stake and rewards
You can track and claim your rewards on the staking portal dashboard. Claiming your rewards will reset your reward period, so you may want to claim them periodically or when they reach a certain amount. You can also reinvest your rewards by staking them again manually or through an auto-reinvest feature if one is available.
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Best Places to Stake JUNO (JUNO)
Several alternatives are accessible for staking JUNO, and each has its own set of advantages and disadvantages. Below are some platforms where you can stake your JUNO:
Meria is a staking platform that allows users to stake various tokens and blockchains, including JUNO (JUNO), with a high annual percentage yield of 31%. By staking on Meria, users can earn passive income while supporting the growth and innovation of the JUNO network. Staking on Meria requires users to maintain diligence and responsibility, including monitoring validator performance, keeping the Keplr wallet secure, and participating in network governance.
- Investors can earn a high APY of 31% by staking their JUNO tokens on the Meria platform, which is currently the highest among available options in the market.
- The platform offers a secure and user-friendly staking experience through the Keplr wallet, which supports multiple tokens and blockchains in the Cosmos ecosystem.
- The staking rewards can be claimed at any time without resetting the reward period or affecting the investor’s stake, providing flexibility and convenience.
- There is a risk of slashing if the validator you delegate to behaves maliciously or goes offline, which can result in a penalty that reduces your stake and rewards.
- Delegating your JUNO tokens to Meria’s validator means that you are trusting them with your assets and rewards, which come with security and operational risks that you should consider.
Bitrue is a centralized exchange that offers lending and staking services for various tokens, including JUNO. By staking JUNO on Bitrue, you can earn an annual percentage yield (APY) of 5%. You need to have a Bitrue account and JUNO tokens available to lend, and you can withdraw your tokens at any time without penalties.
- JUNO holders can earn a high 5% annual percentage yield (APY) for lending their tokens on Bitrue.
- Bitrue platform is a user-friendly and convenient exchange that supports multiple tokens and blockchains, making it easy for JUNO holders to lend their tokens and earn rewards.
- JUNO holders can withdraw their tokens at any time without penalties or lockup periods, giving them more liquidity and flexibility to use their funds as needed.
- Your private keys and tokens are entrusted to the Bitrue platform, which may have security risks and regulatory issues.
- You have no control over the interest rate and availability of the lending program, which may change according to market demand and conditions.
- You cannot participate in network governance by voting on proposals that impact its future development.
Stakely.io is a platform that offers staking services for various tokens and blockchains, including JUNO. With a transparent identity and team, a verified provider status by StakingRewards.com, and a low commission rate of 5%, Stakely.io is a reliable option for staking JUNO. However, it has a limited voting power of 0.01% and may not have a significant influence on network governance.
- Staking JUNO on Stakely.io allows you to earn a competitive annual percentage yield (APY), which varies depending on the network conditions and validator performance.
- You can use the non-custodial and user-friendly Stakely.io platform to stake your JUNO tokens and benefit from its support for multiple tokens and blockchains.
- Stakely.io offers a transparent identity and team, verified provider status by StakingRewards.com, and a low commission rate of 5% for its validator, which can benefit you as a staker.
- The platform has a limited voting power of 0.01%, which means that the users may not have much influence on the network governance decisions made by the platform.
- There is a risk of slashing, which is a penalty that users may face for delegating their tokens to a malicious or offline validator. This penalty can reduce their stake and rewards by a certain percentage.
- Users are required to stake a minimum of 0.05 JUNO and wait for a 28-day lockup period to unstake their tokens. This reduces the users’ liquidity and flexibility, as they cannot access their tokens during this period.
Benefits of Staking JUNO (JUNO)
- Support the Juno network’s vision of creating an interoperable smart contract platform for the Cosmos ecosystem.
- Earn rewards based on the inflation rate, transaction fees, and smart contract fees on the network.
- Participate in network governance by voting on proposals that affect its future development.
- Benefit from the Cosmos ecosystem’s interoperability and innovation, which enables cross-chain communication and collaboration among different blockchains.
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Frequently Asked Questions
What is staking Stargate JUNO (JUNO)?
Staking Stargate JUNO (JUNO) is a process of delegating your tokens to a validator node that runs the Juno software and validates transactions on the Juno network. By staking JUNO, you can earn rewards from the network’s inflation and transaction fees and have a say in the network’s governance by voting on proposals. Staking JUNO supports the Juno network’s vision of creating a secure and efficient network of interoperable smart contracts.
How much can I earn by staking JUNO (JUNO)?
The amount you can earn by staking JUNO (JUNO) depends on several factors, such as the amount you stake, the duration of your staking, the validator you choose, network inflation and transaction fees, and the staking ratio of the network. The current annualized reward rate for staking JUNO is 31.94%, which means that if you stake 1000 JUNO for one year, you can expect to earn about 319.4 JUNO as a reward. However, this rate may vary depending on network conditions and validator performance.
What are the risks of staking JUNO (JUNO)?
Staking JUNO (JUNO) involves risks that should be considered before deciding to do so. Some of the main risks are slashing penalties for misbehaving validators, a 28-day unbonding period before withdrawing tokens, the price volatility of JUNO, and the opportunity cost of missing out on other potential uses of the tokens. To mitigate these risks, it’s important to choose a reliable validator, plan ahead for long-term staking, diversify your portfolio, and weigh the pros and cons of staking versus other options.
How can I unstake or withdraw my JUNO (JUNO)?
To unstake or withdraw your JUNO (JUNO), you need to go to the Juno staking portal, connect your Keplr wallet, and click on the “Undelegate” button next to the validator you delegated to. Then, enter the amount of JUNO you want to unstake, confirm the transaction, and pay the fee. After the 28-day unbonding period, your tokens will be unlocked, and you can withdraw them from your wallet. Alternatively, you can redelegate your tokens to another validator by clicking on the “Redelegate” button and selecting a new validator from the list.