Cosmos Ecosystem, which is based on the notion that the future blockchain will be multichain and interoperable is a prime candidate for gaining traction. Juno is one of those ecosystem’s most recent projects. It went live in its mainnet on October 1st 2021.
Juno is an open source platform for smart contracts interoperable. It automatically executes and controls important events or actions according to the rules of any contract. This allows it to be valid across many sovereign networks.
It’s a Cosmos ecosystem sovereign blockchain and public blockchain. The platform aims to allow the development of interoperable smart contract platforms. It allows developers to create and deploy smart contracts by using CosmWasm. JUNO, the network’s native asset, protects the blockchain through proof-of-stake and serves as both a key to on-chain governance and fuel for any interoperable smart contracts implemented in the ecosystem.
Learn more about Juno, the Juno network and How to Trade JUNO on CoinStats.
Let’s dive in!
What is JUNO?
Juno, a Tendermint-based Blockchain that’s linked to Cosmos SDK through Inter Blockchain Communication (IBC), is Juno. This platform is decentralized and permissionless. It allows developers to create smart contracts in a safe and secure manner using established frameworks. They can also combine them with other languages. Additionally, CosmWasm’s battle-tested contract module allows decentralized apps to build on multichain secure smart contracts that are resilient and secure. You can launch additional modules by using on-chain governance.
Osmosis is the best way to buy Juno Tokens
You can’t buy JUNO on decentralized platforms without another currency. You must purchase Ethereum (ETH), or Bitcoin (BTC) first, and then you can use these to purchase JUNO. You’ll need a cryptocurrency exchange that allows you to buy Bitcoin or Ethereum with a credit or debit card. You can trade JUNO via major ewallet exchanges like Binance, Osmosis and Coinbase.
With that said, let’s have a look at how to buy JUNO tokens using your Keplr wallet and the Osmosis platform.
Step 1. Buy an IBC enabled Cryptocurrency at an Exchange
JUNO can only be bought on Osmosis and not on any other centralized exchanges such as KuCoin or FTX.
You must deposit an IBC-enabled crypto currency first, then you can exchange it for OSMO.
[These are some of the IBC-enabled cryptocurrencies: ATOM, LUNA, CRO, UST, SCRT
You can purchase them from various exchanges like Crypto.com, Binance, FTX, etc.]
Step #2: You can send the IBC Cryptocurrency directly to your Keplr account
You will next need to move the IBC enabled cryptocurrency that you select (ATOM CRO SCRT UST, LUNA, etc.) to your Keplr Wallet.
For this demo, we’re going to transfer ATOM to the Keplr Wallet.
Step 3: Link your Keplr Wallet with Osmosis
The next step is to connect your Keplr Wallet to the Osmosis platform.
Step 4: Deposit your IBC-enabled cryptocurrency
After linking your Keplr wallet, go to the ‘Assets‘ page on Osmosis, and then click on ‘Deposit’ on the IBC cryptocurrency you deposited to Osmosis.
You’ll then need to move your tokens from your Keplr Wallet’s native chain to the Osmosis chain (OSMO).
To do so, you’ll have to pay a small transaction fee in the token being transferred.
Avoid transferring all of your balance from Keplr into Osmosis.
For example, to deposit ATOM to Osmosis, you will move your tokens from the ‘cosmos’ chain to the ‘osmo’ chain.
Step 5: Get JUNO By Trading your IBC-enabled cryptocurrency
You can now exchange your assets for JUNO, once you’ve deposited them with Osmosis.
To do so, navigate to the ‘Trade’ tab, Swap ATOM for JUNO
After the transaction has been completed, the JUNO tokens will be yours.
How to Take JUNO On Keplr Wallet
To stake JUNO onto your KeplrWallet, follow these steps:
- Select ‘Stake’ under the JUNO network in your Keplr Wallet.
- To begin staking your JUNO tokens, choose a delegator.
The top delegators are displayed in order of ‘Voting Power.’ This relates to the number of JUNO tokens they have on hand. A delegator’s voting power increases as more JUNO tokens are staked.
- Verify that the transaction was authorized.
What to do with Juno in CoinStats
You can use the built-in swap tool to swap cryptocurrency tokens with CoinStats or other Decentralized Exchanges.
CoinStats provides the best swap rate by combining all of its decentralized exchange aggregators (1inch, 0x, etc.). Likewise, DEX platforms such as Uniswap/SushiSwap select the highest price from their liquidity pools.
Let’s take a look at the steps on How to swap Juno to USDT on CoinStats
Step 1. Connect your wallet
To search for JUNO prices in coinstats.app, scroll down to the Swap section and link the wallet where you keep the JUNO token.
By clicking on the “Connect” button you will see the various wallet options supported by CoinStats. Connect your wallet by searching for it.
This can either be done via WalletConnect by scanning the QR Code or manually entering the Blockchain/Crypto/Wallet address into your web browser or mobile app.
Step 2: Pick a Token
Connect your wallet successfully and select the token to be swapped by entering details in either USD/EUR, cryptocurrencies, or both.
This article will show you how to convert JUNO into USDT.
Select the JUNO coin from your wallet in the “From’ field and select “USDT” in the “To” field.
Step 3: Click to Swap
For more options, such as Advanced Options to modify the gas and slippage settings. Once done with customizing, go to the bottom of your screen and click on the “Submit Swap” button.
You will need to confirm your swap request after you submit the swap request. Review the details appearing on your web or mobile app screen and click on the “Confirm” button to initiate the swap.
The transaction has been processed. You will see a difference in the processing speed depending on which Gas Settings are selected. The loader in the lower right corner of your wallet or the main page can be used to trace the transaction.
NOTE:Network Transaction Fees, also called gas fees, will be assessed to your account. It is the cost to conduct a Blockchain transaction. The gas fees, which are charged in native currencies of the networks, are i.e. Ethereum is the Ethereum network. CoinStats charges an additional swap fee to go along with the gas costs.
Closing Thoughts
Now that you know how token swapping works, hopefully your decision making has become a bit more sophisticated. Remember that crypto trading is not a set process. The market changes constantly so it is important to keep an open mind, and be open-minded about opportunities that could lead you to lucrative returns.
To learn more about cryptocurrency exchanges and tokens, visit the CoinStats blog. You also have access to our detailed buying guides for buying various cryptocurrency, including How to Buy Bitcoin, DeFi, Cryptocurrency Purchases, etc.
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