Liquid Staking on Juno Network

6 min readSep 10, 2022

At ChainTools we were recently added to the awesome StakeEasy dApp who has built a liquid staking smart contract on Juno.

Please take note at this time StakeEasy does not work with Ledger quite yet but they are working on it so hopefully by the time this goes out it should be good. If not Keplr without Ledger for now.

Note: In this article if you want to follow along you will need.

Keplr wallet installed
>0 JUNO balance which you plan to deposit in

Let’s not get in to the nitty details in this article, you can read all you want from the very detailed medium article from stake easy here. But here is some keys points on what StakeEasy gives you as options when you stake through the dApp

StakeEasy is a liquid staking protocol and such protocols have one or more staking derivative tokens. Staking derivatives are essentially a representation of the amount of assets staked by the protocol’s user. This staking derivative has a particular way of distributing staking rewards to the end-user and hence differs in terms of mechanics. Three of the most popular models are briefly explained below:

Rebasing token: This type of token increases in the number of tokens in a user’s wallet as staking rewards are accrued.
Increasing-peg token: This type of token increases in the amount of unstaked assets it can be redeemed for as the staking rewards are accrued, with additional auto-compounding of rewards. seJUNO is one such token.
Manual reward token: This type of token is always pegged 1:1 to the unstaked token. Users who holds this token can manually claim their staking rewards anytime. bJUNO is one such token.

So here you will be able to Liquid stake JUNO, Provide swap liquidity while getting staking rewards, Provide swap liquidity without impermanent loss, Use liquid staked token to borrow & Provide swap liquidity while getting staking rewards without impermanent loss.

Let me take you through my experience from a user perspective and maybe give you an idea of how it works. Cause its fucking brilliant.

STEP 1

Head on over to https://juno.stakeeasy.finance/ and connect your WEB3 wallet. ATM keplr is the go to Cosmos Wallet. But in the time of writing the cosmos eco-system has contributors as we speak building more. More of that another time.

Ok cool, so your connected and you will be able to see the home page and hopefully if you have been learning along with some of our previous articles you should have a Positive JUNO balance.

STEP 2

Take a look at protocol stats page to see list of validators that Stake Easy use for Liquid Staking. Some information such us Total JUNO staked with the protocol. JUNO under withdraw and the contract addresses of the codes written in the protocol that take care of the liquid staking.

STEP 3

So time to make a decision on wether you stake in the bJUNO or seJUNO.

If you only want to stake JUNO and have your staking rewards compounded automatically, you can stake for seJUNO and keep it in your wallet.

Or if you want to provide liquidity to a pair which does not have an impermanent loss, then you can provide to the bJUNO/JUNO pair, but you’ll not get staking rewards from bJUNO if added to the LP pair. You can get staking rewards while added to the seJUNO/JUNO pair, but there may be a small impermanent loss in the long term.

Here i stake with seJUNO.

Click confirm tx and it should be grand.

Some info after you are staked

After some time you will be able to see some rewards. Users who stake bJUNO option can manually claim their staking rewards anytime.

Staking seJUNO your rewards are compounded automatically.

Unstake takes 28 days

And after you claim bJUNO rewards you can convert them to seJUNO like below.

STEP 4

Now its time for the real fun. As you can see after you stake you now have a balance of seJUNO which we will use in the next stage of this tutorial where we will be moving in to some DEFI protocols built on Juno Network.

STEP 5

You can now use your seJUNO in Junoswap which is offering nice APY atm

see our article on “Staking and LPing in the Cosmos eco-system” tutorial right here.

STEP 6

We would like to share you another DEX on the Juno-Network and it was one from the Terra world. LOOP.

Visit LOOP’s Website here and connect your wallet like normal.

So since LOOP is built on Juno guess what. It reads whats in your Juno Address and here you can see another strategy wallet we created for testing what is shown in our holdings. We got some bJUNO in there and also seJUNO in there. Remember from earlier when you stake JUNO you get these tokens representing what JUNO you staked. So its a ticket to then use these in to a DEX. Your following along now right? See where we are going with this?

GREAT !!!

STEP 7

I am going to now provide Liquidity to seJUNO — JUNO pool. So you make sure you have 50/50 of each asset ratio to do this.

You can use the SWAP section to make sure you are set.

And dont forget JUNO for gas ;).

Now once you have 50/50 token split you can now add % amount of your LP position

Confirm tx with keplr and now you are ready for step 8.

STEP 8

Here is the FARM page on LOOP. Its the same process like every other DEX like Junoswap, Osmosis and all that stuff.

You got this…

Here you can click FARM.

Ok cool. Once you are POOLED and now FARMING. You can now check out your DEFI position like below. Now you will be accumulating LOOP rewards.

Closing Remarks

As far as we know StakeEasy Unbonding is 28 days for both liquid staking and normal staking, but with liquid staking you can swap you liquid asset to any token pair that’s supported and withdraw instantly without having to wait. This is exciting for the Cosmos Eco-system and we are extremely happy to see this all on Juno Network. Things like this makes Juno bullish in general and shows the developers are hard at work.

Be sure to tune in to our “Juno-Builders” weekly Twitter Space CO-HOSTED with TFM where we will be interviewing more awesome projects being built on Juno.

Checkout our recorded space with StakeEasy right here.

Thank you for reading.