When NETA?
So a lot of our delegators ask me. “Highlander, could you write us a medium article explaining why we should buy NETA”? Here we will highlight some of the wonderful DAO discussions from the Neta Discord channel. There has been weeks of ideas thrown around of what this asset should or shouldn't be.
Lets start with what it is…
NETA is money on the JunoNetwork. A decentralised & fair store of value, medium of exchange and unit of account. It‘s sole purpose is to function as a scarce decentralised store of value asset for the Juno ecosystem and inter-chain Cosmos at large. Claimable for free by thousands of Juno delegates at inception. Never a seed sale, private sale or public sale. Verifiable zero NETA is held in reserve by any third party ie. developers, teams, founders or companies. The Juno community owns all NETA in existence. Distributed widely and fairly via the criteria, listed in the distribution section. At the time of the Moneta upgrade (December 15th ) a snapshot was taken of the Juno Network distributed ledger. The smart contract enabled NETA genesis claim window opens on February 1st 2022 based on the following criteria designed to mitigate gaming of the distribution and incentivise loyal network supporters only:
1 .Person delegated at least 25 JUNO on-chain = 1 NETA
2. Person voted on at least 1 on-chain governance proposal = 10 bonus NETA
3. Person voted on all on-chain governance proposals = 5 bonus NETA
4. Person delegated to at least 1 validator outside the top 20 = 0.2 bonus NETA
Neta was first planned for release 1st Jan but the devs currently working on it put that date back to Feb 1st just so they could make sure there are no bugs in the code and test, test, test. With Feb 1st in mind that does not mean that when it is released it immediately becomes available to buy, sell or pool. This depends on how quickly it is available on Junoswap and Osmosis.
With prop 11 on Juno well under way we are now starting to see the potential on this eco-system full our expectations. For sure Neta becomes yet another part of ways to load asset value in to this eco-system and it is something we are keeping a close eye on. :). Very exciting.
“Starting February 1st NETA is claimable. Unclaimed NETA will hard-decay. Meaning all unclaimed NETA will automatically permanently burn end of Feb 2022.”
Now lets have a quick look at what has been said in regards to Neta Dao.
Neta DAO
Here is a summary of NETA DAO ideas took from discord channel. Great work from Maxjuno on this.
The purpose of the NETA DAO is to increase demand & accrue value for NETA. The best way to accomplish this is through a liquid derivative asset and treasury primarily composed of NETA ecosystem participants seeking to assist in realising the intentions of the black-paper through the broader community.
NETA DAO aims to bring added value to NETA the underlying store of value asset via a Decentralised autonomous organisation (DAO) that will run on a separate contract. This DAO contract will only be accessible by locking up NETA. This may bring several perks to NETA holders. 1. DAO governance voting rights 2. Creation of a secondary asset 3. Utility of this secondary asset to pay out staking rewards to locked NETA and to add external incentives to NETA liquidity pools. More utility for the NETA DAO and how it bring more value to NETA is currently being discussed by hundreds of NETA members in the official Discord. Join the discussion at here
Positive or Net-Neutral Outcomes in all scenarios are possible. Non-Mandatory incentivised Net-Positive Participation at all levels of the NETA ecosystem. Participation in the DAO is a non-mandatory for NETA claimants and holders; NETA holders are free to use their assets as they wish. The DAO will directly contribute to maximising the value of this asset in the market by fulfilling the objectives set following the black-paper.
Working questions: • do we need another utility for N2 to keep buy pressure? • tokenomics • do we need to transition to an N3 in order to protect NETA & N2?
So as we have summarised only ideas from Neta Discord channel. We recommend you head over there and keep an eye on what is being discussed, and if you think of anything then chip in when you can. Nothing has been confirmed from NETA themselves yet so these are only the ideas that we have squashed down for our delegators to get an idea of what NETA is and what some of the use cases may be. For us personally we are looking forward to LPing our NETA on Junoswap and intend on parking it there for a long time to use it as a store of value. BTC has become such a manipulated asset these days and that wont change until it gets the global adoption and raise that mcap to the levels of Gold for example. This would make not as volatile. But what if NETA becomes Cosmos’s store of value asset. Its already capped its not inflationary… This has got us thinking.
Check to see if you will receive some NETA by using Giancarlos Salas staking UI which will let you know if you was including in the airdrop by simply connecting your Juno wallet. :).
There is loads happening in Juno-ecosystem and you can keep an eye on projects released and in the pipeline over at here.
And if you want to contribute to the validator set you can stake using ping.pub
