Unchained Juno Holders Want to Confiscate a Whale’s Tokens. Here’s Why. - Ep.334
Mar 25, 2022
Andy Beal, head of ecosystem development at Forta and author of the 30,000 Feet newsletter, addresses the heated debate within the Juno Network. The community is proposing to confiscate up to 98.5% of a whale's tokens after concerns about its overwhelming influence emerged. Beal explains how the Juno airdrop created a dominant holder and discusses the implications of such a governance decision on decentralization and fairness. He shares his insights on the community's vote and the various courses of action being considered.
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Juno Airdrop Whale
- Juno Network airdropped tokens to ATOM stakers, but a whale consolidated tokens from 52 wallets.
- This amassed 2.5 million JUNO, exceeding the intended 50,000 whale cap.
Community Reaction
- The Juno community quickly proposed confiscating 90% of the whale's tokens.
- This aimed to restore balance and address the perceived threat of centralized control.
Whale's Explanation
- The whale, identified as a fund holding tokens for clients, contacted the Juno team.
- They claimed to have no intention of centralizing the network or acting against its interests.
