The NETA token is a decentralized store of value asset native to the Juno Network, designed to serve the Juno ecosystem and the larger Cosmos ecosystem. It has a low, fixed supply and was fairly distributed through an airdrop, with no seed sale, private sale, or public sale. The NETA token is entirely community-owned and operates without centralized control. For more information on the NETA DAO, which governs and manages the token, please refer to the NETA DAO page.
Distribution and Tokenomics
The NETA token was allocated through an airdrop, also known as the ‘GovDrop’, which distributed 32,950 NETA to early Juno users. The airdrop snapshot was taken on December 15th during the Moneta upgrade, and the tokens were claimable during February 2022. A total of 31,886.6 NETA was claimed, with the remaining 1,063.4 NETA permanently burned.
NETA is characterized by its low, fixed supply, which provides the foundation for a hard money asset. The token is designed to be a decentralized canonical Juno community asset, with modular properties that enable its use within the Juno ecosystem.
Token Modularity and Use Cases
Permissionless and Community Driven
The NETA token is permissionless, allowing any decentralized application (dApp) to use it and enabling the formation of multiple DAOs around the token. As a community-driven asset, NETA encourages developers to build around it without the need for a separate token.
NETA is not inflationary, meaning there is no inflation to dump and no yield farming distractions. This characteristic contributes to its use as a store of value within the Juno and Cosmos ecosystems.
Staking and Governance
The NETA token has a 91-day staking period if staked in the NETA DAO, signaling a long-term commitment to holding the asset and a belief in the future of the Juno Network. Staking NETA tokens allows holders to participate in the governance of the NETA DAO, which you can read more about here – https://interchaininfo.zone/i/netadao
However, it’s important to remember that the NETA DAO is only the first and largest project/DAO to pop-up surrounding NETA, and it is not necessarily the official or canonical one. Anyone is encouraged to integrate NETA into their own products or built their own DAOs around it.
There are no staking rewards for NETA token holders, as the token is not inflationary. However, holders can enter yield-incentivized liquidity pools available on Wynd to potentially earn returns on their holdings.
As a part of the Cosmos ecosystem, the NETA token benefits from the cross-chain interoperability provided by the Inter-Blockchain Communication (IBC) protocol. This enables seamless interactions between NETA and other assets on the Juno Network, as well as with other blockchains within the Cosmos ecosystem.
The future potential of the NETA token is closely tied to the development of the Juno Network and the broader Cosmos ecosystem. As the community continues to grow and evolve, new use cases for the NETA token may emerge, driven by the collective decisions of the NETA DAO and other organizations that form around the token. The decentralized and community-driven nature of the NETA token ensures its adaptability and responsiveness to the needs of its users and the wider ecosystem.