Andy Beal, head of ecosystem development at Forta and author of the 30,000 Feet newsletter, discusses the dramatic governance proposal on Juno Network, a Cosmos-based project, where Juno holders are voting to confiscate millions of dollars in tokens from a whale who allegedly gamed the Juno airdrop. Show topics:
- how the Juno airdrop worked
- how the whale was able to amass more JUNO tokens than the team wanted
- why the Juno Network community feels threatened by an entity holding so many JUNO tokens
- what the whale did to invoke the ire of the Juno Network community
- the community’s vote on whether to confiscate up to 98.5% of the whale’s tokens
- what three courses of action the community is considering to confiscate the whale’s JUNO
- what Andy’s biggest takeaways are from the dramatic governance moment
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Episode Links
Andy Beal
- https://twitter.com/ajbeal
- Andy's newsletter: https://30000feet.substack.com
Juno Network drama
- Andy’s write-up
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- https://30000feet.substack.com/p/issue-60-juno-whale?s=r
- Decrypt coverage
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- https://decrypt.co/95435/juno-network-dao-proposal-16-voted-to-revoke-tokens-from-whale
- Coindesk coverage
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- https://www.coindesk.com/video/recent-videos/why-junos-vote-to-confiscate-a-whales-funds-is-a-watershed-for-blockchain-governance/
- https://www.coindesk.com/layer2/2022/03/16/junos-proposal-16-vote-is-a-watershed-for-blockchain-governance-for-better-or-worse/