Episode description
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
https://30000feet.substack.com/p/issue-60-juno-whale?s=r
Decrypt coverage
https://decrypt.co/95435/juno-network-dao-proposal-16-voted-to-revoke-tokens-from-whale
Coindesk coverage
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/
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