GAME-ing Stakedrops?


The prevailing assumption by the Proposal 16 is that the anonymous whale knowingly gamed the stakedrop. The blockchains are public, which if we know the right tools we can investigate and learn how this could be possible.

We Are Focused

Through 2020–2021, the Anonymous Whale delegated funds in new addresses as each address reached a threshold of approximately 100K $ATOM. As each address filled up a new one would be started.

The Merging is Complete

On October 1st, 2021 an address began to accumulate 50 stakedrops into a single address. Did the Anonymous Whale in Juno Network Proposal 16 intentionally game the stakedrop?

junod q txs --events coin_received.receiver=juno1aeh8gqu9wr4u8ev6edlgfq03rcy6v5twfn0ja8
-o json — limit 1000 | jq -r '.txs[].logs[].events[] | select(.type == "coin_spent") | .attributes | from_entries | [.spender, .amount] | @csv'

I Heed the Call

We know from the stakedrop criteria that up to 50K $JUNO was awarded to Cosmos stakers at the snapshot on 2/18/2021. Therefore we need to convert JUNO addresses to ATOM addresses. I used to re-encode the addresses.

bech32 addreses
Delegations to CCN (now GAME)

Power Overwhelming

Just to make sure that the validators were legit participants of the Cosmos network, let’s take a look at their voting power over time. Let’s look at the voting power history of CCN (now GAME), for cosmoshub-3

CCN (now GAME) on cosmoshub-3 (11/26/2020–2/18/2021)
CCN (now GAME) on cosmoshub-4 (2/18/2021–3/11/2022)
DEBO on cosmoshub-3 (11/26/2020–2/18/2021)
DEBO on cosmoshub-4 (2/18/2021–3/11/2022)

Our Foe Strikes

Now that we know the addresses and the validators delegated. Let’s examine how these addresses first become active… we would expect a large amount to become active all at once.

Duty is my shield

As a validator, on the $JUNO network my duty is to the community as a whole. Proposal 16 bases itself on the fact that the owner of the account acted in a way which unfairly profited on the stakedrop. My investigation above shows that instead, the Anonymous Whale’s approach to security resulted in a windfall, and was in line with the rules of the stakedrop.



just another dad in the cosmos

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