Thread by @Luna_Brinstar

@TeamKujira has done it once again.

For those who have questions about $skuji tokens

Summary of skuji

bond $kuji -> receive skuji
unbound skuji -> receive skuji + aUST + bAssets
skuji is not 1:1 after March 1 because #kuji will not be the only asset in the rewards pool

Do not think of skuji in terms of number of tokens but instead it is better to think of it in terms of monetary value. When you bond sKUJI, the value of the share of the pool that your sKUJI represents will not increase or decrease unless revenue is deposited into the pool. #kuji

If someone unbonds, they take with them their share of the pool (see unbound skuji from earlier) and that percentage of sKUJI (e.g. the staker had 5% of skuji) is burned. #Kuji

If somebody new joins the skuji pool, then there is enough sKUJI minted to dilute the sKUJI circulating supply (currently $8.3 million) the same amount that their KUJI increases the value of the pool. (so if pool value of kuji assets (kuji + aUST + bassets after March 1) #Kuji

in my made up example is $999 thousand, and a user deposits $1 thousand worth of kuji, the total skuji minted has to reflect that .1% dilution ($1 thousand / ($999 thousand + $1 thousand) —> represents .1% ownership for that newest staker of the total pool) $kuji

So that total circulating skuji amount must now increase by how much? well 8.3 million is 99.9% of 8,308,308). So i believe in my example, the new user would mint 8,308 skuji (but remember, the user may not have 8,308 bonded $kuji)

So you have to remember:
- sKUJI is *not* minted on a 1:1 ratio with bonded $KUJI.
- however, whilst KUJI is the only asset in the pool (ie until 1st March), the maths will result in a 1:1 mint

- when you unbond, you receive a share of each asset relative to your sKUJI ownership (in my example .1%)
- you are not guaranteed the same amount of KUJI that you originally bonded

- however the value of your stake will not go down (assuming no changes in prices to the constituent assets)

Additionally, withdrawing and then re-bonding the returned $kuji will reduce your overall stake.

To maintain your stake you would have to re-bond the entire amount you received (kuji + aUST + bassets). But if you are claiming, you are likely claiming to do something else with the other assets anyway, so ONCE AGAIN, you will suffer from dilution).

Additionally, you will lose out on the auto compounding effects.

Autocompounding? —> Yes, the pool will auto compound. This was a key design element from the @TeamKujira. Auto compounding means you can set it and forget it.

The @TeamKujira will even claim the yields from bluna and other bAssets, convert to aUST and deposit to the pool for you.

You can do all of this at blue.kujira.app. If you like these posts, please feel free to hit the like and follow button for more alpha.

2 typos: apologies

unbond skuji -> receive kuji + aUST + bAssets