$KUJI was initially built upon Terra's anchor protocol.
So it experienced the $LUNA crash in May 2022 firsthand.
At its peak $KUJi had $152 million TVL, a few days later that dropped to a mere $1.1 million TVL.
That whole collapse was scary stuff.
So it experienced the $LUNA crash in May 2022 firsthand.
At its peak $KUJi had $152 million TVL, a few days later that dropped to a mere $1.1 million TVL.
That whole collapse was scary stuff.
This collapse meant a price change for $KUJI that was as follows.
$KUJI price dropped to $0.008 from $0.88.
And has since recovered to up to $1.80, and today trades for $1.
A beautiful comeback.
But what facilitated this come back?
$KUJI price dropped to $0.008 from $0.88.
And has since recovered to up to $1.80, and today trades for $1.
A beautiful comeback.
But what facilitated this come back?
#Kujira now has its own native layer-1 semi-permissioned blockchain built on #Cosmos SDK.
Therefore, Kujira no longer relies on some other network.
It also has a stablecoin ( $USK ) built on the $ATOM / Cosmos ecosystem which we will cover later.
Therefore, Kujira no longer relies on some other network.
It also has a stablecoin ( $USK ) built on the $ATOM / Cosmos ecosystem which we will cover later.
What is Semi-Permissioned?
In order for a contract to launch on #Kujira, it needs to be voted in via governance.
This ensures that the quality, sustainability, and longevity of the network are protected.
In order for a contract to launch on #Kujira, it needs to be voted in via governance.
This ensures that the quality, sustainability, and longevity of the network are protected.
Without a 2/3rd of the validator's approval, new blocks cannot be minted on the chain.
If they cannot reach a block's consensus, another attempt is made.
Therefore, the network can be halted and new transactions cannot occur.
This is both a good and bad thing for users.
If they cannot reach a block's consensus, another attempt is made.
Therefore, the network can be halted and new transactions cannot occur.
This is both a good and bad thing for users.
To my standards, I must say #Kujira is not that decentralized.
With just 80~ validators running the blockchain, it can't be labeled super decentralized.
This is largely due to the maturity of the network.
As it becomes older, it may add more users and validators.
With just 80~ validators running the blockchain, it can't be labeled super decentralized.
This is largely due to the maturity of the network.
As it becomes older, it may add more users and validators.
#KUJIRA does have penalties for validators in place.
If a validator is found absent from signing operations on a blockchain for a period of time (0.01% slash) or submits two signed messages for the same block (5% slash) they will be penalized.
If a validator is found absent from signing operations on a blockchain for a period of time (0.01% slash) or submits two signed messages for the same block (5% slash) they will be penalized.
KUJI Tokenomics
#KUJIRA's native coin, as you may have caught on is $KUJI.
$KUJI has a total supply of 122,398,190.844391 (122.4M).
#KUJIRA's native coin, as you may have caught on is $KUJI.
$KUJI has a total supply of 122,398,190.844391 (122.4M).
The distribution was as follows:
Private sale: 28m
Public sale: 21m
Advisors: 7.5m
Liquidity: 6m
Team: 27m
Operational: 11m
Marketing: 6m
Airdrops: 500k
Treasury: 6.75m
Rewards: 8.65m
Private sale: 28m
Public sale: 21m
Advisors: 7.5m
Liquidity: 6m
Team: 27m
Operational: 11m
Marketing: 6m
Airdrops: 500k
Treasury: 6.75m
Rewards: 8.65m
he original supply of 150M tokens was slashed on 18 January 2022 after a governance vote was passed to burn liquidity pool rewards.
The airdrops and rewards distribution have mainly been affected by the burn.
The airdrops and rewards distribution have mainly been affected by the burn.
The release schedule is rather fast.
In just 36 months nearly all the $KUJI coins will be in circulation.
This can cause temporary inflationary conditions for the $KUJI token.
In just 36 months nearly all the $KUJI coins will be in circulation.
This can cause temporary inflationary conditions for the $KUJI token.
Use cases for $KUJI include that all the dAPP (will be discussed next) fees are paid with $KUJI.
These fees are distributed amongst the $KUJI stakers.
These fees are distributed amongst the $KUJI stakers.
ORCA dAPP
ORCA is a public marketplace for liquidated collateral.
It was originally based on Terra's Anchor Protocol.
It allowed users to buy crypto assets below the market price.
Usually, borrowers would stake their assets as collateral when taking loans.
ORCA is a public marketplace for liquidated collateral.
It was originally based on Terra's Anchor Protocol.
It allowed users to buy crypto assets below the market price.
Usually, borrowers would stake their assets as collateral when taking loans.
$KUJI's FIN DEX
FIN is a token exchange by the #KUJI team.
Rather than using liquidity pools FIN aims to create an exchange with no inflationary economics and bots. It attempts to put an end to the risk of impermanent loss.
FIN is a token exchange by the #KUJI team.
Rather than using liquidity pools FIN aims to create an exchange with no inflationary economics and bots. It attempts to put an end to the risk of impermanent loss.
Currently, only 18 crypto pairs can be traded on the exchange.
Since it is a new DEX it will very likely take time to get public attention.
More trading pairs would be great to attract more users to the exchange.
Since it is a new DEX it will very likely take time to get public attention.
More trading pairs would be great to attract more users to the exchange.
$USK stable coin.
Kujira has a native algorithmic stablecoin called #USK.
It is an over-collateralized Cosmos stablecoin soft-pegged to the Dollar and initially backed by #ATOM with $KUJI to back it soon as well.
Kujira has a native algorithmic stablecoin called #USK.
It is an over-collateralized Cosmos stablecoin soft-pegged to the Dollar and initially backed by #ATOM with $KUJI to back it soon as well.
$USK is unfortunately not a popular stablecoin.
With a large number of stablecoin competitors, being on the $ATOM chain, and the distrust for algorithmic coins.
$USK will have a tough time competing with other stablecoins in my estimation
With a large number of stablecoin competitors, being on the $ATOM chain, and the distrust for algorithmic coins.
$USK will have a tough time competing with other stablecoins in my estimation
Considering $KUJI's insane comeback since the Terra collapse.
It is certainly a good sign to see $KUJI return stronger than before with a thriving team and community.
The fact that they have stuck around after the collapse says a lot about their project.
It is certainly a good sign to see $KUJI return stronger than before with a thriving team and community.
The fact that they have stuck around after the collapse says a lot about their project.
$KUJI definitely has a thriving community
And has been a welcoming community for researchers like myself, helping me to explore the #KUJIRA space.
So thanks for that and hats off to all of you.
And has been a welcoming community for researchers like myself, helping me to explore the #KUJIRA space.
So thanks for that and hats off to all of you.
That's it for me on $KUJI.
follow me - @yqboom for more critical perspectives and summaries on DeFi projects.
Cheers ladies and gents!
follow me - @yqboom for more critical perspectives and summaries on DeFi projects.
Cheers ladies and gents!
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