⚡️Weekly Recap - Week 47/2024⚡️

Hi everyone,

Welcome to Rujira Weekly Recap, where we share all the interesting things that happened recently!

Blog post version available here: winkhub.app/posts/rujira-w… ⚡️Cosmos v50

The THORChain v3.0 update, expected later this month, will bring significant upgrades, including the important Cosmos v50 update for the App Layer, enabling CosmWasm and IBC among others. While we still have to wait for the mainnet release, the devnet is already live and has allowed for @codehans1 to start cooking and share some exciting previews.

Curious about the connection between IBC, Cosmos v50, and the App Layer? @GrassRootsio has a great video explaining how it will work.
youtu.be/JVDyikjZqNo

x.com/codehans1/stat…

It's here. Kujira v2 has arrived 🐳

Let's dig in, take a look round, and show you why we're so incredibly excited about what this means for the vision and future direction of Kujira 👇 Let's start at the beginning. Kujira exists to create a modern, accessible, and fair financial ecosystem for everyone.

Over the last 3 years, that ecosystem has grown from liquidations on ORCA, a fully on chain orderbook exchange on FIN, decentralised market maker BOW, over collateralised stable coin USK, borrowing and lending with GHOST, our fair launch protocol PILOT, as well as all of the pieces that allow the chain to run - Governance, Staking, Bridging

GM Kujirans 💙

In the interest of transparency, we would like to explain an issue that occurred this morning and the steps we have taken to prevent this happening again 👇 GHOST and $USK rely on an external price feed, provided by validators via our price-feeder

For the $KUJI price, we use the MexC API to fetch off-chain data which is then TWAP-ed. That price is fed on-chain and used to calculate loan health.

We have open up the short markets on GHOST for all $USK collateral assets 👻

ghost.kujira.app/borrow?groupBy…

Say you borrow $OSMO against $USK, you'd typically look to sell it, then hopefully buy it back later when it's lower to repay your debt & clear a profit. Hence shorting.

1/8 To borrow $OSMO against $USK, you'd go to this GHOST vault 👇

ghost.kujira.app/borrow/kujira1…

This means you are using $USK as collateral to take out a loan of $OSMO. Lending always has the potential for liquidation, and that's where ORCA steps in.

2/8

📢 The Senate update 📢

- Applicants requiring KeyBase info
- Approximate ETA for voting
- How the voting process will work

Thank you for your patience with this, it's time to give you an update so that we're all clear on the next steps 👇 Currently, we are waiting for 4 individuals to get back to @KujiPeruggi or @Thuxo_Lux on Discord, Twitter, or Telegram regarding KeyBase information 💙

⚠️ If you are running for The Senate and you know you haven't provided KeyBase information, please check these channels!

📢Publishing the Weekly Roundup: Ep.12👇

medium.com/team-kujira/we…

Written by @KujiPeruggi

Continue reading below for a summary of the main points🔥 - @CALC_Finance live on Kujira mainnet, DeFi manifesto published

- 1-year anniversary party, fire merch!

- The Senate update

- BOW UI tease and effect on Price Action

Hey all, we didn't want to put out any 'official statement' because these Twitter things only ever cause further division, but due to the request of a few community members we will address a few points, particularly around @stablechen's Tweet as it was at least sensible. Before that, it's important to clarify that our position has been identical for over a year now, & absolutely nothing has changed. We have always been clear & transparent about everything we do at Kujira, including open / closed source.

Below with the answers to some questions.

📢📢 The time has come to launch $USK and #ORCA.

We want to say a special thank you to our community. We're honestly blown away by all the support 🙌

Here is a 🧵 that will guide you through the new stablecoin minting & liquidation bidding process 👇

1/8 You can now use $ATOM as collateral to MINT $USK here blue.kujira.app/mint 👈

USK stablecoin mechanics bit.ly/3RQXkTy 👈

A video by @YieldLabs explaining how to mint $USK

(simply switch $DEMO with $ATOM here and move to MainNet) 👈

2/8

📢 The time has come to give Cosmos' first Layer 1 decentralized, permissionless, 100% on-chain order book style token exchange a bit of a spin 🥳

Everyone that is staking $KUJI on TestNet has been airdropped 10K $DEMO tokens to trade with.

Short 🧵 on the details 👇

1/5 You can trade the $KUJI <> $DEMO pair here fin.kujira.app/trade/kujira1s… 👈

Initially, during the bootstrapping phase, only limit orders can be placed. After about 30 mins, the bootstrapping phase will end, and market orders can be placed ⚡️

2/5

📢 Hey all, some good news & dates 👇

We are targeting Monday 13th for public testnet. This will include the genesis snapshot from Terra, so you can check balances and test the migration process in a safe environment 🏦

1/4 We'll also have some demo markets open on FIN, with some selected partners and some of our own bots driving trading volume and stress testing the network ⚒️

You will also be able to place buys and sells and get a feel for this beast ⚡️

2/4

We keep getting asked about our APR for the $sKUJI revenue pool here blue.kujira.app/earn/skuji/bond 👈

Just 3 days ago, the amount of $bLUNA in this pool doubled overnight. It's impossible to calculate an APR, but this is a very good thing 👇

1/4 We don't print a single token to give away rewards. These are real earnings from actual revenue, and sustainable forever 📈

Imagine being in a pool where the rewards can double in 1 day, rather than relying on inflationary rewards that only dilute things long term 💀

2/4

📢 GM you cheeky whalers 🐋

We're rewarding bidders with another (total) 100K $sKUJI for bidding with $aUST in the new $bATOM market on ORCA 💰

All the details are here teamkujira.medium.com/bond-bid-and-w… 👈

Here's a summary 🧵 too 👇

1/5 To earn your share, you need to do just two things:

1. Place a bid, using $aUST, on the $bATOM market on ORCA here orca.kujira.app/markets/terra/… ⚛️

2. Own some $sKUJI (by bonding $KUJI here) blue.kujira.app/earn/skuji/bond 🏦

Do both those things BEFORE 12pm UTC on 13th April 2022.

2/5

🤖 You will now see markets labelled "Bot First Market" in the markets section of ORCA here orca.kujira.app 👈

These allow bidders to participate in liquidations for markets which still use the old 'fastest finger first' mechanism 🤞

🧵 on how this works below

1/10 We have our own liquidation bots running that use the funds in the liquidation queue.

When our bot wins a liquidation, the bids are used just as they are currently. Evenly distributed from lowest to highest premium as per current Anchor markets.

2/10

📢 Can't be more thrilled to announce our multi-purpose, plug & play & configurable liquidation queue for all CosmWasm chains has passed audit by @TerraSCV.

assets.kujira.app/kujira-orca-au… ⚡️

cosmwasm.com/#partners

A 🧵 on the frankly insane potential 👇

1/8 In short, any lending market on any CosmWasm chain can almost instantly use our liquidation queue + ORCA to handle their liquidations in a democratised way, allowing their communities to participate in bidding for liquidated collateral on their markets 💥

Features below 👇

2/8

📢 Kujira is now running 100% on our own infrastructure, with no reliance on the #Terra LCD 🔌

This makes the Terra ecosystem more stable, & keeps our apps functioning for our users in the case of a more widespread issue 🛠️

A 🧵 to unpack this a bit 👇

1/4 We have 296k unique visitors and 1.3m page views across our apps every month. To date we've been both reliant, and a load on TFL's infrastructure 📈

The recent overload of this centralised system has galvanised us to provided dedicated infra for those that use our apps.

2/4

📢 $sKUJI is now live 🚀

Existing / migrated stakers will now see the underlying assets that make up their $sKUJI here blue.kujira.app 🤲

New stakers can now bond their fresh $KUJI here blue.kujira.app/earn/skuji/bond 💰

A short 🧵

1/4 The good peeps at @astroport_fi have facilitated a KUJI <> sKUJI pool which can be tracked here coinhall.org/charts/terra/t… 👈

Arbitrage degens get in 🦾

You can add liquidity here blue.kujira.app/earn/KUJI-sKUJ… 👈

$KUJI <> $sKUJI can be traded here blue.kujira.app/swap 🔃

2/4

📢 Happy Sunday peeps. A short but important 🧵 about next week.

PLEASE don’t forget to migrate from our governance pool to our $sKUJI protocol revenue pool before March 1st 🤖

All details here teamkujira.medium.com/introducing-sk…

1/5 Today we withdrew another 7k from $aUST fees, and the total in the protocol revenue pool is now at around 111k $UST worth of apex assets 👇🏻

apeboard.finance/dashboard/terr…

Every cent goes to our stakers. New stakers can bond $KUJI to $sKUJI after 1 March 🐋

2/5

🛠️ Important dev update for this week peeps.

It's going to be a massively important few weeks for Kujira, so here is a 🧵 so everyone is kept well up to date.

1/8 CROSS-CHAIN: liquidation contracts for cross-chain markets are WELL underway, meaning we will be able to quite easily ship to markets on any EVM chain (ETH, BSC etc).

UI and backend work for our first cross-chain market has begun. Super exciting news coming soon ⚡️

2/8

📣 The wait is over folks. You can now use aUST to bid on ORCA, and earn interest while bids are waiting to be hit 💥

Go and get it orca.kujira.app 💰

Here's a 🧵 on what you will see and how it works:

1/10 Placing a bid is initially done in the same way as with UST bids. You simply need to select aUST from the bid amount dropdown selector 🖱️

After selecting the premium that you're targeting, we move to the next screen which is unique to aUST bids 🤛

2/10

📢 The premium dashboard has arrived good people 🤩

The insane amount of data we've indexed and built up over ~ 4 months are now ready for your strategic pleasure 💹

So, here is a 🧵 about this dashboard, that can be found here orca.kujira.app/dashboard 👈

1/11 5000 staked $KUJI tokens gets you access to the full dashboard, but all users will see a summary of all liquidations, a market indicator showing liquidation likelihood, & details of the most recent liquidation event 📰

Stake here blue.kujira.app/earn/kuji/stake 💸

2/11

☕️ Right, here's another short 🧵 about the latest liquidation event, and some other stuff we feel you should know.

The TLDR is;

1) 8th Jan 4.9m was spent buying cheap $bLUNA and $bETH.

2) Not staking $KUJI might be insanity.

3) aUST bids are coming for ORCA.

1/6 8th Jan between 15:00 and 19:30 UTC time:

- 351 loans got liquidated
- 6.85m $UST bought 111k bLUNA
- 153kUST bought 52.7 bETH
- lowest $bLUNA price: $58.9
- lowest $bETH price: $2833

At the current $LUNA price that means a 24% discount on $LUNA in a matter of hours 💰

2/6