Table of Contents
The Premise
Hey Winkers, we’ve got a very exciting announcement for everyone!
The lovely boys at Thor and Kujira have come together to bring to life a new token RUJI which seeks to combine the avengers–various Kujira projects (Wink, Unstake, and Fuzion) and (possibly) Levana–into a singular massive entity (The Rujira Alliance) that is best positioned to deliver a heretofore unseen result in the crypto landscape.
Here’s what that means for us!
Our Strengths
Our team has always been deeply involved in the Kujira community from its earliest days. We have passionately participated in almost every facet of the community during this time (validators, relayers, team, moderation, developers, builders, content creation, the Senate, etc.).
As a result of our efforts, we were able to leverage various factors to excel in this environment including a Kujira community podcast (Kuji Kast), a Kujira content platform (WinkHUB), and an upcoming NFT marketplace (Gojira).
Our Problem
After recent events, the Kujira community is poised to migrate away from its L1 network to a Thorchain L2. As a result, we must adapt to this new situation and make a choice to ensure that we can utilize our strengths and provide the most value to our holders.
We have always told people that transparency is paramount and goes a long way. So we’ll be frank. For those of you who have been with us since the start, we are sure you know quite well some of the biggest challenges we have faced while building out our products.
Our initial raise was ~ $95k as we were the very first PILOT sale (and thus the smallest by far), and perhaps as a result our liquidity has always been somewhat thin. These key issues have limited our resources and slowed us down as we developed the Gojira and WinkHUB platforms.
The Solution
Now at the final stages prior to our initial launch, we have an unprecedented opportunity to join up with a larger project that can offer all of our holders various benefits.
This includes far higher liquidity, a well-capitalized treasury ($10 million), a significantly larger team & talent pool (Thor + Kuji Core + Wink + Unstake + Fuzion + Levana), marketing (tier 1 listings, VC raises), volume (professional market makers, institutional investors, Thor-chain derived high daily volumes), and 50% of the involved projects’ revenue back to RUJI stakers as a fee-switch token.
The Specifics
For people who want a broader high-level description of the situation, they can refer to this article which goes into more general detail involving nuances of the merge process.
At the end of the day, what probably matters to you most as holders are more tangible specifics of what would be happening with holders’ WINK as part of this merger. So let’s get into that.
Under the proposed deal, WINK holders will collectively receive 1.43% of the entire RUJI supply in principle. NSTK and FUZN holders are receiving very similar amounts (1.44% & 1.56%) of the RUJI supply to their holders. These percentages were calculated based on the average market caps of KUJI, WINK, NSTK, and FUZN over the last 30 days.
Fancy migration mechanisms aside, the bottomline is that if this governance proposal were to pass, WINK would be converted to RUJI (a highly liquid token that will be listed on top exchanges and seeks to do an initial raise at a $100 million valuation), which would see $1.43 million in value going to WINK migrators collectively.
The Outcome
The result would be that upon migration WINK holders will have their positions become very liquid and furthermore, the project becomes well-capitalized with its performance diversified across various verticals & teams.
We have racked our heads around providing the best value back to our holders, and we believe this is comfortably the best way to do that and could not be more excited.
The Future
After recent events we earnestly hope that the wider community decides to seize this opportunity to band together so that we have a clear path forward. It’s something our whole team is very excited about and are very keen to be part of. In fact we feel blessed to be involved with what we believe will be the greatest story we will see in crypto in the coming years.
Winkers Unite! All those handsome JOIN US as we continue our journey, embark on an incredible new venture and join forces with something special!
$RUJI to the MUJI!
