The Rujira team is hard at work to get the App Layer ready, and bring us closer to the day of the Merge.
We have noticed some frequently asked questions, and would like to address them so everyone is up to date and ready for this exciting moment.
Q: What is changing and what does it mean for me?
- A: We have published an article to explain the new situation and encourage you to read it to help prepare for when we migrate to the THORChain App Layer! https://winkhub.app/posts/rujira-rising-merging-into-a-new-era-for-kujira-and-thorchains-app-layer
Q: Has the Merge started and can I convert my tokens?
- A: No, not yet. The expectation is token conversion will likely start early next year, but there are a lot of parameters at play and we cannot make any hard commitment on timing. We will update the community about the process and the date of the Merge, as soon as we have more clarity.
Q: Why am I seeing posts promoting the Merge?
- A: We will exclusively inform the community via our official X account @RujiraNetwork and the official Telegram. Information and news via other accounts, links, posts or DMs are fake and are trying to scam you.
Q: When will I know when to unstake so my tokens are accessible in time?
- A: We will update the community via X and Telegram at least two weeks in advance of the Merge start date, so there is plenty of time to unstake and be ready, just keep an eye on the news.
Q: Will the conversion of my tokens to RUJI happen automatically?
- A: No, merging into RUJI is optional, so you will have to manually convert all of your own tokens once the merge contract goes live.
Q: I have my KUJI on an exchange (MEXC, Kraken, CoinEx, etc). Do I need to do anything for the Merge?
- A: You will need to transfer your KUJI to a Kujira address and, like other holders, manually convert your tokens.
Q: I have my KUJI on a different chain (Arbitrum, Optimism, BSC, or another Cosmos chain). Do I need to do anything for the Merge?
- A: You will need to bridge your KUJI back to the Kujira chain (you can use app.squidrouter.com from EVM chains, or a simple IBC transfer from other Cosmos chains) and, like other holders, manually convert your tokens.
Q: I have my KUJI in an LST (qcKUJI, ampKUJI, bKUJI). Do I need to do anything for the Merge?
- A: You will need to unstake your KUJI from the LST staking contract and, like other holders, manually convert your tokens.
Q: How many tokens will I get?
- A: You can find the initial conversion rate on kujira.network/merge. You will have the option to stay deposited into the merger contract for up to 12 months after the Merge to earn additional RUJI.
Q: What will happen to my RUJI once we migrate?
- A: Your RUJI will by default stay deposited in the merger contract and, after a 4-week period, will start earning bonus RUJI tokens. You can withdraw your RUJI at any time without any unbonding period. Once you withdraw, you cannot deposit back in the merger contract to earn additional RUJI rewards.
Q: How does the token bonus work with the different coins?
- A: We have taken a siloed approach, meaning each token merging has a separate pool of rewards, based on tokens that won’t be migrated or migrated late at a lower conversion ratio (i.e. KUJI mergers will earn the share of KUJI that are merge late or not merged at all; FUZN mergers will earn the share of FUZN that are merge late or not merged at all, etc).
Q: What will happen with USK?
- A: USK is going to wind down and the 1% interest rate will increase gradually to incentivize paying off the loans. The wind down process won’t start before RUJI Lending is live on the App Layer, so that users will have an alternative option to borrow.
Q: What will happen to the Kujira network once we migrate?
- A: The Kujira network will stay active until at least a full year after the Merge. During this period, all of the apps will continue to function normally.
This hopefully addresses most of the questions regarding the Merge process. If anything is still unclear, please join our Telegram and ask, we’ll do our best to assist.