Hi Everyone!
Welcome to Rujira Weekly Recap, where we share all the interesting things that happened recently!
⚡️Rujira updates
Democratized Arbitrage
Arbitrage is the practice of buying an asset in one market where the price is lower and selling it in another market where the price is higher, making a profit from the price difference. This is unfortunately something that often requires advanced knowledge or trading bots to spot these opportunities quickly, making it difficult for average investors to take advantage of.
Hans has teased a strategy that will enable arbitrage between the Base and App layer. By providing liquidity, users will be able to earn profits from the arbitrage without the need of any fancy tool. This will be how the App Layer will virtualize the Base Layer liquidity and enable (virtual) atomic transactions tapping into the Base Layer pools.
How will it work?
- It matches Fixed Limit Orders and Oracle Limit Orders against Base Layer Liquidity.
- It borrows money from RUJI Lend to fill the orders on RUJI Trade at Base Layer price + margin.
- At the end of the block, it executes the swap against Base Layer liquidity and uses the proceeds to repay the loan.
- Profits in excess of loan repayment are distributed to the liquidity providers.
Four steps, all within a single block. Internalized and democratized arbitrage.
London Event
This week, several members of the Rujira team are gathering in London to work on important details for the Merge and TGE, RUJI products, and the App Layer. For some, it will be the first time meeting face-to-face, making it a great opportunity for team building and to strengthen connections.
The week will wrap up with the Rujira x Noble meet-up at Brewdog, Waterloo, giving the community a chance to connect with each other and the team in a casual and informal setting.
Thought piece THORfi Loans
THORChain has had a turbulent week, with concerns about THORFi loans and the outstanding lending protocol liabilities.
PragmaticMonkey has published a thought piece that addresses the situation, clears up common misconceptions within the community, and highlights 5 key considerations including how Rujira can help mitigate, and eventually remove, the risk of the lending protocol from the Base Layer.
This is a great read to get a deeper understanding of the situation, but also to understand how important the App Layer will be and the role it will play in de-risking the Base Layer.
⚡️Ecosystem news
Base Integration THORChain
Base, the Ethereum Layer 2 developed by Coinbase, has been integrated into THORChain!
As the highest-ranked Ethereum Layer 2 with a TVL of $3.4B, strong ties to Coinbase, and the recently announced cbBTC (Coinbase Wrapped BTC) the potential for this integration is enormous. The Base integration on THORChain means that cbBTC, together with the Base version of Ethereum and USDC, will soon be available to you and the whole Base community to be used in DeFi on Rujira.
Another major chain integrated by the great devs at THORChain. Congratulations!
THORChain University x Rujira Builders
Kicking off the year, THORChain University is introducing a new series of live streams focused on Rujira Builders. This series is a fantastic opportunity for both the THORChain and Rujira communities to learn, in a regularly scheduled environment, about the people driving these projects and the innovations they’re creating.
The first guest is jp kuji, founder of NamiProtocol. Tune in this Thursday at 6 PM CST!
THORChain 2024 Annual report
The Nine Realms team have released the THORChain 2024 annual report. In their report, they review the network stats, swap integrations and important milestones of 2024, and look ahead to the exciting things to come in 2025. One thing is clear, there is enormous growth in the network and we can’t wait to see this growth continue with the integration of additional chains, affiliates and the activity that will happen on Rujira.
🗓️ Upcoming Event
What: THORChain University x Nami Live stream
Who: THORChain University, jp kuji
When: Thursday January 16th, 6 PM CST
What: Rujira x Noble Meet-up
When: Friday January 17th, starting at 6:30 PM UTC
Where: Brewdog, Waterloo (London, UK)
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That’s it for this time, have a great week everyone!