Hi everyone,
Welcome to Rujira Weekly Recap, where we share all the interesting things that happened recently!
App Layer Progress and SDK v50
We’re nearing a major milestone with SDK v50 expected to go live this week on THORChain’s stagenet. This update will create the App Layer, and set the stage for Hans and the team to start cooking and work their ways towards the official Merge and RUJI Trade, our first product expected by the end of January.
Lots to look forward to here!
RUJI Staking Options
In an earlier post, Hans suggested three various possible models for RUJI staking and asked the community for their preferences. We received a lot of feedback on X and Telegram, with a clear demand for a single sided RUJI staking option. Subsequently, we created a document reviewing various possible staking designs, taking into account community feedback and sharing the reasoning that led us to the proposed model (still subject to change).
We are proposing a dual staking model allowing stakers to choose between two options:
- Single-sided staking with RUJI tokens
- LP staking with RUJI/RUNE LP tokens
100% of the App Layer revenue (net of Base Layer fees) will go to the stakers and be evenly split between single-sided and LP staking.
There won’t be any RUJI Saver vault attached to the RUJI/RUNE LP, preventing LPs in that pool from suffering potential Synth Loss.
We believe this is the optimal way to satisfy the community demand for a single-sided staking option, while also ensuring that RUJI maintains sustainable, deep on-chain liquidity and mitigates potential sell pressure from LP stakers.
For more details about the design options, check out our full document on RUJI Staking Options Considerations.
Boosting Marketing Efforts
We have brought in two marketing interns to increase Rujira’s reach and build more engagement. The official Rujira Intern account on X is now live at @Rujira_Intern, and we suggest giving them a follow for the best insights, entertainment, and sneak peeks!
Prediction Market Coming to Rujira
If you’ve been following Levana’s recent tweets, you may have noticed their launch of a Prediction Market for the US election. We’re excited to announce that they will also be building a Prediction Market on Rujira, ranging from elections to sport bets. The team is currently designing the UI, and we’ll be sharing more details with you soon.
Rujira Frontend for THORChain
With major wallets like Ledger and Bitget recently integrating THORChain, we’re excited to follow suit with Rujira. We are planning to launch RUJI Swap, a frontend for THORChain that will enable us to start collecting affiliate fees for RUJI stakers while waiting for the first Rujira apps to launch.
Rujira Spaces
Last week, markfromdenmar was on a THORChain Space to share an update on Rujira and answer community questions. If you missed it, you can catch the recording here: https://x.com/THORChain/status/1854448779875004569
We’ll be hosting more Spaces soon on topics like the potential of the app layer, our revenue model, and much more. Stay tuned for announcements!
That’s it for this time, have a great week everyone!