Hi Everyone!
Welcome to Rujira Weekly Recap, where we share all the interesting things that happened recently!
⚡️Rujira updates
Rujira’s Omnichain DeFi is Bitcoin DeFi
Bitcoin, the 7th largest asset by market cap, is a pillar of the crypto industry. Yet, despite its significance, it has remained disconnected from one of crypto’s most transformative innovations: DeFi. The lack of smart contract support on the Bitcoin blockchain has made it impossible to build advanced DeFi applications on the network.
This forces Bitcoin holders to make a difficult decision: they either have to hold their Bitcoin, lock it up in their wallet and do nothing with it, or use one of the existing DeFi solutions that rely on wrapped BTC, which introduces third-party risks or involves centralized entities.
Powered by THORChain’s Secured Assets, we are the first protocol to bring real DeFi to Bitcoin with our DeFi suite. Users will be able to use their native BTC across our products and enjoy a CEX-like experience with a best-in-class UI, but fully decentralized and accessible directly from their Bitcoin wallet.
Read this article to learn more about the opportunities and how our products will play an important role in Bitcoin DeFi.
CosmWasm and THORChain v3.3 update
Earlier this week, we shared an update on CosmWasm, confirming that it will be included in the upcoming THORChain upgrade, v3.3. CosmWasm will enable smart contract capabilities on THORChain, completing the final step for the Merge and the launch of the first RUJI products. To proceed with the merge request for v3.3, we needed approval from three different teams and last night, the third vote was secured, officially green lighting it.
With CosmWasm now approved, we’re moving into the final release process, which includes three critical steps:
- Deployment of THORChain v3.3 on Stagenet
- Rigorous testing on Stagenet with our products
- A vote by the Nodes for the deployment of upgrade v3.3 on mainnet
Once v3.3 is live on the mainnet, the Merge will follow shortly after.
⚡️ Ecosystem news
Nami Whitepaper
“NAMI delivers fully optimized yield on single assets for EVERYONE.”
Nami Protocol released its whitepaper this week, describing their vision and what they are building on Rujira. While their initial focus was on stablecoins, NAMI has expanded to support a wider range of assets, including Bitcoin and Ethereum, with a focus on optimizing yield by allocating assets across various opportunities in the Rujira ecosystem. This will take a big responsibility off the users’ shoulders, as they no longer have to pay close attention to the different yield opportunities and manually rebalance, and can rely on NAMI to maximize the yield instead.
To learn more about NAMI, check out the whitepaper or watch the interview with JP Kuji, Zefiro, and THORChain University in the “Last Week’s Events” section.
Vultisig TGE announcement
Our friends at Vultisig have announced the date for the TGE of their $VULT token in their latest Spaces. The token is set to go live on March 27th at 1 PM UTC on Ethereum. The first phase of the launch will last 24 hours and is reserved for early supporters who have received a whitelist spot. After that, the second phase begins, opening trading to everyone.
More details on the launch, tokenomics and the utility of the $VULT token can be found here.
🗓️ Last Week’s Event
What: THORChain builders chat – Nami
Who: JP Kuji, Zefiro, THORChain University
What: $VULT Launch Date Announcement and Project Update
Who: JaneDButterfly, Paaao
🗓️ Upcoming Event
What: The Merge
Who: All $KUJI, $rKUJI, $LVN, $WINK, $NSTK and $FZN holders
When: Dependant on THORChain v3.3 being live on mainnet
What: Omnikast – The Merge
Who: RujiKast & Community members
When: Dependant on THORChain v3.3 being live on mainnet
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That’s it for this time, have a great week everyone!