Weekly Roundup By Team Kujira Ep.11

GM Kujirans! What a week hey? Where do I even begin… As the entire space recovers from the pain caused by FTX, the Kujira ethos communicated since inception rings truer today than ever before:

We will produce sustainable, revenue-generating products that are operated both ethically and transparently.

When DeFi rose to prominence in the summer of 2020, the hope was that crypto could provide the infrastructure and tools to take control of your own finances, growing it through innovative and sustainable methods. Somewhere along the way, the institutions and billionaires at the top took this revolutionary technology and manipulated it for their own benefit. In the pursuit of power and money, the greed of the few has caused the pain of the majority. It’s time we take back power.

Kujira Independance Day

Today, Monday the 14th of November, you have experienced and been a part of history — the Kujira Independence Day. This day is not about celebrating the fact that private investors no longer receive vested tokens, although this is certainly beneficial. Instead, see this as the dawn of a new era. A new Kujira.

Given recent events, it is clear that a huge narrative shift is in motion — one that prioritizes revenue-driven businesses akin to the way things work in the “real world”. Ordinarily, I would avoid calling TradFi the “real world” but it’s hard to argue that crypto’s current state of affairs merits any credibility. As a new era of Kujira begins, expect to see the team delivering products and services that reclaim any trust and reputation lost by the actions of some bad actors in the space.

This is a call to arms. There is simply too much talent, too much innovation, and too big a community to allow crypto to continue moving in this direction. It’s time we take ownership back and progress together.

CALC Launches Version 0.1 This Week

The CALC team has gone from strength to strength, shipping their first 2 smart contracts to mainnet this week, with 2 further governance proposals ongoing as we speak.

With the 10-day CALC feature leak coming to an end today, the team can finally announce that CALC will be launching on November 16th, 10:00 UTC.

Further to this, the CALC strategy DAO picked up its newest member. Be sure to stay tuned for next week’s update, I can’t wait to show you what the team has produced.

As a personal aside, it’s a nice feeling to see good people do well. The CALC team should be proud of what they have produced during this time and I am incredibly excited to use this product myself. And to Fabrizio, my man, you are a legend (sorry for forgetting to put you in last week lmao).

Kujira Merch Shoot Complete

Now that we’re all poor again, what better way to enjoy your new-found depression than being comfortable in some Kujira merch? The team hired some beautiful models (no, not Dove) to rep our merch, ready for advertisement on the merch website. With no expected release date confirmed yet, follow the Merch account on Twitter to keep updated.

ORCA Back in Action, USK Peg Held

Now I know someone will already be screaming at me “but USK was $1.03, waaah”. God forbid someone gave you 3% extra purchasing power on a stablecoin. Jokes aside, USK is a soft-pegged stablecoin, meaning that profitable incentives are used to keep USK at $1. Any time USK trades above or below $1, someone somewhere is profiting from this using seigniorage (can see a guide for doing so here.).

Throughout this FTX debacle, USK remained above $1, with the extra demand from ORCA driving price above $1. ORCA managed to liquidate 2146.33 ATOM for 19,985 USK, resulting in an average purchase price of $9.31. The following day, ATOM was priced at $11.24, representing an impressive 20% profit for ORCA depositors. So to summarise, ORCA worked perfectly, USK demand increased as a result, and we provided a profitable and sustainable financial instrument to ORCA-strate it all. Impressive, right?

As more money markets integrate with ORCA, the demand for USK will rise with it and the “Kujira Fly-wheel” will be in motion. I understand it’s difficult to hear “ORCA integrations are coming” without seeing any progress, but as a Team member I can assure you these conversations are progressing. In fact, I had a personal meeting with a team about an entirely different subject that has now resulted in a potential future ORCA integration. I mention this simply to emphasize that behind the scenes, things are moving forward. No rest for the wicked

Kujirans Mint + Competition

As of today (14/11/22), the KUJIRANS mint is still open for you to grab a piece of history — the first NFT collection on Kujira made by the community. As a reminder, the top 50 holders will enter “The Blowhole” — a sub-group within the community dedicated to driving profit and alpha to KUJI stakers and KUJIRANS holders. The Blowhole will also receive private access to the Kujira Wallet for beta testing and feedback, so I wonder if there will be any further benefits in the future…

Also, there is currently a competition ongoing via the Team Kujira Twitter. To find out more, read the Tweet here.

Hero NFT Deposits 40K STARS to Kujira Stakers

Following the success of the Kujira-themed HERO collection, the HERO team has kindly deposited 40k STARS into the staking rewards pool to be distributed to all KUJI stakers. We look forward to seeing how secondary sales can contribute to increasing the staking APR for KUJI stakers!

BOW in Testnet, Coming Soon

Kujira’s Grown-Up solution to low liquidity on FIN is here! I have had the privilege of testing this beauty in testnet, and boy does she purr… In what seems like the final piece of the puzzle, the launch of BOW will revolutionize the UX on FIN, improving trade execution and market depth. Once liquidity is boot-strapped on FIN, the door is left *wide* open for Perpetual Futures to blossom. This is the start of something special!

Entropy Beacon on Mainnet

To celebrate Kujira Independence Day, Entropic Labs have deployed the Entropy Beacon on Kujira mainnet, providing verifiable randomness on-chain. Additionally, we have a few surprises for you.

There will be ZERO fees associated with Entropy Beacon.
To show off the technology, Hans has produced a slot-based game of chance called “Kujirans Lucky Reel” with a governance proposal running currently.

I am very thankful to have the Entropic Labs team build with us, and I’m excited to see other protocols integrate with the Entropy Beacon.

Useful Links and Stats

New KujiKast video with CALC Finance
All-time high KUJI staked (48.6m)
Up to 39k unique wallets
Seed vesting comes to an end

Closing Thoughts

That’s it for this week! Look out for an article regarding The Senate coming this week, Grown-Up Governance will be the focus once BOW is out. I’m off to Portugal this week to celebrate with the Kujira family, so next week’s roundup should be fun! Thanks as always for reading, I appreciate you all.