Weekly Roundup by Team Kujira: Ep.18

GM Kujirans! It’s finally 2023, so we can all pretend we’re going to be better people this year together. If you managed to go the week without posting your New Year’s resolutions, I’m seriously proud of you. There’s a lot to look forward to this year for me personally, Arsenal winning the league being one of them, but 2023 will undoubtedly be the year that Kujira cements its place amongst the DeFi greats. I can’t wait for everybody to see the fruits of our labor, we’ve been working incredibly hard to make things happen and the results will show soon.

Without further ado, let’s get into this. As always, these articles summarize all Kujira-related news over the last 7 days, keeping you up-to-date and informed.

SCRT Shenanigans

Dual Incentives on BOW for SCRT-USK

If you’re a secret supporter, then boy did you enjoy the last 7 days… Following a discussion on the Secret Forum, a proposal asking for 5k SCRT as incentives for BOW passed, which combined with 5K KUJI from protocol funds, has resulted in an APR of over 100% at the time of writing. This has helped to attract over $69,000 (kek) in liquidity to be used for market making on BOW, providing a superior trading experience for Secret investors on FIN.

The Proposal Process

This proposal was created by the one and only Ertemann from Lavendar.Five nodes, in a process he outlines here:

As you can see, community contributions can result in hugely beneficial outcomes for Kujira. Not only does this deal cement a closer relationship between Kujira and Secret, it also helps to onboard more users to our ecosystem — a big win-win. Huge shoutout to Ertemann for the effort he put into this, legend.

DCA SCRT on CALC

The news doesn’t stop there… Now that the orderbooks are filled with bids and asks from BOW, CALC have produced a SCRT-USK vault to allow you to DCA into and out of SCRT. A good week for Secret on Kujira.

Kid Kuji “In the Mixer” with CALC

This week also saw the first Twitter Spaces from Kid Kuji in his new series “In the Mixer” where he interviewed our one and only Fabrizio from CALC for an hour. You can listen to the recording of it here, with a breakdown of what occurs at specific time points.

Fixed Price Swap on BOW

You may have noticed a featured update on the swap tabs of both BLUE and BOW called “Fixed Price Swaps”. This brings the power of limit orders to the simplicity of the swap interfaces, all powered by FIN’s orderbook. Although these orders might take longer to execute, there will be 0 slippage involved and you help to bolster liquidity on FIN’s orderbooks. Give it a try here!

Logical Graphs: Stategies to Profit on FIN

If you’re like me, you’ve seen Logical Graphs posts on Twitter and thought “This looks interesting, but what on earth is this bloke talking about?”. Well, today is the day we decipher these strategies together. I’ve employed the help of the man himself (what do we call him, Logical? Log?), and here’s what he had to say about the axlUSDC <> USK arbitrage:

When placing orders to profit off arbitrage in the axlUSDC <> USK orderbook, you have two real options:

Place bid/ask orders +- a few % either side of the current price. For example, if the current price is $0.95, buy orders are set for $0.94, and sell orders at $0.96
Place bids just above large limit buys seen in the orderbook, or place asks just below large limit sells seen in the orderbook. This works to front-run traders that want to execute trades into large orders, guaranteeing you are filled first.

We both agree that option 2 is perhaps the best strategy for maximizing profits; an example can be seen in this orderbook. Placing a limit buy just above the large order at $0.9185, and a limit sell just below the large order at $0.96 would result in nearly 4.5% profit.

The axlUSDC <> USK orderbook is fairly active too and has resulted in many profitable trades for Logical Graphs as seen on his Twitter account. This is a simple strategy to profit from the orderbooks on FIN, next week we will have a more complex strategy for you to make things interesting.

SRL Finance Updates

Although SRL Finance have been quiet on Twitter, these lads have been building. I spoke with TheDeFiFanatic this week and here are the major updates to bring you:

95% test coverage complete, deployment soon
Changed from the underlying AMM being a Uniswap clone to the more capital-efficient concentrated liquidity model. This makes providing liquidity for wrapped and pegged coins much more efficient and provides a superior UX
This change in the game plan was (for obvious reasons) unpredictable and is why things took slightly longer than expected, but the product will be shipped soon!

If you need a reminder, SRL Finance aims to create a self-repaying loan protocol on Kujira that allows users to automatically pay back loans using the yields generated by yield-bearing assets.

Kuji Kast Corner

Voted worst column of the Weekly Roundup in 2022, here’s a word from Danny:

I feel like I should grab your attention right off the bat. I looked on the internet how to do that and it said give people a compliment. Here goes –

Hey. You look really good in that shirt you’re wearing right now. Aren’t you the belle of the ball?

Cool. Now I’ve got you it’s time for business…

So it’s a new year and I can’t describe the joy it brings me. Because it does not bring me joy. But it is still an important time. We need to really go at this year (and the year after and the year after and so on).

We’re part of something special here and we can all do our bit to help make Kujira be what it should be. Let’s all support each other, build it up in our own ways and make this community a psycho legend. Let’s think outside the box. And in it too. And in other boxes. Let’s get in each other’s boxes…

Kuji Kast are gonna be working like crackheads (good ones) this year and we’ve got loads of madness planned. We’re gonna be like a Bull in a Chinese shop. In a good way though.

I look at other projects and they just aren’t doing what we are. It is a long walk around the garden of their issues. So for Kujira let’s go ‘ham’ as the kids say. I’m going to. And I would never listen to a kid but this time I will as a one-off.

Good luck. I wish you all the best in life, love and online.

Truer words have never been spoken by a crackhead.

Important Side-Notes for the Week

Xulian is hosting a Twitter Spaces tomorrow at 9 pm UTC. Add this to your reminders here.
Demex integrates with Kujira
Staked KUJI is now at 56.6m, over 50m transactions have been sent, and over 41.2k unique wallets have been created.

Closing Thoughts

As you can see, I am slowly including more community members in these Roundups in an attempt to transform this into a “community newsletter”. Ideally, this will be more than a summary of Kujira news and will help encourage/galvanize this community to come together as a collective to foster good relations among our members. On that note, if you do want to contribute, be sure to send me a message on Twitter.

Thanks as always for reading this week, I hope you enjoyed your holidays and are back raring to go again. See you next week peeps ❤