Table of Contents
- Senate Update
- Reel Finance
- STARS incentives on BOW
- Local Money Migration to Kujira
- Kujirans NFT 100% Mint
- Validator Voices – Kujira Track
- KUJI Staked with Inactive Validators
- BOW and CALC Trading Pairs
- Search Function BOW/BLUE
- Kuji Kast Corner
- Stats
- Closing Thoughts
Gm Kujirans! I hope everyone has duly recovered from their festivities, with many of you back to work no doubt. By the time this article comes out, I would’ve had my first uni exam of the year, so good luck to me I guess? This week’s episode is chocked full of community content which is truly wonderful to see, so I hope you all will enjoy it — remember you can contribute too by DMing me! And you’ll be glad to hear there will be no Arsenal content this week for the first time in 19 weeks…
As always, these articles summarize all Kujira-related news over the last 7 days, keeping you up-to-date and informed.
New Senate Update
The time to vote is nearly upon us! An estimated ETA of the 15th of January has been set for individuals to vote for the applicants they want to see on The Senate, so be sure to have your shortlist ready. You’ll be pleased to know the voting parameters will be slightly tweaked from those stated in this tweet to encourage active voting and participation, so look out for a tweet coming very soon on this (was going to wait to post this roundup, but can’t break tradition now can we…).
EDIT: See this tweet for the changes!
Reel Finance on Kujira
This week, Reel Finance announced they will be launching on Kujira. To learn what Reel Finance is, and why they chose to build on Kujira, I spoke with Coleman to get his response:
Reel Finance hasn’t set about to reinvent the wheel, there are traditional finance products available for lending within the film industry. However, these current centralized products are limited depending on the country and they are also often expensive & cumbersome in terms of application processes. What Reel has to help make it work is Krystian. Krystian is a film producer with over 20 years of experience in the industry and the extensive network of contacts he has developed within the industry over this period represents our customer base going forward.
Our market entry product will be loaning against collateral such as government-issued tax credits (very low risk). Our goal is to scale to offer medium and higher-risk products which will eventually allow retail investors to review film pitch decks and lock in capital in exchange for full film equity, sharing in actual profits of the film itself. Ideally, we are looking to scale to multiple projects being lent to simultaneously with each project generating a percentage in fees & interest allowing us to offer stablecoin (USK, USDC) vaults for people to lock into in exchange for a stable % yield from the overall profits generating by our lending product/s.
We chose to work with Kujira for a few reasons. We felt that it would be important for us to launch Reel on an L1 that can offer us one-to-one connection/communication with the founder. While there are other L1’s & even some L2’s that might also be a good fit for Reel Finance, very few can offer us this intimate connection at the decision maker level which we feel is important in order to ensure that development is swift. All development can be discussed, agreed and applied in the same conversation. Trust is paramount as is contract security, as Kujira devs will be building Reel’s smart contracts. Having a history with many of the team members is reassuring for us, they stood up and supported us after the UST crash for example where many others might have just faded into the background, they were there for us when we needed them with little or no upside to themselves at that point. This meant a lot to us.
Thank you Coleman, I REELy appreciate this explanation. Reel-world usecases for USK are just beginning…
STARS Incentives for STARS-USK on BOW
Before I begin, a huge shoutout must be made to C3drik of Narwhal Validator for his work on this proposal. It was, in his words, “hanging over him like a raining cloud” for a few weeks due to issues with posting the proposal and getting the Stargaze community to correspond, so to see this proposal up is glorious. This truly was a community effort led by an absolute GOAT and is another example of this community producing meaningful and lasting impacts on Kujira’s path forwards.
Now, onto the proposal. You can find the proposal here on Stargaze which closes on the 10th of January (so go vote!). The proposal asks for 100k STARS to incentivize the STARS-USK vault on Kujira linearly over 8 weeks, with the aim of strengthening relations between the two communities and creating deeper liquidity on FIN for STARS on Cosmos.
Local Money Migration to Kujira
In a recent tweet by Local, the team are ready to start migrating from Avalanche and Terra Classic to Kujira mainnet. This involves the passing of governance proposals 136, 137, and 138 to prepare for the migration, before LOCAL is listed on FIN w/ incentivized trading pairs on BOW. This marks the first step in LOCAL’s deployment to Kujira mainnet, and one of the last steps before the full product launch! Be sure to follow LOCAL on Twitter for more updates and information on how to migrate your tokens too.
Kujirans NFT 100% Mint
The first NFT collection on Kujira has fully minted out as of Sunday the 8th, so huge congratulations to the team at Kujirans NFT. Now that the collection has been minted, Velcro can unstake the STARS and transfer 50% of the minting revenue to KUJI stakers in 2 weeks. This amounts to approximately 1,860,000 STARS! Remember, Kujiran holders that qualify for The Blowhole will gain many additional benefits such as beta access to Kujira’s Sonar wallet, so be sure to pick up a few on the secondary market if you missed it.
Finally, The Blowhole have setup a competition where users can send individual Kujirans to a burn address, with each Kujiran sent acting as one entry. Once the competition closes at the end of January, the winner will receive 50% of the Kujirans sent to the burn address, with the others burnt (obviously…). For more details, see this tweet.
Validator Voices: Kujira-Track
In continuing the effort to provide a voice to our esteemed validators, I spoke with Kujira-Track about what it’s like to be a validator on Kujira:
We reached KUJI after Terra collapse attracted for the grown up defi concept.
First we invested, then we built a tracking website thinking always in what kind of dashboard we would like to check on daily basis.
Once we reached that point we decided to be more involved with the project and because of that we launched our own validator.
The firsts steps were very complicated but thankfully Kujira validators are always keen to help the newcomers.
Although we were expecting a more competitive environment, what we found was a community where the chain interest was more important than the self interest .
As validators, we have experienced several issues, most of them based on our inexperience in running a node. Maintenance does not understand dates!
For instance we had an issue on the 24th of December at 6:30 AM and we had to run some maintenance tasks.
In conclusion you need to constantly monitor the status of your node and be ready to perform the required actions at any time.
I hope you appreciate this insight into what it’s like validating on this blockchain, but also shines a light on the cohesiveness and collaboration shared between our validators. I hope to show you more examples of this in future episodes!
KUJI Sstaked with Inactive Validators + Slashing
There is still around 500k KUJI staked with inactive validators on Kujira and therefore receiving ZERO staking rewards. These validators are:
- Cetacean capital
- Fresh Kujira
- Capapult
This can be seen by navigating to this staking tab of BLUE. I strongly recommend that you redelegate to another validator immediately in order to receive rewards. There have also been some validators that were slashed recently, which results in the loss of some of your staked KUJI. Make sure to stake with active validators whose voting decisions align with yours, and that maintain uptime.
BOW and CALC Trading Pairs on UI
More Quality of Life fixes for you — the boys have added handy “BOW” and “CALC” shortcuts next to the available trading pairs. When clicked, these buttons will direct you to CALC DCA vaults, or to BOW to provide liquidity.
Search for Tokens on BLUE/BOW
Now that we have so many trading pairs on BOW and FIN, the need for a “search” function became apparent. Fear not, the boys have now got you covered. Try it for yourself on BOW or BLUE now!
Kuji Kast Corner
I don’t even know how to introduce this anymore… Here’s Danny:
I was outside today. It was nice and I thought I should call someone to hang out. Then I realised I don’t have any friends so I just got confused and bought some bread.
Shout-out to Sharon’s bakery.
So it’s properly a new year now. I just ate 27 egg yellows for the protein and I’m ready to go. Last Saturday was the 6 month anniversary of the first Kuji Kast episode and we’ve been going harder than ever. We have a heap of episodes and other things on the way plus some surprises too. Excited? You need to calm down. Stop embarrassing yourself.
The Kuji Story competition is coming to a close and I wanna give a massive shout-out to KujiMonsta who has been so great with us behind the scenes helping to make cool stuff happen for the community and without him things like this wouldn’t be possible. Legend.
The Senate is also on the way and I think this is a great thing. Voting is coming soon and I’d love your vote (Togwos is my name but really it’s Danny). Inside of me is a man… A man who cares deeply about Kujira. I will do everything I can to satisfy him and it’s my dream to see all of you have a man inside of you too.
It’s time for us all to do great things. To knuckle down, be passionate and give it our all. I’ll leave you with one last thought to give you some inspiration:
Some Stats and Information
- USK minting at ATH — supply now $715k
- Staked KUJI still climbing, 57m now staked
- Vanessa Harris “The Senate” AMA on YouTube
- THERE IS NO $KUJI ERC20 TOKEN
- CALCulated Thinking — anchoring bias with Pepe
Closing Thoughts
Thank you to all the community members that contributed this week, the Weekly Roundup is slowly manifesting into the vision I set out when I first started. Things will only get better from here, so if you want to participate, send me a DM on Twitter. I appreciate all of you that read these every week, and I hope to see you again in 7 days. Ciao!