Weekly Roundup by Team Kujira: Ep.2


Hello, and welcome to the Weekly Roundup. These short updates aim to summarise all Kujira-related events in the last week, keeping you up-to-date and informed. As the name suggests, the Weekly Roundup will be posted every Monday and should be an easy read for all users on our favorite Blockchain.

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Table of Contents

Launch of USK and ORCA today

What a week for governance! With the passing of proposals 3539 and 40, a new page has been turned in Kujira’s history — the launch of our native stablecoin, USK. For details on what to expect with the launch of USK, you can read our article posted on Saturday.

The launch of USK also brings about the re-deployment of ORCA on Kujira, a community favorite. Using ORCA you can now bid on ATOM liquidations from USK loans, giving you the opportunity to purchase ATOM at a premium to the current market price. There are fees at various stages of minting USK and liquidating ATOM which will all accrue to KUJI stakers to increase the staking APR.

ATLO’S Proposal to Build on Kujira

Atlo has announced it is making Kujira its home chain. Atlo ( Became Fuzion after migration to Kujira) will be focusing on launching projects from all over Cosmos and later EVM and other chains. The team is working closely with Kujira, which has already yielded some exciting innovations around the process of raising funds and backing projects.

Their focus is on giving project teams easy access to funding from across the Cosmos and backers the chance to get behind projects early.

This will bring new pairs to FIN as projects launch, and a portion of fees earned from launches will be directed to KUJI stakers.

For those unfamiliar with Atlo, they launched on Terra in February this year, completing several raises before the collapse in May.

NOMIC BTC on Kujira Testnet

In a tweet from Kujira, we saw the first tease of Bitcoin on the Kujira Blockchain. More specifically, Kujira has partnered with Nomic to integrate nBTC (nomic BTC) with the Kujira network, allowing Bitcoin holders to participate in DeFi on Kujira. This includes, but is not limited to, using nBTC as collateral to mint USK and bidding on liquidated nBTC through ORCA.

That’s right, the community will have access to BTC liquidations in the future to purchase it below current market price… But perhaps the greatest benefit of this partnership is the fact that KUJI stakers will now receive bitcoin through the fees generated.

“Stake KUJI, Earn BTC”

Kujira POD

Following the success of the new staking UI, Kujira has now released it on all your favorite Cosmos chains. This allows you to rebalance your stake to a variety of validators to increase decentralization on that network. They achieve this by delegating tokens away from validators with the highest voting power and distributing them to those with less, increasing the Nakamoto coefficient.

You can do this yourself by navigating to the staking page and choosing your desired Cosmos chain from the drop-down in the top-right of the UI. Within one week, the Nakamoto coefficient on Kujira rose from 5 to 7 following the integration of this UI, and it is hoped this success will continue on other Cosmos chains.

Update from Black Whale

Black Whale recently announced that they had finished building their front-end, contracts and bots for v1 of their market-making protocol. These contracts have now been passed onto Hans (our in-house auditor…) to review before they are sent to official auditors. Once the audit is complete and revisions have been made, the vault will go live on the mainnet, ready for community deposits.

To begin with, the trading pairs included in the market-making service will be limited to the most popular pairs. At the time of writing these are:

However, by the time the contracts have been reviewed by both Hans and the auditors, USK will be well-established as a stablecoin. Once deployed on FIN, the USK trading pairs will also be included in this service to tighten the bid-ask spread.

AQUA on Juno Airdrop to Kujira Stakers

The AQUA team has generously offered to airdrop 1.5% of their supply (1.5m AQUA tokens) to KUJI stakers. You can learn about the amazing work they are doing to provide clean water to those less fortunate on their Twitter. You can imagine this will be the first of many airdrops to KUJI stakers, with outside protocols recognizing the power of our community.

Some Stats for the Week

Once again, brought to you by valued community member Eskers:

  • FIN returns to the top 100 DEXs by 24H volume
  • Additional 500 unique stakers — an increase of 7%
  • Additional 1.8m KUJI staked — an increase of 4%
  • $10.3m IBC volume, ranking us 5th most active IBC zone
  • 6 new governance votes
  • 1.6% increase in Twitter followers this week
  • Looking forward — an average of c.32,000 KUJI per day to be unstaked, the lowest level since July