Weekly Roundup by Team Kujira: Ep.23

GM Kujirans! This week’s episode comes from sunny Portugal! Imagine the setting — crystal blue waves crashing against the shore, a pristine pink sunset cast over the horizon, and Max’s stinking feet ruining the setting. The KujiKast boys have kept me company for the last two days in anticipation of seeing Dove, Brett, and Hans (oh, and Clayton. Who invited him anyway?) tonight, so if things get leaky on Twitter you have us to thank.

Let’s kick things off then shall we? As always, these articles summarize all Kujira-related news over the last 7 days, keeping you up-to-date and informed.

Written by KP

MARS Token Live on FIN

Not gonna lie boys, this evening was goated. The $MARS token from Mars Protocol went live on the 3rd of February and was traded exclusively on FIN for the first few hours, before eventually being listed on Osmosis. During this time, the Mars discord was filled with people trying to bridge to Kujira and learning how to use FIN, with all hands on deck assisting these users. From community members to the Kujira team, the entire community came together to welcome a new wave of participants on FIN and BOW, a sight to behold.

In just 3 days, nearly $300k of trading volume was traded via the axlUSDC or USK — MARS trading pairs, nearly 30% of all volume in this period. Remember, the trading fees are all funneled to KUJI stakers, so the entire ecosystem benefitted from this move. In fact, the Telegram was filled with messages like “Wait, there is ZERO slippage on limit orders?!?!” and “Wow, FIN is actually pretty neat to use”, making the evening particularly enjoyable for the team.

The team has also incentivized two MARS pools on BOW, earning 200%+ APR at the time of writing. Check out the liquidity pools here:

If you are new to Kujira/FIN due to the MARS trading, welcome! We hope you enjoy your stay 😉

Local money Beta Live

The wait is over, http://app.localmoney.io is here! You may now buy and sell USK and KUJI for $ARS, $BRL, or $COP without centralized 3rd parties. Without the need for a central authority, transactions can be conducted directly between parties, allowing for more privacy in financial transactions whilst eliminating the risk of censorship. Please note that during the Beta phase, trades will be limited between $1 & $100. LOCAL was one of the first protocols to be funded on Kujira, so it really is a joy to see them deploy on our blockchain. In the words of the team:

“The decentralized p2p revolution has started!”

Terra Alliance Testnet Integration

To solve inefficiencies in revenue sharing from third-party protocols on Kujira, we will be integrating Alliance. This allows any token to be staked to a validator to earn chain rewards, while a % of those tokens are taxed and distributed to KUJI stakers.

For example, through governance we can allow LOCAL to be staked with a validator on Kujira before configuring two parameters:

Rewards rate — % of chain rewards that stakers of LOCAL will receive. For example, a 10% reward rate would result in LOCAL stakers receiving 0.2% APR (10% of 2) in normal KUJI staking rewards. Therefore, staking LOCAL allows you to earn rewards in a plethora of tokens
Take rate — % of staked LOCAL that are taken as tax and distributed to KUJI stakers.

Alliance provides an elegant solution to funneling revenue to KUJI stakers from third-party protocols, whilst exposing these tokens to the variety of rewards earned on our blockchain. Keep an eye out for the mainnet launch!

Cosmos Chains Leading TVL Growth

From data sourced by DeFiLlama, here you can see the top blockchains in all of crypto by monthly TVL growth:

The top three blockchains all coming from the Cosmos ecosystem is incredible to see and is a testament to the maturation of products being built. And of course, Kujira is coming for the top spot! I look forward to seeing Cosmos grow over the next few months as liquidity returns to the markets.

Kujira YouTube Channel

I know it has been teased for a while… This week saw the launch of the official Kujira YouTube account, with intuitive guides for a few applications on Kujira with many more to come soon. Just think, next time someone comes into Telegram to ask how to unstake KUJI, or how to deposit on BOW, a simple YouTube link will save you hours of time and headache.

Special thanks to Jan for taking the time to edit these videos and sort out any audio issues, and to the unnamed British guy who voiced the episodes. Maybe a career in radio is on the cards?

CNTO Airdrop to KUJI Stakers

One of our wonderful validators, Synergy Nodes, airdropped CNTO tokens to KUJI stakers this week. CNTO is the token for a new DEX called Ciento exchange, the first DEX on Acrechain. CNTO will be listed at $1 on Ciento exchange in the coming weeks, so be sure to follow the team on Twitter to find out more.

Kuji Kast Corner

To switch things up, and because Danny has had enough of Max’s freeloading, this week’s rendition is brought to you by Maximus:

So I’ve decided to step out of the closet, not in that way, but in writing a section for Kuji Kast corner.

I thought what better way to pop my cherry than providing you with a pep talk.

Life is a game of inches you never know how many inches is enough but you got to fight for your inches each and every day till the day you die. The day you stop fighting for that inch, is the day you stop living. Go fight, and get your inches no matter how small or big they’re in life. Love and cherish your inches.

Your new life coach Maximus

Also, Danny doesn’t say hi.

I’d congratulate Maximus for this massive achievement of writing his first piece, but he eats Bran Flakes for breakfast so he’ll get no praise from me.

Logical Graphs: Strategies to Profit on FIN

The KUJI — ATOM Arbitrage:

Note the price of KUJI on the KUJI — ATOM pair and the KUJI — axlUSDC/USK pairs. Let’s say the price of KUJI on the KUJI — ATOM pair is $0.83, but on the stablecoin pairs it is $0.80
Purchase KUJI at $0.80 on the KUJI — axlUSDC pair
Sell KUJI at $0.83 on the KUJI — ATOM pair
Sell ATOM on the ATOM — axlUSDC pair to lock in the profits of the arbitrage, taking advantage of the difference in price ($0.83 — $0.8).
Rinse and Repeat! You may also accumulate ATOM if you repeat this method without selling it for stablecoins, increasing your stack slowly.

As FIN has so many pairs now, with a single token being traded on multiple trading pairs, there are multiple opportunities for arbitrage. Taking advantage of the discrepancies in price between trading pairs is a super simple strategy to earn a profit on FIN, and the opportunities are endless! Special thanks to Logical Graphs for this strategy as always, you can see the original article by clicking here.

Closing Thoughts

Thank you for reading this week’s episode, I’m off to get absolutely battered with the boys tonight. It’s great the see the community galvanized and raring to go (funny how numba up does that), long may it continue. If you would like to contribute to the Weekly Roundup, please dm me on Twitter to be a part of something special, just ask Logical Graphs — it’s good fun! I appreciate all of you that read this far every week, the real gangstas. See you again next week 🙂