Weekly Roundup by Team Kujira: Ep.4


Table of Contents

GM Kujirans! Another week has passed with (unsurprisingly) a shed-load of content for me to tell you about, so welcome to the next episode of Weekly Roundup. These short updates aim to summarise all Kujira-related events in the last week, keeping you up-to-date and informed. And yes, this is becoming a full-time job for me at this point…

Liquid Staked ATOM as Collateral for USK

Surprise, we leak alfa in Weekly Roundups too! After conversations with both pStake and Stride, their liquid staking ATOM derivatives (stkATOM and stATOM respectively) will be used as collateral to mint USK in the near future. This allows you to borrow against your ATOM while earning the staking yield simultaneously, increasing capital efficiency. Look out for more collateral options soon!

IBC for USK Proposal

This one is huge — getting USK IBC-enabled allows USK to be used throughout the Cosmos ecosystem, providing the network with a native stablecoin it’s required for a long time. Vote on proposal 49 to make this possible, and continue reading below for a potential partnership that may arise from this…

Coinhall AMA Alfa — USK Integrations

In typical Dove fashion, the AMA with Coinhall was riddled with alfa. The first major announcement was the introduction of a professional Kujira merch store using WooCommerce with USK as the central payment method. Once more, the boys are focussed on providing demand for the stablecoin, making it the centerpiece of the Kujira fly-wheel.

However, in my opinion the highlight of this AMA was a passing comment by Dove that mentioned a major network had expressed interest in making USK the major stablecoin of their ecosystem. Once IBC is enabled for USK, it can be easily transferred throughout the Cosmos ecosystem to be used on dApps deployed on many different networks. Once again, this brings more demand for USK within Cosmos and helps to cement it as a competing stablecoin.

A recording of the AMA can be found here thanks to Finn at TerraSpaces, so a massive shoutout to them. Finn records, edits and uploads these podcasts out of his own pocket, so if you found this recording useful please consider donating to him.

Black Whale Vaults Live on Mainnet

That’s right, the first dApp produced outside of the core team has been deployed on Kujira mainnet! In case you need a reminder, Blackwhale offers Market-making as a Service (MMaS). Here, users can deposit KUJI and axlUSDC into a vault before Blackwhale uses these funds to market make on FIN in order to profit from the bid-ask spreads. Governance proposals 4647 and 48 will add more trading pair vaults to the service, increasing liquidity across FIN.

These tools aim to provide more liquidity in FIN’s orderbook, decentralize market-making, and provide tools to encourage external DeFi users to enter Kujira’s ecosystem. However that’s not all — the team will be creating other vault strategies for users to earn passive income on their assets. I’d like to congratulate the team for their rapid development and successful deployment on mainnet.

New Discord Forum Channels

Discord have released a new feature called Forum Channels that lets you organize conversations/discussions more effectively. Unlike a regular channel where everyone talks about a different topic causing and discussions are disrupted, the Forum feature splits different topics into individual threads or posts.

This makes it easier on people to follow a conversation they are interested in and is extremely helpful when discussing governance proposals. Check it out now on our discord.

The CALC Machine Keeps Moving

With the initial smart contracts up and running on testnet, frontend version 0.02 was released which includes some great functionality. Within the CALC team itself, the technical co-founder has gone full-time and the Community Strategy DAO appointed its first 4 DAO members to increase their decentralization efforts.

Interested in joining the DAO? Send CALC an intro message on Twitter.

Lastly, Rekt Validator and CALC are hosting a Twitter space this Thursday. Dial in to hear about CALC’s strategies, backtesting results and have a chance to ask the team anything.

Follow Rekt Validator for the link.

New Community-Made Dashboard

We have a new dashboard! Besides nailing the aesthetics of the UI, this dashboard provides valuable information on trading pair volumes, unique wallets, and staked KUJI. This information is presented neatly in graphs to show the progression of volume over time. It’ll be worth keeping an eye on this as perps are rolled out across many different trading pairs and more features are added!

Thanks again to Ocebot and Peter Slim for producing these graphic metrics, they also have a new validator up and running so please consider staking with them if you find this dashboard useful.

Future Kujira Marketing Campaign

To mark the end of private sale vesting in November, the boys will unleash the dragon — a host of marketing and promotion campaigns. I’ve been privileged enough to hear a few of these myself and believe me when I say it is indescribably hard not to leak it to you all — just stay tuned.

“Where will you celebrate Kujira’s Independence Day”

Some Stats for the Week

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

  • 2 forthcoming NFT collections coming soon — Kujirans NFT and HERO.
  • 1000 new unique wallets.
  • Unique delegators also grew by 730, suggesting new Kujira users are staking their KUJI.
  • Total KUJI staked increased by 240,000.

KujiKast — https://twitter.com/TeamKujira/status/1572259779078152195

Danku video — https://twitter.com/TeamKujira/status/1572222282298232834

That’s all for this week folks! If you’re building anything on Kujira that you’d like to have mentioned in next week’s episode, please contact me on Twitter.

Written by Kuji Peruggi