Weekly Roundup by Team Kujira: Ep.5

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GM Kujirans! I cannot believe I am saying this, but this week’s Weekly Roundup is bigger than all those that have come before it. From new dApps progressing to the proposal phase to USK integrations galore, this week’s episode is a straight banger. If you’re new here, these short updates aim to summarise all Kujira-related events in the last week, keeping you up-to-date and informed.

USK Updates

Since there is a lot to talk about with regard to USK, it requires its own section this week.

USK IBC Enabled

Following the passing of governance proposal 49, USK is now IBC-enabled and can be transferred throughout the Cosmos ecosystem. This provides Cosmos with a native, ATOM-backed decentralized stablecoin to be used in DeFi and trading across the entire network — neat right? Something I will continuously repeat is the need for “demand first, supply later” when mentioning stablecoins, so what else will increase the demand?

Terra Money x Kujira Bridge — USK Soon?

The Terra bridge now supports transfers to and from the Kujira blockchain directly from their website. Now that we have joined the 7 other blockchains supported by this bridge, the next logical step is to allow USK bridging to Terra and incorporate USK into DeFi on the network.

USK on Evmos

You guessed it, another blockchain partnership. SwissStaking is a large validator across many large blockchains, including EVMOS, that would like to see USK used on EVMOS for DeFi and NFT transactions. They have created a proposal to discuss this further, outlining the benefits this integration may have and the mechanism used to create an ERC20 representation of USK. I suggest following this proposal and participating in the discussion!

Rango Exchange Integration

Rango will soon be supporting cross-chain swaps to the Kujira blockchain, thrusting our ecosystem into the inter-chain spotlight. For those unaware of what Rango does, they provide a multichain DEX/bridge aggregator that shows you the easiest route to trade/move assets across various blockchains.

This swap mechanism will be integrated with BLUE too, providing an easy on-ramp of assets from other chains to Kujira.

Black Whale Reaches $400K TVL, New Vaults

As our first governance-approved community dApp, Black Whale had a lot of hype surrounding its launch. I think it’s safe to say their performance has matched the hype, achieving $400,000 TVL already. At the time of writing, the 7-day APY rests at a healthy 62% paid out through sustainable market-making profits and no inflationary incentives.

Proposals 55 and 56 will see 2 more vaults enter the game, ATOM-axlUSDC, and KUJI-ATOM. It is evident for all to see how much liquidity Black Whale adds to FIN’s orderbook, so the addition of more vaults is a welcome bonus.

CALC Returns from Cosmosverse

The boys from CALC took a trip to Colombia! It was all about Cosmoverse, Indexes, ICS, ICAs, and ICQs this week as the team re-imagined how CALC would play a role in the Cosmos ecosystem.

Rekt Validator also hosted a CALC-specific Twitter space where some Alpha was dropped, listen here.

Finally, CALC and Local Money have taken their partnerships to the next level with some exciting integration plans that redefine what grown-up protocol partnerships look like. More on this soon…

Oh, the new CALC website dropped too — boy is it sexy.

Kujira NFTS on Stargaze!

Stargaze have been building at lightning speed during this bear market and have earned our respect with their work ethic. For this reason, we have decided to use Stargaze as our NFT launchpad of choice, with 3 upcoming launches:

Kujirans NFT

Kujirans is an NFT collection created by members of the community. Given that these are NFTs for the community, by the community, 100% of royalties will be funneled to KUJI stakers as well as 50% of the mint proceeds. In this way, the project revenue stays within the Kujira ecosystem and continues to contribute to the sustainable staking APR.

Hero x Kujira

HERO is an NFT collection that will mint October 14th on Stargaze. Now that voting has passed to feature HERO on the launchpad, details surrounding the collection will be made available on their Discord. They have also been running competitions all week to earn yourself a whitelist spot, so follow their Twitter for your best chance to get a HERO yourself!

Akhluts of Kujira sold out

Trusted community validator Rekt Validator unveiled the 1st homage Kujira NFTs last week, selling out incredibly fast. These are live on Stargaze marketplace now, with a floor of 250 STARS. Once again, 100% of the royalties are being distributed to KUJI stakers — there’s a theme here…

Kado Launches Fiat On-Ramp

We’re aware that bridging assets to Kujira is not the simplest for new market participants. Because of this, a fiat on-ramp directly into the Kujira ecosystem was so important. Now that KADO has launched, users can connect their bank account and deposit funds directly into Kujira to take part in a variety of different DeFi strategies.

But what other dApps are progressing through the ranks at Kujira?

Fitlink is a Move-to-earn (M2E) protocol that allows users to earn $BFIT based on their fitness performance on a leaderboard. The team aims to solve a growing health crisis by incentivizing people to get out of the house and exercise, with their activity tracked by various apps/wearables.

For individuals, the app will be free but for businesses, Fitlink will charge $5/month to allow them to manage their own wellness campaigns. Read their proposal for a more detailed explanation.

What does this mean for KUJI stakers?

  • $BFIT airdrops
  • Additional membership level dedicated to KUJI stakers. This unlocks unique fitness rewards and allows the community to compete in dedicated Kujira leagues.
  • A percentage of $BFIT minted by app users is earned by KUJI stakers

The rewards keep rolling in!

Entropic Labs

Entropic have produced the Entropy Beacon — a cryptographically verifiable on-chain randomness mechanism. This is incredibly important for projects in which randomness is key, for example on-chain casinos. They are the first to do so on Cosmos and are already live on Terra, so we’re very fortunate to have the opportunity to work with them.

Dloyal Refer

DLOYAL is a performance marketing and sales platform for Web3, built on Kujira.

Their major goals are as follows:

  • Increase Kujira’s total revenue
  • Bring high-value actions to Kujira, such as liquidity on FIN or minting of USK
  • Bring new users that are not native to Web3

Once their governance proposal goes live, they will be asking for funds from the community pool. However, they have promised that any revenue produced from DLOYAL Refer will be used to pay back the community fund before any revenue accrues to the team. In fact, 10% of revenue after the community fund is paid back will be directed to KUJI stakers (AGAIN, I KNOW).

They have written an extremely detailed medium post describing how this affiliate program will work, so make sure to read this before the governance proposal goes live.

YouTube Guide for Beginners

Xulian from KujiDAO has very kindly put together some short Youtube videos that detail how to do various tasks on Kujira. This includes how to bridge assets, How to stake your KUJI, and How to liquidate using ORCA.

As a visual learner myself, I can appreciate how useful these will be for many new Kujira participants, so I’d like to thank Xulian for this.

Some Stats for the Week

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

  • Only 19.5m KUJI left to vest, with seed investors/private round set to end in c. 6 weeks.
  • Increasing volume traded and liquidity in FIN’s orderbooks due to the $400k TVL of BlackWhale.
  • 770,000 KUJI staked this week — less than the weekly average however this is impressive given the 1.1m KUJI that unbonded during the week.
  • The coming week sees unstaking at 50% of this week’s rate.

Closing Thoughts

If you’ve made it this far, you’re a legend — I told you this would be the longest week so far! As a team member myself, it is inspiring to see how hard the core team works to make these integrations happen, so to see the fruits of their labor is exhilarating.

As you can see, the ecosystem is really ramping up now with dApps that encompass various different sectors of Web3 and of course a % of revenue distributed to KUJI stakers in all cases. These are exciting times to be a Kujiran.

Kuji Peruggi

Kujira Academy cofounder. Plucky Penguins founder.

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