GM Kujirans! I hope everyone has had a wonderful week. Me? Arsenal are still top so I’m great, thanks for asking. In other news, this week sees a total revamp of our governance mechanism, with the elections of “The Senate” happening as we speak. To find out more about this, and stay up-to-date with all Kujira-related news, continue reading below!
Table of Contents
- The Senate
- Black Whale Vaults
- Orca Analytics
- Kujirans Roadmap
- Wallet Dust Conversion
- CALC Update
- Useful Links
- Closing Thoughts
New Governance — The Senate
To avoid repeating what has already been said in the new article regarding this, I will only briefly explain how this works. For this reason, I urge you to read the article given that governance is your opportunity to shape the future of the network.
Put (extremely) simply, The Senate is a community-elected institution that are expected to publicly discuss community grants with the community before voting on the proposal. They are then expected to review the progress of protocols given grants and oversee the repayment of the community pool if included in the proposal.
These members can be added/removed via governance proposals and therefore act as an amplified voice for the community. To apply for a position on The Senate, fill in this form. All responses can be viewed in a Google Form to be discussed by users of the network.
Black Whale New Vault
The success of Black Whale cannot be understated, achieving nearly $750,000 in TVL since its inception. To achieve this, more vaults have been added since it first launched, including:
To add to this, a recent article by George9D was posted to Medium that compared the MMaS vaults from Black Whale to a traditional Liquidity Pool which I believe is worth the read.
Analytics Are Back on Orca
What do Orca analytics and your friend’s mom have in common? They age like fine wine… That’s right, she’s back and sexier than ever. A community-favourite since the Terra era, the analytics dashboard can now be seen here.
In this dashboard, you can see a few useful pieces of information:
Collateral by Risk Ratio — Tells you how much collateral is locked up in loans of a specified Risk Ratio. For example, in this image, you can see $133k of collateral is locked up in loans that have a Risk Ratio of 84%.
Cumulative Collateral by Risk Ratio — Perhaps more useful, this statistic tells you how much collateral is locked up in loans at or above a specified Risk Ratio. For example, $141k of collateral is locked up in loans that have a Risk Ratio of 84% OR HIGHER.
These can be used to estimate how much collateral will be liquidated if the price drops x%, and therefore calculate the optimum premium to bid on in ORCA.
New Kujirans Roadmap
What started as a fun community NFT project has now developed into something much, much more. I’ll describe a short summary of the proposed roadmap, however the complete version can be read here.
- 100% revenue to KUJI stakers
- 50% mint revenue to KUJI stakers
- Team funds staked with Narwhal validator, 50% commission to all KUJI stakers.
- KUJI Island game under development
- Second mint
- Incentives to hold NFTs from all mints
I personally look forward to seeing what the team can produce with KUJI Island and wish them the best of luck with the upcoming mint.
Convert All Wallet Dust to KUJI
Governance Proposal 67 saw the instantiation of “the FIN Multi-Swap contract for multi-hop swaps”. In Layman’s terms, this allows for multiple assets to be converted to KUJI in one click, an extremely useful tool for compounding staking rewards into KUJI. You asked, we delivered. Wen? Soon.
Catching up with CALC
It’s been a solid week on the tools for the CALC team as code was submitted for audit quotes.
The team also caught up with Mark from DLoyal to discuss integrations and a session with Kado defined the missing tech pieces for the ideal CALC on/off ramp state. More to come on this in the near future!
Finally, the second tweet in the ➕ ✖️ Calculated Thinking ➗ ➖ series was rolled out: Read about FOMO here.
Want to get an update on CALC?
This Wednesday the team is jumping on a podcast with the GraviDAO team.
Useful Links
Winners of Trading Competition announced:
Without further ado, the winners of the KUJI trading competition has been revealed. To see if you have won, check this Google Doc.
New FIN trading pairs:
- AQUA — USK
- FURY — USK
KUJIRA VIDEO CONTENT
KujiKast x DLoyal: https://twitter.com/KujiKast/status/1580614313231798272
KujiKast also have a video coming out with FitLink soon, so make sure to follow the guys on Twitter to be notified when this is uploaded.
Closing Thoughts
Your boy has been BUSY with University this week, so my apologies if this week’s roundup is slightly shorter than normal. Your support for this series keeps me motivated to continue doing this despite having less time to do so. The Kujira Train doesn’t stop moving!
Written by Kuji Peruggi
