Weekly Roundup by Team Kujira: Ep.8

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GM Kujirans! I am currently sat in a Pret coffee shop listening to the torrential rain beat against the glass windows, so forgive me if this article is “down-beat”. Call it pathetic fallacy if you will… In this week’s episode, I have a shedload of USK information to show you, some NFT updates, and a few quality-of-life improvements on FIN. As always, these articles aim to summarise all Kujira-related news released in the last 7 days, keeping you up-to-date and informed.

Table of Contents

USK

USK on Osmosis

As the leading DEX on Cosmos by volume, getting liquidity for USK on Osmosis is an extremely beneficial step in pushing for wider USK adoption. To achieve this, the Kujira team has worked with Sunny to develop two new trading pairs:

  • USK <-> OSMO
  • USK, DAI and USDC 3 token pool

The OSMO <-> USDC pool currently transacts over $2,000,000 in volume every day during a bear market, an impressive feat. With the addition of a USK trading pair, Cosmos participants can now purchase OSMO using a fully decentralized stablecoin alternative, driving USK adoption on the Osmosis exchange.

More importantly, the 3 token pool consisting of USK, DAI and USDC is a major step in solidifying USK’s place as a dominant stablecoin within Cosmos. Concentrating liquidity provides traders and protocols alike with a “one-stop shop” to sourcing stablecoins rather than transacting on 3 different pairs (USK <-> DAI, USK <-> USDC, USDC <-> DAI). It also allows for deeper liquidity than a conventional 2-token trading pair, helping to maintain USK’s robustness and allow for larger orders.

USK Minting Fee Lowered to 0.1%

The supply of USK has been deliberately suppressed so that organic demand can be created before pushing for wider adoption. Behind the scenes, the team has been hard at work providing use-cases and integrations that provide this demand, so the time has come to make it easier to mint USK. With a lower minting fee, there is a larger incentive to take out USK loans, but also creates more appealing arbitrage opportunities by widening the margin for profit.

Now that USK is cheaper to mint, wouldn’t it be nice to have more collateral options?

DOT as Collateral for USK

Speak of the devil and he shall appear — DOT is now available as collateral for USK! To on-ramp DOT to Kujira, you have a choice of either:

  • Using IBC to transfer from Osmosis
  • Using satellite bridge to bridge DOT from Moonbeam to Kujira (requiring $GLMR for fees)

Admittedly, bridging is not always the easiest for newer market participants, so the team are busy speaking with Axelar to make this process much easier — more on this in the future.

Toggle Between USK and axlUSDC Trading Pairs on FIN

Now that FIN facilitates the trading of over 20 cryptocurrencies, it became obvious that FIN needed a way to organize these pairs. In a recent QOL update, you can now toggle between USK and axlUSDC trading pairs on FIN, assisting in finding your desired trading pair quicker.

NFTs

KUJIRANS

After passing the first round of voting, KUJIRANS needs your vote to feature on Stargaze launchpad on the 11th of November. To vote, you need to:

  • Join the Stargaze discord
  • Have 5k STARS staked
  • Join the community vote channel via starry bot by entering /starry join command on the channel
  • Vote for KUJIRANS!

Kuji Kings

In a recent Medium post from AQUA, the team outlined their plans to launch an NFT collection for the Kujira community. The mint will occur on Stargaze on October 27th, with the mint proceeds distributed as follows:

  • 15% to Kujira community fund
  • 15% to Juno community fund
  • 70% towards drilling more water wells

I look forward to seeing the outcome of this mint as the NFT explosion on Kujira continues.

The boys continue their hard work with a video featuring Fitlink, a new dApp launching on Kujira in the near future. I won’t spoil the video, so please show some support to the KujiKast lads and give it a watch.

Fitlink have also started their own “Weekly sprint” (where have I seen this before…) which summarises their achievements for the week. Make sure to follow them on Twitter and read these articles for more information.

Kujira Name Service in Testnet

Founded by Kujira community member mintthemoon, the Kujira Name Service will allow users to create custom wallet addresses such as KP.kuji. This allows Kujira users to send and receive cryptocurrencies by sending to this custom address rather than a long series of random letters and numbers. I think you’ll agree this is much easier to remember…

Collect Staking Rewards as KUJI

Recall that last week a governance proposal passed that allowed for multiple assets to be swapped at once. Since then, the boys have created a neat button that allows you to convert chosen assets in your wallet to KUJI in one click. Simply claim your staking rewards, head over to your wallet in BLUE and click “Convert balances to KUJI”. This is useful if you intend to compound your staking rewards into staking more KUJI, or you’re simply just lazy. Pick your poison.

CALC Upadates

Yet another massive week from CALC:

  • CALC protocol leaks UI
  • The Community Telegram channel full of alpha went live
  • Private testnet is in full swing and the vaults are triggering as expected
  • The CALC Strategy DAO picked up its newest member
  • The third tweet in the ➕ ✖️ Calculated Thinking ➗ ➖ series was rolled out. Read about herd mentality here.

The team at CALC continues to work hard and deliver on their promises, a real gem to look out for on Kujira.

Black Whale Announces Sperm Whale

Yep, it’s really called Sperm Whale. You’ll have a heart attack when you realize what the token is called… Nonetheless, the Black Whale team continue to provide financial strategies on Kujira, this time with a strategy that allows you to passively profit from ORCA’s liquidations. You can read their whitepaper on the new landing page to find out more about this product.

New FIN Listings

Closing Thoughts

And just like that, this week’s roundup is complete! I know I say this every week, but your support really does motivate me to continue doing this despite Uni taking up all my time recently. Thanks again for all the comments and suggestions, you guys rock. On that note, probably about time I start this week’s lectures…

Make sure to follow TeamKujira on Twitter to see these announcements live, or simply follow me on Medium to get an E-Mail alert when the roundups go live.

Written by Kuji Peruggi

Kuji Peruggi

Kujira Academy cofounder. Plucky Penguins founder.

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