Kujira (KUJI)
Kujira is a decentralized ecosystem established by Slangdog, Dead Right Dove, and Codehans. Since its launch on November 20, 2021, the Kujira network has focused on developing decentralized applications (dApps) for protocols, developers, and crypto users, aiming to create a secure and efficient environment within decentralized finance (DeFi).
Overview
Kujira functions as a Layer 1 blockchain, providing a comprehensive suite of DeFi infrastructure and sustainable FinTech solutions for Web3 users. Built on the Cosmos network, it uses Cosmos’ modular SDKs as its foundational architecture and includes several natively built dApps. The ecosystem allows developers to build on its blockchain, validators to enhance its security and decentralization, and community members to engage in governance. Key dApps include BLUE, the central hub; BOW, the liquidity engine; FIN, the decentralized exchange; GHOST, the money market; ORCA, for DeFi liquidations; POD, for cross-chain staking; SONAR, the multi-chain wallet; and USK, the stablecoin. The KUJI token is used for fee payments, staking, and governance participation.
| Ticker | KUJI |
| Category | Smart Contract Platform |
| Website | https://kujira.app/ |
| @TeamKujira | |
| Contract Addresses | |
|---|---|
| osmosis | ib...CE Copied! |
| optimistic-ethereum | 0x3a...caCopied! |
| binance-smart-chain | 0x07...ccCopied! |
| arbitrum-one | 0x3a...caCopied! |
| ethereum | 0x96...e7Copied! |
| secret | se...u8Copied! |
History
Kujira began operations within the Terra ecosystem on November 20, 2021. In May 2022, it transitioned to the Cosmos ecosystem, leading to the establishment of a dedicated Layer 1 network and a sustainable DeFi ecosystem. Users are offered yield-generating opportunities without a highly inflationary native token. By July 2022, Kujira was fully integrated into the Cosmos ecosystem, utilizing the Tendermint BFT for consensus, the Inter-Blockchain Communication (IBC) protocol for cross-chain interoperability, and the Cosmos SDK for modules. Its stablecoin, USK, was launched in August 2022.
Features of Kujira
Kujira offers a variety of features:
- Revenue-generating products: The ecosystem includes ORCA, FIN, BLUE, FINDER, USK, and more, focusing on generating revenue and enhancing the network's value.
- Staking and cross-chain functionality: Kujira encourages user participation through its staking network and seamless cross-chain interactions via Cosmos' IBC.
- Community governance: The ecosystem is community-driven, with voting to ensure quality control and sustainability.
- Efficiency and native token generation: An on-chain scheduler and native Cosmos token generation enhance network efficiency.
- Robust oracle and randomness: Kujira's price Oracle and entropy beacon ensure consistent and dependable price information and secure on-chain randomness.
The Kujira ecosystem
The Kujira ecosystem includes numerous dApps and infrastructure developments, allowing users to engage in various functions like bidding on liquidations, token swapping, governance participation, and liquidity provision.
ORCA
ORCA is Kujira’s first product, serving as a marketplace for liquidated collateral auctions. It enables users to purchase assets at up to a 30% discount through a Dutch auction format. This system prioritizes bids from the smallest to largest discount, deterring bot-driven sales and supporting the ecosystem's long-term stability. ORCA's lending markets include USK-backed collateral, isolated FIN margin, and GHOST (perpetual) liquidation markets.
USK
USK is Kujira’s decentralized stablecoin, maintaining a soft peg to the US dollar and secured by various cryptocurrencies like ATOM, wBTC, wETH, and others. It can be minted on BLUE or purchased via FIN. As an over-collateralized stablecoin, USK ensures stability and mitigates liquidation risks. Within the Kujira ecosystem, USK integrates seamlessly with platforms like BLUE, FIN, BOW, and ORCA.
FIN
FIN is a decentralized platform on Kujira, operating as an order book trading system similar to centralized exchanges. Unlike automated market makers (AMMs), FIN's order book model provides enhanced trade execution without relying on inflationary incentives.
GHOST
GHOST functions as Kujira's money market, using users' assets for lending, interest accumulation, and maintaining operational liquidity through collateralization. Powered by ORCA, it offers leverage for lending or borrowing assets, community-driven asset inclusion, and an efficient liquidation engine.
BLUE
BLUE is the central hub within the Kujira ecosystem, enabling network participants to engage in staking, minting, bonding, swapping, cross-chain transfers, and governance activities. It provides essential analytics for the Kujira blockchain, such as KUJI price, total liquid supply, and staking information.
Developers and Validators
Developers
Developers can build Rust-based smart contracts that interact with the Kujira blockchain, supported by CosmWASM v1.0 and IBC v3. The token factory allows developers to establish native denoms, recognized by the Cosmos SDK Bank Module, enabling them to issue tokens without adhering to the CW20 standard.
Validators
Validators on the Kujira chain set specific commission rates for maintaining the validator and supporting the network. A lower commission rate offers more staking rewards to delegators, while a higher commission benefits the validator. It's important to consider the validator's technical proficiency and contributions to the network when choosing one.