The Tie Research
Growing Up with Kujira
By Gustavo Lobo
April 28, 2023
- Kujira was initially launched as ORCA, a Terra-native liquidation platform focusing on liquidations on Anchor Protocol, and was rebuilt as a semi-permissioned Cosmos SDK blockchain in July 2022, six weeks after Terra’s collapse.
- Kujira leverages the Cosmos SDK modular architecture, along with a suite of synergetic protocols, as the foundation for creating sustainable, long-lasting financial systems. Existing governance-approved protocols include a native overcollateralized stablecoin, a P2P platform, liquidation queues, and a decentralized order book exchange, with a launchpad and a native wallet currently pending.
- While performance metrics are low relative to other blockchains, momentum is visible, as Kujira’s monthly growth trajectory continues to trend upwards despite adverse market conditions.
- A monolithic design(wrapping transaction execution, network consensus, proof settlement, and data availability on one mainchain), or
- A modular design that aims to outsource some of these functions to a separate layer.
- KUJI is used to pay for gas fees required to execute and store operations on the Kujira network(similar to other native blockchain tokens).
- A percentage of all revenue streams (e.g., gas fees, dApp fees, liquidation fees) are used to reward participants in the proof-of-stake mechanism, and to prevent spam and denial-of-service attacks.
- KUJI will also be used for governance for on-chain voting on critical matters, such as protocol upgrades and dApp proposals.
- KUJI can be used as a liquid asset for various smart contract and monetary policy applications.
- ORCA for democratized liquidation queues
- FIN as their clob dex
- Local for P2P transactions
- CALC for DCA strategies into USK
- 0.5% mint fee
- 5% borrow APR
- 1% liquidation fee
- 0.5% ORCA withdrawal fee
- 60% max $ATOM LTV (i.e., 67% overcollateralized)
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