Cosmos Ecological New Public Chain Kujira: Redefining Multi-chain Decentralized Trading Platform
Original title: "First Impressions: Kujira Blue and FIN"
Original author: Opa
Original compilation: TechFlow intern
Recently, Kujira launched Layer1 in the Cosmos ecosystem and rushed out of the gate with their first dApp: Blue. Subsequently, the Kujira team launched FIN, a multi-chain order book trading platform.
Here, I will give you my first impressions of these dApps and discuss why they are so important to the ecosystem.
Bridging Multi-Chain Assets
Kujira team has built an efficient dApp to benefit from the entire Assets are hosted on Cosmos' 17 blockchains. When you click on IBC/Bridge from Blue's main menu, you can easily import your native IBC assets from other chains. Also fully integrated with the Keplr wallet, when you select a chain you have not interacted with before, a connection request approval window will automatically pop up.
For example, when you choose to transfer SCRT from Secret Network to Kujira, it will display the amount of your flowing Token on the chain, you choose the amount, IBC transfer initiated, SCRT approved in Keplr Token Pay small transaction fees and bring them over. You can then see these in your Keplr Kujira wallet or when you click on the wallet menu option on the blue menu Token.
Kujira is developing in Cosmos and taking native IBC assets from across the ecosystem to use in its dApps; more than that, the team has set their sights on Interchain assets outside of Cosmos. Another option available to access this network is to use the Axelar bridge to bridge digital assets from five other ecosystems (Ethereum, Avalanche, Polygon, Fantom, Moonbeam) including -axl, synthetic assets and native Token.
This works really well too, I've tested the bridge with Ethereum's USDC. But be aware that Axelar charges a lot more for repeaters than IBC (equivalent to $20+) and is not as fast.
Focus on revenue
The Kujira team In other words, staking on Blue is a different kind of experience, maybe the current APY is not very high, but it may reach +100% in the future. The reason: KUJI's staking rewards are not based on inflation, but on income. When dApps earn revenue, KUJI stakers receive a portion of those revenues, and it’s not just KUJI Token! As an investor in KUJI, you will receive all top-tier Token award. Seven of them have already been activated, and the list will grow as more assets are added.
The Kujira network is secured by a stellar team of 75 validators, including community-focused teams such as:
Smart Stake
Danku_Zone with DAIC
Oni
Oni
p>
PFC
Crypto Crew
Imperator
Finally, Blue also includes governance voting , interchange, the ability to migrate KUJI from Terra, and a dashboard.
Following the successful launch of bridging and staking dApps, Kujira quickly launched FIN -- Decentralized order book trading platform. Apex assets are growing at a breakneck pace and I've been actively testing limit orders and market trading features. The initial results were great, with orders fulfilling as planned, the user interface easy to use, and order tracking impressive.
Each newly added asset has to go through the liquidity bootstrap stage, and only limit orders can be set at this time. After this initial phase is over, market orders are opened. The trading platform provides trading charts and views of buy orders, sell orders and recent trades. At the time of writing this article, the following Token In full trading mode: KUJI, USDC, wETH, ATOM, JUNO, OSMO, and EVMOS. SCRT is in the stage of liquidity guidance.
Transaction fees (0.075% for market makers and 0.15% for undertakers) are paid to KUJI market makers. There is also a network fee, which is very low (only pennies). By default, fees are paid in KUJI; however, you can change this and set fees to be paid in USDC.
Your limit orders are visible in the Open Orders tab. Once your limit orders execute, you can see them in the Completed tab. From a tracking and logging standpoint, I really like this feature. Finally, Kujira also has its own blockchain explorer (Finder), where you can see all your liquid assets and collateral assets, as well as all transactions, just enter your wallet address.
Impact on Ecosystem
dApps on the Kujira blockchain work together seamlessly and are powerful. By choosing to integrate assets from Cosmos from the beginning, Kujira positions itself as a multi-chain decentralized exchange for the entire ecosystem. They are bringing together protocols, dApps and blockchains to add value to Cosmos. As the weeks progress, I expect Kujira to bring more top assets to FIN. The team is also demonstrating that yield can be generated differently. As investors in KUJI, we earn a fraction of all these top assets.
Just getting started
Blue and FIN have laid the groundwork for Kujira,and are introducing one of the most critical protocols: Orca. When the lending marketplace was launched in Cosmos, Kujira was able to attract a fervent user community.
In the near future, thanks to Blue's IBC functionality, those assets that successfully execute liquidations will flow effortlessly through the ecosystem. Newly acquired assets from auctions on Orca can be quickly swapped for stablecoins or other Cosmos assets through FIN’s spot and limit order features. The blockchain will charge fees every step of the way, creating a flywheel for profitability, as Kujira was built from the ground up as a revenue-generating business. Most importantly, the fees collected from dApps on the blockchain directly benefit KUJI stakers!
By using the order book trading platform, there is no need to accumulate a large amount of liquidity, and there is no need to worry about maintaining an AMM. Kujira also introduces a new value model for the stakeholders of the chain, which is based on revenue generation rather than inflation. Additionally, they will be able to bring communities stuck on the Terra chain onto the Kujira chain.
First impressions tend to last! When I first discovered Kujira and wrote about the innovations being developed, I was instantly smitten. Now, eight months later, the Kujira team has evolved and rebooted in Cosmos, a true engineering feat. They are fulfilling their original mission, bringing their original supporters with them, and forging a new, stronger community. Note my words, Kujira is just getting started!
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