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Traveling through the ruins of Terra, Kujira, who has been quietly rising rapidly, is the new dark horse of the universe?

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It’s hard to gnaw on old roots, and it’s hard to make new meals. Kujira can be said to have traveled through the ruins of Terra and carved his own niche in the universe.

Source: Foresight News

Author: Frank

Recently, the Cosmos ecosystem seems to be gradually emerging from a period of retrograde, with star projects such as RUNE, INJ, and TIA performing well in the secondary market, attracting a lot of attention. At the same time, another little-known Cosmos ecological project is also "impressive" and quietly emerging.

DeFillama data shows that the TVL of the Kujira ecosystem has grown more than five times since September, soaring from around $16 million to around $88 million in just over two months, a staggering speed. Meanwhile, its token KUJI has also risen by nearly 400% in three months, showing the potential of a dark horse.

Actually, if you delve into the "past and present" of Kujira, you will find that in just a year and a half, it has crossed the ruins of Terra and grown into a dark horse newcomer in the Cosmos ecosystem, which can be called a "rebirth model" in the world of encryption.

From Anchor Clearing Agreement to Layer1 Financial Public Chain

We need to briefly review the development process of Kujira. May 11, 2022 was a crucial turning point that it could not bypass.

Before the collapse of Terra in May 2022, Kujira's positioning was a liquidation protocol on Terra, essentially providing limit orders below the liquidation price for Anchor lending:

Any user who wants to buy LUNA can bid on any form of collateral during the liquidation period through Kujira, in order to buy discounted LUNA. This can not only allow users to obtain discounted LUNA, but also improve the efficiency of liquidation and avoid extreme situations of chain reaction decline.

However, the sudden collapse of Terra has changed Kujira's original development plan, forcing it to pivot on May 11, 2022 and plan to build a Layer1 chain using the Cosmos ecosystem and Cosmos SDK to quickly restart and operate.

The chain was also launched on July 4, 2022. At that time, the team took a snapshot distribution of addresses that still held KUJI on Terra. After moving to the Cosmos universe, according to official descriptions, Kujira is positioned as a "blockchain that achieves real profits".

To provide a decentralized ecosystem for protocols, developers, and Web3 users seeking sustainable financial technology.

Kujira's Ecological Matrix

According to official statistics, as of November 14th, Kujira's ecological matrix currently includes 22 protocols/products, covering collateral liquidation, DEX (margin trading, limit orders, etc.), liquidity farming, lending markets, Launchpad, wallets, automated trading strategies, OTC trading, P2P trading, NFT trading markets, LST, on-chain ETFs and other multiple tracks (only the main protocol products will be introduced below).

However, the core of Kujira still revolves around "trading & returns" as an L1 financial public chain. In addition to key protocols such as Blue, FIN, and Orca introduced by the project team, other protocols/products within the ecosystem can utilize Kujira's multi-chain decentralized trading liquidity as infrastructure to launch their own services and achieve composability.

Actually, if you compare it, you will find that this product architecture and ecological development concept have many similarities with Injective and even the former Terra ecosystem, which are also based on Cosmos development. This also indirectly confirms Cosmos' consistent advantage in the development of application chain ecology.

Source: Crypto, Distilled

Blue

Blue is one of the core infrastructure of Kujira's ecosystem, which can be used for managing tokens, staking, voting, and exchanging. At the same time, Blue's IBC function is also a key bridge for asset flow across the Cosmos ecosystem.

KUJI holders can stake their tokens in Blue, receive rewards, delegate to validators, vote on governance, and transfer tokens across IBC chains.

Additionally, Blue can also be used to collateralize the USK stablecoin in the Kujira ecosystem (see below for details).

Orca

Orca is in line with Kujiira's philosophy before May 2022, and is a public auction market for clearing collateral, allowing anyone to bid on collateral awaiting liquidation.

FIN

FIN is a decentralized exchange in the Kujira ecosystem, providing order book, swap, and margin trading.

BOW

BOW is an automated market maker that allows users to profit by providing liquidity, while FIN can obtain deeper liquidity.

其中流动性提供者从交易中赚取部分费用，并且可以在质押其 LP 代币时获得第三方提供的额外奖励。

Translation:

Liquidity providers earn a portion of the fees from trades and can receive additional rewards from third-party providers when staking their LP tokens.

GHOST

GHOST is a fully-featured currency market where users can use various financial tools for borrowing and lending. Users can earn competitive interest rates and support obtaining short-term borrowing funds.

SONAR

SONAR is a mobile wallet application for the Kujira ecosystem, which allows users to make payments, transactions, staking, and voting directly from their mobile phones.

PILOT

PILOT is a Launchpad platform built in collaboration by Kujira and Fuzion. It uses a sales method based on the Orca bidding process to enable equal participation for everyone and provide a fair opportunity for all users.

From this perspective, Blue, Orca, and FIN are indeed the infrastructure of the Kujira ecosystem, enabling cross-chain flow of (clearing) asset trading and liquidity around the entire ecosystem's underlying layer.

Blue provides cross-chain and token management services for users, allowing them to exchange assets obtained through bidding on Orca for stablecoins or other Cosmos assets through trading functions such as FIN limit order book, achieving a closed loop of liquidity between Kujira and the Cosmos universe.

While BOW, GHOST, and others provide better liquidity or trading combination functions for the process, they form a complete and closed liquidity processing chain in combination, and connect the entire Cosmos universe and IBC assets through IBC, consolidating all product/protocol revenue streams into Kujira.

What positive factors are worth paying attention to?

In this part, we will follow the clues. Since KUJI has performed so well, are there any positive factors worth paying attention to recently in Kujira?