The newly announced L1 Cosmos based Kujira blockchain is the next evolutionary step of the ORCA liquidation platform - previously a part of the Terra ecosystem. đ How are the founder dealing with the Terra collapse, what are the solutions, guiding them towards the new project and is their âEveryone Deserves To Be A Whaleâ slogan actually valid - letâs see.
For those, who havenât heard about Kujiraâs ancestor:
What is ORCA?
ORCA is a platform, specialised on Anchor protocol liquidations. During its prime, OCRA was holding over 3B$ of deposited assets. After the Terra collapse, the team moved the project to their own custom Kujira blockchain, which is still partially based on the Terra Classic net though.
ORCA made it possible for users to bid on the Anchor protocol asset liquidation using UST and aUST.
Advantages of Kujira
The first and most important is block speed, being 2.2 seconds. No Cosmos based blockchain except Evmos with their 1.9 seconds can beat Kujira in terms of transaction speed. đ Another key feature is the highly respected for their previous useful products and convenient UXs team (who, however, work anonymously) as well as a plenty of trustful partners such as Do Kwon, GT Capital, Qi Capital and Star Terra.
Kujiraâs transactions are executed using the highly trusted Tendermint and follow the FIFO (First In First Out) model. Transactions can only be changed by validators changing the transaction order. âĄïž
What services will Kujira provide?
A blockchain canât survive without having any initial dApps, based on it. Kujira is no exception.
ORCA
The already mentioned liquidation control app was disabled after the Terra collapse, but is said to come back soon. đ
Users will bid at their preferred premium, which is the discount a bidder receives for redeeming credits on Anchor. Premiums range from 0% to 30%, and loans are liquidated from the lowest premium to the highest. This happens until either there is no collateral left to liquidate or there are no more bids.
FIN
FIN is a 100% decentralised exchange with a stock glass. đ„ Unlike AMMs that utilise stimulated liquidity pools for trading liquidity, FIN compares the buyer and seller orders, influencing liquidity with arbitration bots, AMMs and sellers themselves.
BLUE
BLUE is the systemâs core, providing the ecosystem with a dashboard, a wallet and a simple IBC-swap bridge as well
as a control portal.
BLUE dApp based Kujira wallet allows the users to send tokens to multiple addresses, killing the need of creating a separate smart-contract for token distribution.
The interface is similar to any other AMM DEX, but is simplified - BLUE is basically a more rookie friendly option of FIN đŠ
What about the tokenomics?
$KUJI is a native token that doesnât differ from other native tokens too much. It is mostly used for governance and fees. đ
The amount was cut and instead of a 150M, only 122M are now available for the netâs use. And those 122M arenât actually 122M, but 108M, because 14M are still being transferred from the Terra Classic net.
Conclusion
$KUJI has lost a lot in terms of price after the Terra collapse and is now trading on a 91% lower mark than its historical maximum. However, the transaction number is constantly rising with over 6M executed during the last two weeks of July. đ
It is obvious that all the projects Terra Luna influenced are coming back to normal and we shall be looking forward to even more in the future.
Stay tuned đ»