- Kujira merged with Fusion, Unstake, and Wink to form the “Rujira Alliance” for a new THORChain-based DeFi application layer.
- The Rujira Alliance will offer services like order books, perpetual futures, NFTs, lending, and money markets across eight integrated chains.
- THORChain eliminates maximum extractable value (MEV) by splitting income between consensus and liquidity, improving user experience.
Kujira, a well-known decentralized finance (DeFi) network has announced a significant merger with several of its major ecosystem partners, creating the “Rujira Alliance.” The purpose of this recently established entity is to create a new application layer for the cross-chain liquidity protocol of THORChain. By joining Kujira with Fusion, Unstake, and Wink, the partnership advances the decentralized finance space significantly.
DeFi Entity Aims to Rival Major Players
John-Paul JThorbjornsen, the founder of THORChain, disclosed in a recent X post that the new application layer will be a significant DeFi initiative rather than a side project. He predicted that in the future, well-known blockchain networks like Solana might face competition from Rujira.
Notably, a variety of DeFi products, such as order books, perpetual futures, a token launchpad, non-fungible tokens (NFTs), lending platforms, and money markets, will be available through the new app layer. Eight blockchain networks have already integrated with the system, demonstrating its broad compatibility.
Furthermore, a joint treasury will be another feature of the Rujira Alliance that will enable resource pooling amongst the member entities. During the project’s early phases, Thorbjornsen will oversee it, allowing the Kujira team to concentrate on developing the new application layer. Rujira is now well-positioned to have a big impact on the DeFi scene going forward thanks to this integration.
THORChain’s Innovative Approach to MEV Challenges
Notably, a prominent feature of this merger is THORChain’s strategy for resolving the maximum extractable value (MEV) problem. As noted by Thorbjornsen, THORChain divides revenue between consensus and liquidity, which essentially removes MEV from its network. It is anticipated that by strengthening security and lowering transaction manipulation, this update will provide users with a better experience.
Furthermore, the Kujira native token, KUJI, which experienced serious liquidity problems in August, is unaffected by the merger. To power the new app layer, the new entity will introduce a token named RUJI.
Additionally, it is optional for KUJI holders to switch to the new RUJI token; they are free to do so. Notwithstanding recent difficulties, such as KUJI’s value falling 91% from its peak, the new alliance has room to grow in the future.
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