Maya Protocol’s Kujira Integration
Introduction
To celebrate Kujira as Maya Protocol’s fifth chain integration (https://x.com/Maya_Protocol/status/1712256294806041042), we’d like to provide our community with some information about Kujira, its blockchain, and its ecosystem.
Kujira actually started as a project and token on the original Terra chain (now Terra Classic) in 2021. With Terra’s collapse in mid-2022, the Kujira team was one of the first projects to restart, this time as their sovereign blockchain, based on Cosmos SDK. They are now a complete DeFi ecosystem with an order book dex (Fin), liquidity pool style money market (Bow), an over-collaterized native stablecoin (USK), a public marketplace for liquidations (Orca), borrowing & lending market (Ghost), launchpad (Pilot), and many others.
One of the core philosophies in Kujira (which is perfectly aligned with Maya) is “real yield”, where all yield in the ecosystem is derived from actual usage, without relying on block rewards or emissions.
At the time of writing, Kujira is reported to have $30m in Total Value Locked (https://defillama.com/chain/Kujira), with the native token KUJI having a Fully Diluted Value of $95m, and $2.2m supply of their native stablecoin, USK (https://blue.kujira.network).
Maya Integration with Kujira
Maya’s integration with Kujira means the creation of native KUJI and USK Liquidity Pools (LPs) on Maya, both paired with CACAO. This enables decentralized swapping directly from KUJI or USK to/from any other assets on Maya. Users can deposit KUJI, USK and/or CACAO into the respective LPs, to earn a share of the swap fees. Additionally, the upcoming launch of Savers will enable Savers Vaults for KUJI and USK, providing native-on-native yield without exposure to CACAO, and without the risk of impermanent loss. Finally, the unique liquidity nodes in Maya enable LPs and Savers users to bond the LP/Savers position into Maya nodes to help provide economic security to Maya Protocol.
Upcoming Dex aggregation will further enhance the swapping experience with one-click swap from assets on Maya to any long-tail assets on Kujira. The first Dex aggregation smart contract will be deployed by El Dorado, the first Maya-focused front-end.
Finally, with the connectedness of Kujira with other Cosmos SDK ecosystem chains via the Inter-blockchain Communication Protocol (IBC), this integration opens swap routes from Maya to these other ecosystem chains via Kujira.
Feel free to hop into the TC University Discord to chat about this, or any other Maya Protocol questions that you may have.
Explore Maya Protocol, the first friendly fork of THORChain: Website, X, Discord, Telegram.
Decentralized, permissionless, non-custodial, trust-minimized, open-sourced, economic-secured, non-wrapped, native-to-native cross-chain swaps and soon, savings!
