- The Kujira team has announced a new merger with fellow DeFi ecosystems called the Rujira alliance.
- The alliance also plans to merge the respective ecosystems’ tokens into one $RUJI token.
DeFi projects have become quite huge in number in the past few months. Partnerships between different web3 ecosystems are a cornerstone of DeFi advancements. Recently, the DeFi project Kujira has announced a partnership with three other ecosystems to build the layer 2 THORChain app.
Notably, the ThorChain is utilized by Kujira as a Layer 2 shifting from its initial L1 due to several issues. The recent alliance aims to build a THORChain app according to the Wink Hub’s official announcement. Additionally, the partnership includes Wink, Unstake, and Fuzion, the other DeFi ecosystem projects of Kujira in the Rujira alliance.
Furthermore, the Rujira alliance also aims to launch a new token called the RUJI that will be issued on the THORChain. Kujira team’s detailed article also stated the partnership will include web3 protocol Levana in the coming months. It stated that the alliance will attempt to combine the tokens of the aforementioned projects – $KUJI, $FUZN, $WINK, and $NSTK into the $RUJI token.
Moreover, the Kujira partnership with THORChain occurred on August 9, after the project faced issues in its L1 blockchain. Separately, the Kujira team discussed how the Rujira partnership would aid them in addressing liquidity issues that they faced previously. They also highlighted other benefits that they expect from the partnership.
How will the Rujira Alliance Operate?
The official announcement states the Rujira project shares for each ecosystem and the RUJI tokenomics in detail. It states that for the Project allocation, KUJI will receive 45.57% of RUJI supply. Meanwhile, FUZN, NSTK, and WINK will receive 1.56%, 1.44%, and 1.43% respectively.
On the other hand, the team has allocated the remaining 50% of RUJI for acquisitions, ecosystem funds, operations, and new investors. Meanwhile, the Kujira ecosystem will receive 91.1% weight of the market cap.
Finally, in the last few days, other DeFi projects also announced advancements. Relatedly, BounceBit announced the launch of its CeDeFi V2 in September.
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