The DeFi sector is going through a big change with Kujira and its main ecosystem projects joining the Rujira Alliance. This project promises to establish an innovative application layer for the THORChain liquidity protocol.
The Formation of the Rujira Alliance
The new entity dubbed the Rujira Alliance is a minor project and a potential behemoth in the DeFi space set to compete with giants like Solana. It was announced on September 09 by THORChain founder John-Paul Thorbjornsen also known as JP.THOR.
This alliance consolidates efforts and resources to build a robust DeFi application layer. JP.THOR emphasized that Rujira would enable THORChain to introduce a safe, well-managed and effectively executed DeFi application layer. This will position it to become a leading DeFi chain.
This reportedly echoes the recent efforts in the DeFi ecosystem. For example, the recently reported Terra Luna Classic community’s approval of IBC proposals. These proposals aimed to restore interoperability and boost liquidity.
Unified Under RUJI Token
The alliance will feature a combined treasury and a new token — RUJI. It is intended to streamline operations and enhance efficiency across the board. Existing tokens such as KUJI, FUZN, WINK and NSTK will merge under RUJI with optional participation in this unification.
The merge will not affect the Kujira (KUJI) token’s functionality or the project’s native blockchain network. This is to ensure current stakeholders that traditional operations will remain intact.
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Rujira is designed to cover all major DeFi areas, such as order books, perpetual, token launchpads, NFTs, lending and money markets. It’s already integrated across eight chains.
Rujira solves the problem of maximum extractable value by sharing income between consensus and liquidity. It basically makes the user experience better with no MEV on THORChain. This shift aligns with Vitalik Buterin’s vision for a sustainable and decentralized future in DeFi.
