Kujira $KUJI — Complete staking guide — Imperator.co

Kujira mainnet is now Live! 🎉

Kujira was a popular Dapp on Terra Classic and after the collapse, the team decided to launch its own sovereign chain on Cosmos.

We are very excited to announce that Imperator is Genesis validator on the Kujira chain! We trust the team in shipping new technologies and products that would be essential for Cosmos.

This article introduces Kujira, explains how to buy $KUJI and helps you stake your $KUJI with a validator.

📌 What is Kujira?

Kujira is a project that aims to open DeFi to everyone with a suite of different decentralized applications. Here is the list of different apps available on the chain:

1. ORCAORCA is the Dapp offering the possibility for anyone to bid on liquidations. The liquidation process on-chain is hard for non-technical users because it requires people to create liquidation bots. However, through ORCA, anyone can bid on liquidations.

All you have to do is:

👉Deciding how much you want to bid

👉Deciding at which premium you want to bid at

2. FINFIN is a decentralized, permissionless, 100% on-chain order book exchange. Users can place buy and sell orders, such as limit or market orders very easily.

The goal of FIN is to offer a user-experience similar to a CEX, but 100% decentralized.

3. BLUEBlue is simply the KUJI Dashboard, vote on governance, claim their rewards, swap and stake their tokens.

4. BELUNGABelunga is a solution to add multiple recipients to a single transaction.

🏦 How to buy $KUJI?

The Kujira team wrote an excellent article explaining how to buy $KUJI here: https://medium.com/team-kujira/guide-to-trading-on-fin-eef89d80a6a4#2a8a

The easiest solution is to buy $KUJI on OSMOSIS

Here is a step by step method:

Method 1: Go to OSMOSIS and buy $KUJI

On the “Assets” section, click on “Withdraw” next to the $KUJI token

Select the amount you want to withdraw to your KUJIRA address and click on “Withdraw”

Confirm the transaction

Wait and you’ll get the $KUJI on Kujira directly

Connect your wallet on FIN:

Method 2: Using Kujira bridge

If you want to buy $KUJI and have your money on a non-IBC chain, then you can use the Kujira bridge.

1. Get USDC on Avalanche, Polygon or Fantom

2. Swap USDC to axlUSDC using Curve (Avalanche pool: https://avax.curve.fi/factory/82 ; Polygon pool: https://polygon.curve.fi/factory/221 ; FTM pool: https://ftm.curve.fi/factory/85)

3. Once you have axlUSDC bridge them on Kujira using https://blue.kujira.app/bridge

You now have $KUJI tokens, well done!

💰 What is Staking?

Staking is the process of locking up a digital asset to provide economic security for a public blockchain. You have the superpower to contribute to the network’s security and it grants you the right to vote on proposals and make decisions on the future of the blockchain.

When the staking transaction is complete, rewards will start to be generated immediately. At any time, stakers can send a transaction to claim their accumulated rewards.

Staking rewards are generated and distributed to staked holders in two ways:

1. Through transaction fees collected by the network and distributed to stakers.

2. Through the inflation rate, the total supply is inflated to reward stakers.

⚠️ Holders that do not stake do not receive rewards, meaning their capital gets diluted over time.

Staking is not risk-free. If a validator has downtime or underperforms, a percentage of tokens delegated to them may be forfeited. To mitigate these risks, it is recommended that holders delegate to multiple validators.

Kujira is a bit different from other Cosmos blockchains as there is no inflation! The team has decided to offer only the revenues collected by the blockchain to stakers. This allows them to keep a low supply and increase the scarcity of $KUJI.