We have passed a major milestone: over 30% of the $KUJI supply has been merged to $RUJI! Users still have 11 days left before the decay starts to kick in on May 5th, and the conversion rate will linearly decline from 100% to 0% over a period of 11 months. May 5th is also the day that all the deposited Merged tokens begin earning Bonus Tokens, so make sure your tokens are deposited before then! If you need to Merge your tokens, you can find a complete guide (including videos) here: We also have updates regarding some of the issues our community experienced while Merging, which you can find down below.

Get ready for some MAJOR update next week alongside with our long-awaited rebrand ✨💪 You may not have heard a lot from us in the past month but we have been cooking 🧑‍🍳 Exciting times ahead on @RujiraNetwork !

Let's talk about @RujiraNetwork (and Kujira). Why am I so bullish? Why is our community so bullish? Only those who used Kujira products before will understand, so let me try to explain what happened for those who have no experience with Kujira. It all started with Kujira ORCA 🐳 It was about ±3.5 years ago on the Terra ecosystem. The $LUNA price went up and over $80 and Team Kujira held a public raise for a few million dollars to fund their developments. If I remember correctly, back then VC's got $KUJI for about 12 cents and public (retail) investors for 16 cents. Those tokens were unvesting over the timespan of about 6 months. We we're all hyped up and excited about any new product launching on Terra! Shortly after the $KUJI Initial DEX Offering (IDO or token launch), Kujira launched their first product: ORCA. ORCA was built in cooperation with the @anchor_protocol team and ORCA did something brilliant: it allowed every single individual to bid on liquidated collateral positions of dangerous Loan-To-Value positions of people who borrowed on Anchor Protocol. EXPLAINER Anchor Protocol allowed people to lend out their $bLUNA and $ETH and borrow $UST against it. When those asset prices go down, the value dropped and become insufficient to cover the value of borrowed $UST, resulting in liquidation of those Collateral Positions. With ORCA everyone could bid in PvP-style on liquidated $bLUNA en $ETH positions up to a 30% discount. If many people bid on 30% discounts, you could bid on 29%, or 28% and so on - usually finding an equilibrium around 6-10% discounts. Kujira ORCA was revolutionary. It opened a whole lot of new opportunities to make money when prices went down or 'to buy the dip'. Either you could hodl newly bought discounted assets or you could try to sell them straight away for a quick 5%, 10% or almost up to 30% profit. Kujira ORCA made liquidation markets accessible for the public. Everyone could place a bid and wait for liquidations to happen. It opened up a new opportunity that was usually only available for 'insiders' or 'smart devs', but Kujira made an UI and everyone could place their bids and have the same chance of winning according to proportional size. And boy, oh boy, liquidations did happen. It was May 2022. Terra imploded. $LUNA price collapsed. The dip kept dipping. ORCA working overtime. During that time, the ORCA must ate millions worth of collateral. ORCA showed what's it worth for, but... it couldn't live any longer on Terra. The ORCA, and it's little buddy "FIN" had to find a new home. More about Kujira FIN and it's first appearance in a next thread. Where are my Kujira OG's at?