Kujira Partners with THORChain for DeFi Boost
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This collaboration will see THORChain become the backbone of Kujira’s DeFi suite, providing deep liquidity.
Kujira and THORChain Unite to Enhance DeFi Capabilities and Liquidity
This partnership is expected to accelerate Kujira’s growth and solidify its position in the DeFi sector. A key component of this partnership is an underwritten token raise designed to clear existing debt. It also aims to align the economic interests of both the Kujira and THORChain communities.
This token raise is unique in that it is open to the community, ensuring broad participation and support. Importantly, this initiative is accompanied by operational changes aimed at preventing similar financial challenges in the future. These changes will strengthen the overall resilience of the Kujira platform.
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JPTHOR, the founder of THORChain, has committed to backstop the token raise with $3 million. This set a minimum threshold for the funds raised via the PILOT platform. This commitment ensures that depositors in affected vaults can withdraw their funds after the conclusion of the sale.
It offers a significant layer of security and confidence to all participants. This move signals the partnership’s potential and the commitment of both parties to its success.
More About Kujira & THORChain
The upcoming token sale is expected to be a pivotal moment for Kujira. It will go live shortly after a community vote ratifies the outlined details. The sale will run for three days and will feature two concurrent auctions—one aimed at repaying the $USDC debt, and the other at repaying the $USK debt.
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Participants will have the flexibility to bid with both $USDC and $USK, as well as their respective wrapped tokens, $xUSDC and $xUSK. This inclusive approach allows current depositors to participate fully, ensuring that the entire community has a stake in the future of Kujira.
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