KUJIRA — Where everyone deserves to be a whale!!
ORCA, Kujira’s first dApp enables you to scoop up the collateral of your overleveraged Lunatic friends at a discount, when the market turns against them. Interestingly enough you are actually doing them a favour by doing so.
It’s safe to say lending against your crypto collateral is one of the most popular things to do in Decentralised Finance. You could almost go as far as calling it one of the cornerstones. If we look at Anchor Protocol, the total borrow amount has gone up to 1,181,352,032 UST in less than a year.
Now that the new liquidation contract on Anchor has passed the governance process, it’s time to talk about Kujira. What this new team building on Terra aims to do is to level the playing field in DeFi, by building apps that give a great user experience. The goal is to open up opportunities that were once reserved for whales only, starting with liquidations on ORCA.
We can understand that the idea of liquidating your fellow DeFi user might give a bad taste in your mouth, but let’s not throw the baby out with the bathwater. Rather than just whales and bots being able to get Read More