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Team Kujira ($KUJI), a prominent builder in the Cosmos ecosystem, is facing significant financial challenges with a total bad debt of approximately $2 million. Discussions are underway about potential bailouts and strategies to align the community and save the project. One proposal suggests that after a bailout, Kujira should build a cutting-edge perpetual decentralized exchange (DEX) on top of $RUNE, leveraging its liquidity. However, it appears that there will be no bailout, and instead, lenders of $USDC and $USK, whose collateral is locked in Ghost against the Kujira bad debt, will be given the opportunity to swap their stablecoin positions for $KUJI. There is also talk of potential legal actions against Kujira's developers for their role in the financial issues.
I don't like to give a roadmap to attacking dev teams, but I'll just say as someone who mostly reps devs--if you're a lender & want to sue the Kujira devs for this debacle, they probably have a LOT of money from dumping $KUJI & there are strong claims. maybe contact @dcsilver
So it seems like there will be no bail out for @TeamKujira. Instead, lenders of $USDC and $USK (whose collateral is currently locked in Ghost against the $KUJI bad debt) will be given the opportunity to effectively swap their stablecoin position for $KUJI. The process will also… https://t.co/L0T5bb1rIw
This is the way. $KUJI's main issue was being isolated and lacking liquidity. $RUNE / @THORChain has that. 🉐 x ⚡️= would be great for both communities. @CALC_Finance team already saw this potential and started building @CacaoSwap ahead of time. https://t.co/3XyDNGyBEz