Kujira: How to Buy, Stake & Earn wETH, wBTC, $KUJI & USDC Rewards
Kujira in English means ‘whale.’ This is why the Kujira team’s manifesto reads “everyone deserves to be a whale.”
Kujira is a layer1 project built on the Cosmos Ecosystem. So, naturally, Kujira will be connected to all the other projects on the vast depths of the Cosmos.
Kujira has its own native token $KUJI that is used for governance and pays for transaction fees on the multiple applications they have ongoing and to come.
As of now, Kujira has four dApps built on them — ORCA, BELUGA, BLUE, and FIN — yes, everything is fish-themed.
ORCA is a liquidation marketplace. BELUGA is a tool that allows transactions to be sent to multiple recipients at once. BLUE is Kujira’s dashboard. FIN is an order-book based decentralized exchange (DEX).
Kujira team is building their own wallet, too. This will be the tool that binds all these dApps together.
There’s more on the way and you should look at Kujira’s Medium and website to learn in-depth about these and the technology.
Let me get to the point of this article now.
How to buy $KUJI Token?
You can easily buy $KUJI tokens on Kujira’s own DEX, FIN. And the trading pair is KUJI-axlUSDC — the first and only pair for now. A lot more on the way.
So, getting USDC to Kujira FIN is the next challenge. Luckily, we have Axelar’s Satellite.Money bridge.
Update: now you can buy $KUJI token directly on Osmosis.zone, a DEX on the Cosmos Ecosystem, and IBC transfer the tokens to Kujira ecosystem with a few clicks.
So, you can ignore the rather complicated process below and go straight to staking.
You can have USDC stablecoins on Osmosis that can be bridged through Satellite.Money to Kujira.
Once you have some USDC on Osmosis, head over to Satellite.money, connect your Keplr wallet, and change settings to look something like the below.
Click on the little ‘Autofill from: Keplr’ button at the bottom of the screen, and click on Initiate Transfer.
In the next screen, let it do some background magic, and you are given the option to link to Keplr again. Click on the button, and you should see something like the below.
The ‘Balance’ section should show how much USDC you have on Osmosis. Select (manually enter) how much you want to send over and click ‘Send’ button.
Give it some time to process and head over to FIN by Kujira.
At the bottom right, you will be able to see the buy options on the app.
Enter how much of USDC you want to convert to $KUJI tokens. Be careful to leave at least 0.01 USDC to pay for transaction fees.
Another important thing — the default gas/transaction fee is set to $KUJI. But, of course, you don’t already have $KUJI with you to pay for the first-ever transaction.
So, this is where it gets a little tricky. You need to go to your Keplr wallet and remove the Kujira network by clicking the little ‘X’ button infront of the name.
Don’t worry, you can easily add it back because the FIN app will prompt you to add it back right after you remove it. So, just approve the pop up that says add Kujira protocol to Keplr.
This process should kind of ‘refresh’ Kujira’s transaction fee token from $KUJI to $USDC.
Now, you can convert your USDC to KUJI.
This process will be much smoother when Kujira’s wallet will be up and running. Fingers crossed for a sooner date.
How to Stake $KUJI & Earn WETH, USDC, and KUJI Rewards
Now, we heard over to Kujira’s dashboard titled BLUE.
BLUE allows Kujira users to participate in governance, swap KUJI tokens, stake KUJI, and claim staking rewards.
Right now, 100% of revenue generated from transaction fees is distributed to stakers.
There are 75 active validators on the Kujira staking platform you can choose to delegate your $Kuji.
So, head over to https://blue.kujira.app/stake, click on a validator of your choosing (keep in mind the best practices of choosing a validator), select Stake button, and determine the amount you want to stake, and click ‘Stake Kuji’ button. Now approve the transaction and viola! You are done.
Now, you should be able to see the validator you delegated your Kuji to on the staking screen. And most importantly, pending rewards in three different tokens — wETH, axlUSDC, and KUJI.
Let me know if you encounter any problems during the process and I will try to help you as much as possible.
Team Kujira is just beginning and I believe they have a long way to go.
Disclaimer: as always, this article does not provide any investment advice. The contents of this article are purely for informational purposes only and are not a call to invest or buy $KUJI or any tokens mentioned here. All investments are risky and you should always do your own research before investing any money anywhere.