Hello everybody and welcome to the Customs Club. I believe we got Duff with us. I invited you to speak at this stuff.
Hey there, yeah, I'm here. How's it going? Perfect, perfect. I'm good. How are you? Yeah, all good, man. All good. We tired, but yeah, I'll be fine. You're not the occupier in the Lindy states like everybody else or? No, sadly not. Yeah, I just kind of creeped up on us and yeah, we just
wanted to keep our heads down for now, but yeah, we'll definitely go to the next ones. Well, I think your team and the development of Kuchira is showing that you guys are hit down. I guess so yeah. But we'll talk about that in a minute. But all right, it's officially
4 p.m. at this where I'm sitting. And yeah, welcome everyone to the Cosmos Club where we talk all things Cosmos, which we daily about what's going on and summarize that in a weekly newsletter. And then we invite people to spaces like these who are building the Cosmos ecosystem. And today we got Duff from Kudira.
Welcome. Thanks very much man. Yeah, thanks for having me. So I want to just dive right in. I know people are dying to hear more from you guys because you are shipping like there's no tomorrow. Let's just say that. So for anyone who doesn't know what is Kudira, what is the Kudji token and why do people need to pay attention here?
Yeah, so I guess people have been already know that we came, we migrated from Thera, but as we are now, we are now a Cosmos layer one blockchain and the vision is to be a really complete DeFi hub, so we want Cajera to be a place where
you can come along, put your money to work in a safe way. We want to make sure that it's sustainable. One of the key differentiators with Kajera is that we're not using inflation in order to try and attract users. We are relying on revenue generation.
This is really the key to what we're doing. And basically the Koji token is pretty simple, but it has quite a unique design in that if you stake Koji, you then get a portion of 100% of our revenue that gets paid out. But that revenue ends up being paid
in a basket of tokens. So for example, if somebody goes along on one of our apps and they're using say Juno or Atom or anything really across the cosmos, those fees then get generated and paid back to you in that denomination. So yeah, it's been received pretty well. It's kind of similar
to what we did on Sarah with the idea of SQG. But obviously this has got a much bigger scope now, being a layer one and having all these protocols that are starting to build on the network. And there's a bunch of different applications already out there that people can use. There's something called
blue, orca, fin, and I'm sure many more coming. Perhaps just give a quick introduction on the distinction between those, how they play into the ecosystem. Yeah, definitely. So yeah, I'll start with the ones that are kind of internal as in Cougierre built, as in built by the core team. So blue is kind of like
your dashboard for sort of any operations that you might be taking in terms of staking or governance, sending receiving tokens. We have a simple swap interface in there and of course it's also the place where you can now mint USK by providing
at him as collateral. I'm sure that's something that we'll probably talk about later but basically that this is kind of your your your Cajera dashboard your Cajera home. Then Finn is a 100% on-chain audiobook decks and so that's that's something that we have
actually we had just started working on during the last teradays and then that ended up becoming our first full featured and live product when the blockchain went live because of course we needed somewhere, somewhere mainly initially for the KUG token to trade but now
We've got a whole bunch of pairs and we've been working on getting liquidity up but yeah, basically it's a 100% auto book decks 100% on chain and then there's Orca which is actually the first product that we ever built which is the the very first public marketplace for liquidated collateral
So if that sounds a bit heavy, basically if you go off and you want to take a loan, you need to put up collateral against that loan. And it's that collateral that if prices start falling sharply or some people really fly close to the sun in terms of their TVL setting, then liquidations
happened. The main thing about Orca is that before it came around, it was just kind of bots with lots of capital that would chomp up all of this liquid-edical lateral at a discount and often just go sell it on the open market. It's been really cool to actually
open up an entire market and it's a massive market, right? It's billions of dollars worth. So yeah, we're very proud that we've been able to make a product that brings a market like that to everyday users. So those are for now, like the core internal cajira projects that are going on.
We've actually we've already had one protocol launch for you know, it was probably not even 24 hours ago. And that was that's black whale. And they've got a really, really interesting project that basically allows you to participate in market making and gain an AP off from that much like a market maker would. So that's super
cool that they actually I just noticed before the call that they reached over a hundred thousand dollars worth of deposits in their vaults. Yeah, it's quite a quite a cool milestone considering it's not even been a day. And then yeah, there's a few others. Yeah, but I mean, I won't go on too long about that. But yeah, we've got quite a few projects building and loads of discussions already.
and proposals popping up and stuff like that. So yeah, this time's going on. I can imagine. And by the way, the liquidation market, Orca, that's such a super cool implementation. I would liquidate it so many times that now it's time for me to, you know, get back in the
the game. So if anyone who felt the same pain as I, this is your place to go now. Yeah, no, it's interesting, right? Because you can kind of play, you can kind of hedge yourself as well if you want, right? So if you were to go, go off and take a loan on one side, now at least you can go on the other side and kind of, and kind of hedge
your bets as it were. So yeah, that's kind of something that we really stand by with Kujira and something we really want to do is to make a very kind of circular ecosystem. So yeah, like if you need to be able to, if you can, you know, if you can go long somewhere else, we want you to be able to also be able to play the other side of that.
We think that's important. I think two often, you know, certain parts of these systems are really closed off to people. So yeah, you can see on our website, it's kind of our, it's a big part of our ethos and what we're trying to build. Definitely. And you mentioned a Black Wheel just at the end, which I also
noticed went live, I believe it was yesterday, yesterday, and if I understand correctly, is that like an AMM where you can add liquidity, like Uniswav or Balancer, or is it something else? Yes, so I mean in terms of how it works on the front end, it's pretty much exactly like that. You go in and you put
Let's say for example the the USDC QGP so as far as functionality is concerned it's kind of exactly like that except You're not you're not getting paid in an AMM basically you you put two tokens in and then you get they just give you a bunch of inflation
retocons and then you just kind of have to hope that the impermanent loss doesn't kill you which pretty much always does. But with black well, it's actually a profit generation, based on the buyers and the sales. And when what's pretty cool is that, obviously, and you can already see it's really helping the liquidity
see in the book that's driving more volume. So yeah, we feel it's kind of a win-win. People can gain an APR and make some money and also be pumping pretty much legit volume through the system. That's a really good thing. And then there's a couple of other projects like Calc Finance who are also going to
have it's a different product but basically it's going to be about DCAing in. They've got advanced algorithms so people can come along and DCA effectively rather than trying to guess the market. They kind of take that off your hands but again, Finland is going to kind of be the centerpiece to that where that liquidity gets pushed through.
Yeah, I think we're going to see some some some really exciting things and some good volume growth considering that these teams are coming along with that specific goal in mind, you know, they are. They're pretty specific and they they are revenue generating projects. So yeah, it's going to be good. Yeah, it's a very powerful mix.
and sweet of products you have already, I think, just to take the example of Orca again, that's how I buy Adam now. Sure, when you open up new markets, I'm going to buy whatever new markets that you open up via Orca, via liquidation. Yeah. I mean, I tend to agree on this is the truth.
I honestly, it's how I buy tokens as well. Because after seeing Orca work for, I think it was close to a year on Terra, you can kind of see the patterns, right? When these liquidations happen, sure, you may not hit the very bottom.
but the key with Orchard is that you're getting that spot price at time of liquidation minus the discount. So you actually, and so I think a lot of people when they don't understand it, they go, well, why wouldn't I just buy the bottom? It's like, well, first of all, and this, unless you know where the bottom is. And if it's any, anything
anyone knew where the bottom was that obviously be stinking rich. But if all could kind of take said off your hands because usually and it worked pretty much like clockwork with Luna. Usually when those liquidation events happen it tends to signal a local bottom. Obviously no crystal ball but just based on our
there's even been some papers written about it, it tends to be. So yeah, it's an extremely, extremely effective, dip buying exercise, if nothing else, right? So yeah, I mean, people have different strategies, some people stack kind of lower beds so that they get hit more frequently. And as you mentioned, that's a really good way to just make sure
that you're roughly buying at a local bottom and then usually within about a week or two they tend to, the price tends to drive its way out from there. I'm not sure if you know there's going to be a bit of a bit of a cosmic bit. That's going to be pretty cool.
because you're going to be able to mint you with K with that. And then suddenly people are going to be bidding on Bitcoin with Orca, which I think is a very exciting prospect. You can bet that I will be one of the first to use this. It's like Christmas is coming early for. Yeah, it's good. We think it's going to be really cool. And it's been great working with that team. And yeah.
I don't know, as far as I know, we wanted the first kind of external use case for it, other than just bridging it over to Cosmos. Because of course, you need to have specific use cases for that NBTC within the Cosmos ecosystem. So yeah, we're really happy to be working with
Definitely. And that brings me to a question that I've got to ask earlier about the kuchi token because personally what I really love about kuchi you mentioned a few times it's non-inflationary and despite being non-inflationary you have a big community around it. Like a lot of people they inflate their token you know give up rewards crazy amounts of
orts and people are excited about it. So they build up a community on the back of that. You don't do that. You go very much against the whole, yeah, what everybody's doing right now, I think. And at the same time, all the protocol fees generated from thin, orca, blue, etc. is coming back to the people's stake in KUJI.
And for me, from a financial perspective, it works like a perfect diversification play. Like I'm just sitting there, sticking my kuchi and getting fees and all kinds of currencies. Now, we've BTC as you mentioned, kuchi of course, USDC, like you name it, like so long list now. So the question is basically,
How did you guys come up with this? What was the thought behind? And then a second question on the back of that. How did you learn from the mistakes of Terra? Because you mentioned also in the beginning that you came from Terra initially. But yeah, they started with Gucci and then we can talk about Terra afterwards. Yeah, for sure.
It was actually back in the day, I think I briefly mentioned S-coogie. So we had, if you state Koogie, ultimately, this wasn't actually in our initial tokenomics design, but I think because we had already got a really strong community back then.
I think we were pretty consistently in the top three or four in the terror ecosystem. So I think that helped us in terms of getting community members on board and getting people loving, loving, I think the brand, you know, I can see Brett and Hunts on this call, you know, they're both listening in. I think we've
built a strong brand and built a strong community around Kajira in those early days. But it was actually some conversations with, I think, Hutch really championed it. We haven't spoken to him in a while, but he started talking about this concept of, well, sure, you can pay people in
and KUJI, but at the end of the day, people, why should they care about KUJI? If you know what I mean, and it was kind of hard to hear that, but it was actually really relevant. So the thinking is, well, if we sort of let go of this idea that our token
needs to be the only specific focal point. And we can just almost just kind of give the people what they want, right? So I think that's kind of where the conversation started. And then between hunts and breads and myself, we started talking about it and saying, okay, well, if if steak and kooji is a root to all
these other apex assets, then we don't really have to place so much emphasis on our token per se, because we know that it ends up being the gateway, as you mentioned now, to this kind of automatic collection of all of these assets. And as you said, it feels like you're just sitting back and
kind of automatically a DCAing and getting these rewards. So that's kind of where the conversation started spanning and then we implemented that as escuG back in the day. And then because we, I guess we were fortunate enough to see how when that happened, things really, really started changing for Cajera. We remember
But that being a real turning point. So I think when we designed everything for the chain, we thought, well, we don't keep that in place. And so I think we're fortunate enough to already have that in play. But yeah, we just saw it really work. We saw the excitement around it. Initially, people see and
perhaps their mounts are quite small and they're like, "Oh, you know, but as time goes on and I can see it happening again now with newcomers and the cosmos in general, people, it kind of starts clicking after a few months, people go, "Wait, hang on, I now get it." And they start appreciating this accumulation of
these tokens. So yeah, that's kind of how it came about. I can't remember the second part. Sorry, well, obviously last. Yeah, before we go to the second part, I think what I also really like about that strategy is that it perfectly aligns incentives because it's basically network effects. The bigger, the more people using the cajura ecosystem, the more
applications that are being deployed like we just spoke about blue, thin, organic, etc. The more protocol fees are being generated, the more attractive it is to buy kuchi and stake kuchi of course. And then the snowball just keep rolling. So I think it's a really nice way of aligning incentives between the community investors, people
building on Kajira, the core developers, of course, full circle, basically, which is very different from what I see in many other ecosystems to be quite honest, which is pump and dump kind of inflating the token into oblivion and then leaving the, some people leaving them with the back, basically holding it.
Yeah, exactly and that's what I was saying earlier. The whole circular nature is incredibly important to us. Also, a lot of the product, well, I think we're all of the ones so far and all of the ones that we kind of speaking to behind the scenes that are preparing their documents in order for the proposals.
They're all on board with this idea of actual revenue share. So instead of a project coming along, they're going, "Hey, how many tokens can we air drop to the community?" They're going, "Hang on, we have an actual business model here." There's a deal oil, it's just a new one that's
just put out a proposal. This is an actual business proposal. This is an affiliate network. This is a business that can actually make money. It's not, I don't know, some random thing that has a token. It's an actual business. These people are on board with revenue shared back to the Fuji Stakers.
We haven't, I mean, to be honest, that has come completely naturally. It's not like we get on the phone to these people and we like, "Oh, you know, we demand that you pay." It's not like that at all. I think this whole ethos and this whole circular nature and the way we pay back to the kujis takers is it's resonating.
with the projects that want to build and they actually come to us and say, "Okay, we're willing to commit 10% or 5%. So what's happening right here is people are think are realising that a strong cajira as a strong platform is only going to be better for them and the community. So yeah, it's really
really exciting. So I think once all that kicks in, once you've got multiple proper businesses, that's the key. People that have an actual business model and that revenue, that's the key. Not like some, hey, we've pushed a mint function on a keyboard because that's not, you know, anyone can do that. Anyone can just print tokens and then hope that it has a value.
The key here is that these are businesses that can generate revenue and that revenue share comes back to stake it. So yeah, and we're pretty confident this is going to work long term and then it will be something that can be sustainable literally forever rather than this kind of feeling like when should I exit this because they're
We're pretty excited. And it almost makes KUCHI a share in the KUCHI era network like real equities because you're getting part of the revenue just like you know from regular shares. Yeah, exactly. With legal expert. Yeah, no, without the trickiness attached to actually
having to assign. But yeah, it's kind of you could look at it that way. And the second question to go back to my original question was about Terra, the move from the Terra ecosystem or building on Terra to building your own customers layer one, sort of using the customers SDK and never
everything to build your own chain. And just a backstory also, I spoke to a loop finance not too long ago for anyone who's interested, you can go and check it out, Spotify and all the other podcast platforms. And they went through the exact same, how do you call it, the war of moving from the entire chain to, yeah.
to building their own. So how was your journey on doing that? Yeah, look, it was, I can't really claim much other than just one part of the whole triangle. But I think we had a really good experience. So nothing really stands out.
We obviously had to work incredibly hard. I think that's the main thing. We really had to push. We did it in a short time, but we wanted to do that so that our community could get back on their feet. That was really the thing motivating us the most. Everything just sort of fell apart and it was just feeling
like, well, what now, right? Like what do we do? And we knew that we still had a really good community. And that really was the driving factor. It was like, listen, let's just put our heads down and crack on it, get this done so that we can get this community back on their feet in some way. And I think honestly, that was the most
just a rewarding part was just seeing people saying, you know, like I finally, finally have a bit of hope, you know, after the whole incident where people, you know, lost so much. So yeah, I think we were really driven by that. It's really driven by those comments and by people really backing us to do it. So yeah, there's no
real comments. I mean, technically it was good, it was smooth. I mean, Hunson Brett in particular had soft, you know, they just charged on like madmen and I was just kind of trying to steer the ship through the storm, you know, that's kind of how it was. But yeah, we wanted to get going and needless to say, tenderment and
whole system made it really smooth and of course we're already working with similar technologies from a smart contract level and all of that in Terra. So at least it wasn't something totally foreign but I'd say we enjoyed it. Yeah. I think it shows and you guys have been looking at the
the amount of platforms and applications that you have already, it really shows that you've been building for a long time and you've been moving fast to your own chain. But of course we can't talk about Terra without talking about the EFFIC collapse of Terra. And you guys just came out with your own stablecoin, USK, which
The biggest comparison is the headline. I guess for people out there who doesn't know, to mint USK, you need to provide Adam as collateral. The difference of that compared to Luna is obviously that you can't have the same kind of death spiral as you could see attacking the Luna ecosystem, or terror ecosystem.
You are adding more assets as collateral as we speak. I think you announced that you were going to add Was it BGC? No, I'm exactly So you're not diversifying the collateral right there, but yeah, maybe speak to more to the stablecoin I think a lot of people is excited about that. Yeah, definitely so we wanted to
We had a look at it all and we wanted to do something that was safe for obvious reasons. We feel like we need a reliable stablecoin in the ecosystem. I think we all saw with USD barring, like if we just forget about the fact that we now know it.
just in terms of how important it was to have that stablecoin and how many applications were able to use it. Of course, you're not bridging the bridging of other assets into Cosmos is really dangerous and I'm sure we've all seen the data
of bridges. So a cosmos native stablecoin that will actually be it'll be it'll be RBCable really soon as well. That boat actually went up today. So in a couple of days we can then start seeing USK kind of traveling around the cosmos with
just going to be really interesting. But yeah, for us, we wanted something that primarily can be used in our own ecosystem. Of course, we have all these DeFi applications, right? It's a lot of finance stuff. And it's really important to have this kind of dollar-pig stable that people can work with in
an easy manner as mentioned without having to bridge and without those kind of risks. And even aside from the risk, it's also just quite hard for a lot of people. You know, going through those bridges, it's pretty daunting. It's quite easy to make a mistake, you know. I mean, it had sort of, we love all the guys that, you know, axel are they doing a fantastic job. And that's only once more
part of what they're doing. But there's no doubt that there is a bit of a blocker when it comes to people trying to get into the ecosystem. So yeah, for all those reasons, it's also very capital-efficient. But the important part about USK is we rolling it out safely. You'll see there's a million men capital
now and we're going to keep our eye on it. Yes, MBC will be able to be used as collateral to mint. And this is actually probably going to be quite exciting to people on the call. We haven't actually mentioned this. I don't think at all yet. But we're chatting to the team at Stride and Persistence and we will have
those two versions of stake at some available to users, so I think that's going to be really a really good thing people have been asking us over and over and which we understand but we needed to make sure that we had a safe way and yeah those two teams have actually helped us tremendously
in terms of locking heads together and talking about our recalls and prices. We now have a solution and we're going to be pushing forward with that which I think will make people happy. That's awesome news. You heard it first that the Cosmos Club, yes. Providing a liquid-stake assets like ST Adam or ST Starers.
I believe Stride for example have and be able to mint a stablecoin like usk. I mean, well, what more can you ask for? It's financial freedom right there. Yeah, exactly. Now it's it's gonna be it's definitely gonna be a big big step and at the same time, you know, IBC coming along, we've we've seen quite a few.
people on Twitter, they're ready rallying to find pools for USK. So yeah, I think it's going to be very exciting once we, obviously the economic Bitcoin and then the state assets and then the fact that IBC would be enabled, I think you're going to start kind of
seeing it take a bit of a life of its own. And yes, as long as it's all being safely minted, et cetera, then it's going to be really good for the whole ecosystem, not just for Kijir. And would you agree? You mentioned safety is a priority, because I think a lot of people are almost allergic now to algorithmic stablecoins.
Yeah, from the terror experience and all that. So would you agree that by using collateral from assets, first of all from different types of assets, nommic, PCC, atom, and then also not using your own kuchi token as collateral, at least not in the beginning. Yeah, that is a more safe bet than
than the Terra version where they use Luna as a collateral. Yeah, definitely. I think the, I mean, fair play to anyone that's doing an Elgust table quite now. They definitely brave. But yeah, we feel like it's definitely the way to go.
And it's not just that, right? I mean, you can see the regulations that are coming. The people have been pretty, pretty clear about that. Like any kind of algorithmic stablecoin is going to be seen in a very bad light. So, and also the kind of using your own token, we'll
Obviously, just want to wait and kind of watch the news around that because of course we don't want to do anything that that jeopardizes could do or the community. So yeah, we're pretty confident that this is the right way to be going. Awesome. And I want to open up for questions from the community early because a lot of people have a lot of questions to ask.
And anyone on the call who came up with something they want to ask just raise your hand here in the Twitter space and then I'll take a note and then I'll get back to you. But some of the questions that came already on Twitter around us K by the way is what do you think of introducing a
to finance entrepreneurs that try to push usk adoption in e-commerce, web shops, pick-up stations, etc. All based on usk. Yeah, absolutely loved that. Funny enough, Hans just shared that person's question in the tweet and he was like, "Wow, this is really cool."
Cool. So yeah, I love that and just for some more concepts. We've got a growth lead on board called Dan and he's been literally having like three or four in Vista calls a day and we're really stacking our list of good partners to work with for the accelerator.
predominantly, but of course those two could go hand in hand, right? That could be part of the fun, could literally be what you just mentioned, like who knows, say a quarter of it or half of it, whatever the case may be, is quite specific. It's like, okay, pushing the stable coin into what are today's
We've got to be very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very, very#
One day we will be able to use our USK to buy stuff on various different web shops. If we can't already of course. Yeah, there's actually one of our validates is I just wish I could remember the shop but they spun it up like the day after we launched that plugin. So technically,
Well, literally, you can already, we're going to have our own merch store with really, really, really high quality gear and you'll get a decent discount if you use USK. So that's what we'd like to do, I'd kind of put our money where our mouths are and show off these applications and the best
possible way. But certainly we're going to be looking to expand that, looking at other shops and the shop with five been pretty hesitant. But you never know, right? It's still early days. We're going to make 30% of all e-commerce globally, which is pretty amazing.
look at what other systems that we can tap into, but yeah, definitely going to be a focus. And that's perhaps tied into another question. I'm not sure I'm fully understanding, but there's someone asking if there's any plans of partnering up with Woon Network for deep liquidity. Is that related to WooCommerce or is that a liquidity provider for your? Yeah.
No, I think there's quite a few of those. It's definitely something that we can put on the table, but we do want to... We're kind of conscious of trying to do this organically. And as we've seen, people are obviously very, very keen to see big liquidity.
But we also don't want to almost have a concept of fake liquidity. I think that can kind of be dangerous as well. So we want to let black whale run its course. You know, we want to let kel come along. We want to we want to let these protocols that actually all need fin as a key sense of peace. But it's definitely nothing is off the car.
and we're always chatting and looking at ways we can partner. So yeah, if there's some kind of liquidity system that ends up making sense, then sure we can. But a lot of them require that inflationary token itself.
and stuff like that. So we kind of feel like it takes us back to square one a little bit. We just want to see if we can really break the mold and get something going. Yeah. And I think the organic growth is really like it shows with your action actions. It's not just what you're something that you're saying. I mean, there was a big Twitter debacle, not
long ago and not to pick on anyone but I believe you got a question or someone from your team got a question about why don't you list on on Kepler the Kepler wallets and there was someone from your team or maybe you are I can't remember saying that we weren't willing to pay from the community pool or whatever $300,000 to be listed on
capital we want to invest in the ecosystem etc. And that just blew up my crazy on Twitter from what I could see at least. So I think it really shows by your actions that you are really focused on building organic growth and at some point you become big enough for people not to be able to ignore you like Kepler, Binance, whatever centralised institution.
Yeah, exactly. I mean, with regards to that, it's quite interesting. You answer a question. Somebody says to you, why can't I use Kepler mobile on your products? And you go, well, I'm not sure what the alternative is. We could have just lied to that person and said, you know,
So we told the truth and said 360k years, just a little bit steep for us considering that we probably need certain functionality. And of course we can build a wallet, a terabyte to wallet, and they didn't have a mob attacking them. So yeah, it's just interesting.
got some strange views sometimes, but we just crack on them and do what we do. But that comes from the camp of very inflationary tokens like going out there and throwing money at everything and hoping that it solves a problem. Which, too, it doesn't. Yeah, we're definitely ruffling tail feathers. We understand
that. We're not trying to kind of, we're not, we're not out here to kind of upset people, but if we see something that we feel like we can do better, we're going to go off and do it. And it is at the end of the day, it's a free market, right? We can do this stuff, we can build our own wallet, we can pay our own way. There's a lot of people that don't#
it but sadly they're kind of going to have to deal with it to be blunt. And that of course begs the question or to put you on the spot here but are you considering or maybe already building your own wallet like Terra Station I guess you're referring to? Yeah, yeah, so we well underway. Development is going super well. It's
going to be a mobile app only initially and maybe forever because we're kind of thinking about this. If you think about how, let's say for example if you're logging into a neo bank or almost other applications now, you will be asked to do something on your mobile, right? It'll be like either you get a code or you're using Google Authentication.
or text or whatever the case may be. So the idea that your mobile becomes that the app will be much more like that. And another really big reason for that is all the security then goes on to your device. As soon as you start having the browser extensions, etc.
Then you can really be asking for trouble. So again, coming back to the way we work, you know, max security, sustainability, you know, trying to keep people safe. We think that that'll be a really nice way to go about it. And because we have fin and alker, and there's going to be a bunch of other apps and obviously coming down the line.
We get to the entailer and experience for those apps. It's not unlikely. It's impossible that a third party wallet would build in really, imagine we said, "Hey, can we have a basic interface for bidding on Orca?" They would laugh us out the room. It's quite important.
And we're able to tell it at experience because we are well aware that most people are in their mobiles these days and we're well aware that it's been a huge blocker. But at the end of the day, it takes time to build something like that. But yeah, we can't wait to actually show that to the community and then finally have that mobile functionality.
There's many reasons, but definitely all well underway. Going to be asking for some screenshots after the call actually. Awesome. Fantastic. Another question also relating to usk just to stay within that real subject is about the use case of usk. Why should we start
up staking our atom to mint usk and can we use liquid staking atom to mint usk? You already answered that. So that's some alpha there for people. Yeah, yeah, exactly. So I mean, the main point here, of course, we realized that staking atom is, you know, it can be, it can be nice
valuable, we realize that people don't want to get rid of those liquid assets. So yeah, I think at the moment for somebody that probably has a big enough bag, they probably do want to keep some out of staking and then the key thing is you can then go and you can put that to use. You know, you can, you
You can put an asset to use, you can min some USK, then you can go and do something with that USK. Clearly in the ecosystem, Blackwell are going to have a USK vote, for example, Calc Finance will have USK, you know, things you can do with USK. And clearly because that is going to be kind of like the stablecoin bedrock.
of the whole network, people are going to know that kind of build in use cases as they go. So yeah, the use cases of that stablecoin are going to grow. As we mentioned now, really pushing hard at the e-commerce angle, we really want to push the decentralized commerce.
That stablecoin then gives us that platform to be able to go and build on all of those things we spoke about. But yeah, the state atom should make a really big difference for sure. Make sense. Another question about lending markets and how Orca is being added to lending markets.
So the question is, are you going to create your own lending market platform? I guess the person is thinking about something like Aave or Yumi in the Cosmos ecosystem. Are you going to build that on Kuchira or is it a third party building something like that on Kuchira? Yes, so I think we are
We're kind of hoping, we're kind of hoping that we can look after the kind of stablecoin side of things and when it comes to lending markets I think it'll be really ideal if a third party could come along and build that so I think I mentioned
it on a call before that it would be ideal, I think, to work with another team on that. But it doesn't, like, I think if it came down to it, we would build something. But yeah, it would be really ideal to be able to work with another party on that and have them kind of own that piece because that, you know, that seems like a real
really good. I think there's a big gap there, put it that way. I think considering that the liquidations are already covered by Orca and considering that there's a stable, like a safe stablecoin in the ecosystem, I think it would be a really good opportunity. So yeah, it's early days, but we're kind of going to see where
where that lands and take it from there. But it is important to note that we're integrating with quite a few other markets already. We're in extended conversations with a whole bunch of lending markets across Cosmos and EVM. So we have a setup for
both. And who knows, we'll probably expand on that as we go too. Yeah, there's something like Dan's got a spreadsheet. I think there's like 25 people that he's reached out to and like, I don't know, six or seven already in that sort of talk. So yeah, it's going to be pretty exciting. Imagine down the line, you're getting, you know, the fees
and the commissions from withdrawal from who knows, 5, 10, 20 different ecosystems. I know Polka.Cala are kind of getting back on their feet. Now they have their recovery plan underway. We were imminently launching on their on Carrura and then obviously that got delayed because of their stablecoin
that exploit their head, but yeah, certainly lending markets, more markets, integrating with all curve, that's all that's all stuff that is definitely going to come in one way or the other. Nice. And I guess what the person is really asking is when can I put my atom to mint USK?
at that USK to a lending market, borrow more atom, go back to Orga and mid more USK, back and forth, back and forth. Yeah, no, exactly. It makes perfect sense, as I say. There's no doubt that's going to happen in one way or the other, but at the moment,
it is so much that the core team needs to focus on. But again, putting this out there, we've chatted with a bunch of teams and I'm pretty sure someone's going to be cooking something up imminently. Otherwise, we'll look at it. It's just the stable coin initially was we felt like the most
capital-efficient type of lending market we could create. And yeah, we definitely look forward to expanding on that. Sweet. Yeah, I mean, for the time being, people just need to buy Adam at a discount via ARCA at the Euronequadation market, which we talked about in early weeks on the call.
Yeah, exactly. No, it's yeah, exactly. No, it's it's it's definitely a good way But awesome to see that you're adding Stakes or liquid sorry liquid steak assets like ST Adam Perhaps also with quick silver once they get their act together and launch because that's really powerful, right? I mean, then yeah, you get the rewards and then you commit
and USK and go about doing your business. Yeah, definitely. But I mean, again, another big shout out to persistence and stride. These guys have been super helpful. They've really been willing to kick the can with us and just figure out how we can do this.
and they really did help us point us in the right direction and kind of make us feel secure about mechanisms and yeah, we're now currently working away and just making sure all the Oracle stuff is going to be sorted and then yeah, it's going to be massively exciting when that comes along. Awesome. Do I have a new busy man?
I won't keep you going on and on forever, but I want to ask you, and I would regret if I didn't ask you this by the end of the talk. What is on the road map for QGRI? Is there some alpha, besides what you spilled already that you can unveil a bit for us? Because there's so many things going on in QGRI. It's hard to keep up almost.
Yeah, I mean, I know it's, I think we've just been moving fast, but with a pretty clear vision, right? So it's not like we're just trying to go crazy, but there's always ideas that we're working on, but to be honest, right?
Now we're in a phase where we really need to get these new protocols onboarded and basically get this ecosystem from a network perspective really humming along so that we can say, you know, look, this use case has actually been proven. Plenty of stuff in the background. I mean, it's also
like the kind of external things that move around the network. Like one really exciting thing we just found out, for example, there's an NFT project that God and Tutu doesn't said they're going to be doing a mince and 100% of royalties and 50% of the minfies are going to go to goodgeras stakers and we like
Wow, you know, so yeah, you start and that's so that's going to happen on stargates yet Obviously through the power of RBC people will get rewarded all of those fees into their kujji wallet So I think it's just kind of thing that's starting to yeah, it's it's amazing And I think yeah, I think people are really gonna love that project and what's going on?
great is people are spending a lot of time and effort into building on this kind of ethos that we've been building and rewarding the community and especially rewarding stakers. So I think that's probably for me, it was even a effort to me because I'm like wow, these guys are coming along. We don't even have to have
an NFT marketplace in order for NFTs to be a huge deal for Kajira. And I think that's really exciting. We've got a, there's a project called, called Aqua on, that are actually launching on Juno, they're not air dropping 2% of their supply to Kuji Stakers, right? Which I think, yeah, it just shows the power of
of the cajura community, I think people are really realizing how strong it is. And so you can imagine these possibilities. You've got people doing NFT collections that are going to benefit cajura stakeers. You've got people on other cosmos networks that are going to a drop in death
going to benefit could you stake it. So I think if, you know, we just keep going as we are and just keep on pushing, just keep on working hard, keep on getting really good revenue generating protocols on this network. Literally, it's been two and a half months. So you can imagine down the line, imagine this. Suddenly there's 10 projects doing it.
and a whole bunch doing NFTs or anything else around and it's definitely showing off the power of Cosmos and IBC but I think the one key factor that we have going for us is the community. I think we brought over a whole
ton of rec lunatics that kind of, you know, we all know how passionate and wild that community is. So I think we get hats off to our community, hats off to all those amazing boys and girls out there that kind of stuck it
out and realise that this, you know, it's like not all is lost. So, yeah, happy days. Awesome, man. I mean, that, the story that you just mentioned about the NFT project, that's exactly why I got myself more into Cosmos. I used to be very deep into the Ethereum community, build a ton of apps on
But I just didn't like the vibe that was becoming more and more prevalent where it was almost like a series of games, you know, if I was creating a text on a landing market and somebody else was creating a text landing market, even though we were both building on Ethereum, we were competitors because if you got liquidity, you know, you know, you know, you know, you know, you know, you know, you know, you know, you know,#
it meant it was liquidity that didn't go to my lending market or DEX or whatever. But in Cosmos, that's where I really started to pay attention. I heard about, of course, Adam and Cosmos years back when it went live and all that. Then really pay attention. But when I saw how the community, you know, people building on Cosmos and almost
like cheering each other on, like you just mentioned, and then a T-collection on StarGaze will be able to overlap via RBC into KUCHI. That's just awesome. That's exactly the kind of vibe and the environment that I want to be part of, at least, and building on. So yeah, the power of Cosmos is coming to
life I think is really awesome to see. Yeah I kind of agree more. I think we can all see it right. When things really pick up again I think it's already become pretty obvious that the cosmos in general is going to be a massive, massive player. You can see already what Attsam is doing.
And you can see that it's gone beyond, oh, maybe. So yeah, I fully agree. It's really good. And one thing is for sure, before the bear market, we out of the bear market is that I'm loading up as much Gucci as again, because once people realize that they can just stake that and get fees and all kinds of course, people will go crazy, I think.
I did at least when I first heard about it. Amazing. Thank you, man. We appreciate that. Thank you so much, stuff for coming on and yeah, keep on building, keep on kicking ass. You guys are doing great. Thank you, mate. And thanks everyone for listening and I really appreciate it. All right, man. Speak to you. Ciao, ciao, bye. Ciao.