Cosmos Stablecoin Summit Partners: Spotlight on USK
Learn about USK, an over-collateralized Cosmos stablecoin by Kujira, and its role in the Cosmos Stablecoin Summit and the DeFi ecosystem.
Dec 13, 2022
Greetings to the Kujira & Shade community!
In this highlight series, we at Shade Protocol are thrilled to introduce our partner projects for the upcoming Cosmos Stablecoin Summit in December. This provides viewers with the opportunity to learn about these protocols in advance.
Protocols and Speakers at the Cosmos Stablecoin Summit.
The Cosmos Stablecoin Summit features the following protocols and speakers: Eventbrite Registration - Set Event Reminder
Kujira: A Semi-Permissioned Sovereign Cosmos Layer 1 Platform
Kujira is a semi-permissioned sovereign Cosmos Layer 1 platform for community-selected projects that create true value. As a hub of innovative, revenue-generating products with excellent UX, Kujira aims to revolutionize DeFi and transform payment infrastructure. Sustainable high-quality offerings allow retail investors to go beyond exchanges, staking, and ICOs, and access opportunities once reserved for the whales and elites.
USK: An Over-Collateralized Cosmos Stablecoin
One of the flagship products of Kujira is USK - an over-collateralized Cosmos stablecoin soft-pegged to USD initially backed by ATOM, DOT & wETH. In addition to USK, the Kujira ecosystem has a variety of supporting dApps that enhance the utility and optionality of USK:BLUE (dashboard for staking & bonding)BOW (liquidity hub)FIN (on-chain orderbook)ORCA (liquidation platform)USK tokens can be minted only by locking up crypto such as ATOM as collateral and borrowing USK against them for a 5% interest and a 0.5% minting fee. The fees that USK accrues will be distributed among KUJI token stakers.
USK's Potential Success in the Cosmos
Shade Protocol is an ambitious array of application-layer products focused on a simple end user experience that involves the incorporation of privacy by default. These interconnected privacy-preserving DeFi products built on Secret Network will change DeFi as we know it — empowering the next generation of value creation and exchange. Shade Protocol is launching Silk: a privacy-preserving collateralized, reflexive stablecoin built on Secret Network.
Without privacy, DeFi is incomplete. Traditional financial markets offer a degree of privacy for users, and as a result offer up greater protections in some capacity than existing DeFi markets. Shade Protocol will be the world’s first truly cohesive decentralized and privacy-preserving financial applications — ushering in a golden era for Web3. Shade Protocol will always push for privacy by default, privacy as an expectation, and privacy as the key to unlocking the full value of a decentralized future.
But we can’t do this without community. We need you to join our community and help make Silk and Shade Protocol a reality.