Intro To Plasma : Kujira Proposal #148

Fuzion
3 min readJan 12, 2023

We have posted Governance Proposal #148 to be approved on the Kujira network. We are not requesting funding of any kind. Please vote on the proposal here.

This post expands on the proposal in more detail and the benefits Plasma brings to the Kujira chain.

As Kujira grows, it experiences higher volumes of transactions and increasing value. This signifies a healthy and vibrant ecosystem, and continued growth is contingent on providing safe, reliable mechanisms for large volumes of tokens to be exchanged without fear of falling prey to malicious actors or creating unwelcome short term volatility.

Our OTC solution offers users several benefits.

Firstly, Plasma users can create deals using any token on Kujira. We have a list of 26currently available, and if there’s a token you’d like added, please get in touch. In addition users, conducting large trades have the means to do so without exposing their position to slippage and impacting the marketplace at large, particularly on pairs with low volume on FIN. It also allows deals to be made using pairs not present on FIN. This makes the chain more attractive to holders of significant revenue looking to enter new markets quickly and efficiently.

Tokens currently available to make deals are:

  1. ampLUNA
  2. AQUA
  3. ASTRO
  4. ATOM
  5. axlUSDC
  6. axlUSDT
  7. CMDX
  8. CRO
  9. DOT
  10. EVMOS
  11. FURY
  12. JUNO
  13. KUJI
  14. LOCAL
  15. LOOP
  16. LP KUJI-ATOM
  17. LUNA
  18. OSMO
  19. SCRT
  20. SHD
  21. STARS
  22. USK
  23. WAVAX
  24. WBNB
  25. WETH
  26. WMATIC

Capital can freely move around the ecosystem to where it is needed, without disrupting the market in the process.

We’ve made it extremely easy for anyone to use. Deals can be created, browsed and accepted with a few simple steps.

Deals are created by users specifying the token and quantity they hold, and the token and quantity they want in exchange for it. Deals can be public or private. Public deals are visible to everyone and the other side can be taken by any willing participant. Private deals are only visible to the owner of a wallet specified by the creator of the deal, and may only be accepted by that wallet.

Tokens are held in escrow and transferred only when the specifics of the trade are successfully met. Users may cancel their deals at any point before the deal has been accepted by a second party, at which point deployed tokens are immediately returned to their owner.

A 1% fee is charged on the successful completion of a deal.

Our OTC solution enables users to trade a wide variety of tokens on Kujira.

BENEFITS TO KUJIRA

It’s our belief that a safe, secure and convenient OTC desk has first and second order benefits to Kujira. These accrue to the reputation and reliability of the chain itself, while also adding value to holders of KUJI, either indirectly through token value perception or directly through generating fees for KUJI stakers (we’ll expand on this in a later post).

To summarise, here’s how an OTC platform benefits the Kujira chain:

  1. Avoiding volatility on FIN caused by large orders on market pairs
  2. Enables trading between tokens that may not be trading pairs in FIN
  3. Enables holders of large positions to trade without slippage
  4. Safe, secure, and convenient platform for users to execute deals
  5. 25% of fees earned from Plasma will be distributed to KUJI stakers

NEXT STEPS

Once the proposal is approved, we’ll update the community with dates as to when the OTC service will go live, and further instructions on how to use it. Kujira proposals have a dedicated discussion channel in their Discord.

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Fuzion

A team building on Kujira. Our first product is Plasma, the OTC platform for everyone. Our second is Pilot, a launchpad in collaboration with the Kujira team.