August marked a pivotal turning point for SILK with the introduction of SILK into the Kujira DeFi ecosystem. Kujira is a decentralized ecosystem for protocols, builders and web3 users seeking sustainable FinTech. Kujira is the first time SILK has officially ventured out beyond Secret Network, empowering more users to have accessibility to SILK.
FIN - SILK/USK Listing
You can find SILK on FIN, the official orderbook of the Kujira ecosystem.
Users have the opportunity to provide liquidity and earn rewards on BOW, a set of market making smart contracts built on top of FIN. BOW delivers a better trading experience on FIN by narrowing the price spread deepening the pool. This is achieved by sharing fees with Liquidity providers along with additional incentives, creating sustainable yield by contributing to the growth, and value, of the entire ecosystem.
To begin earning rewards on ShadeSwap or FIN using SILK or USK you can use the Shade Protocol bridge to transfer assets between Shade and Kujira.
SHD/MNTA Protocol Swap
In addition to a SILK on FIN, the Shade Protocol DAO performed a liquidity swap with MantaDAO - a DAO focused on deepening liquidity on Kujira while also improving utility for users (such a DEX routing). In this deal, SHD was exchanged for MNTA empowering both protocols to create deep liquidity on ShadeSwap and FIN for the SHD <> MNTA pairing.
The beauty of this liquidity is that it is owned by both DAOs, and no inflationary yield is needed to create an excellent trading experience. In the future, you can expect more of these protocol owned liquidity deals to be part of the Shade Protocol story.
Expanding The Shade Horizon
Fundamentally, SILK is unstoppable money. A truly decentralized world needs truly decentralized money. That's what SILK is. A private, global stablecoin capable of changing the world. To do that, SILK needs to continue to expand its reach, liquidity, utility, and impact. If you are interested in the SILK vision, we invite you to join the Shade Protocol community.
Join us on our quest to make truly decentralized finance a reality.
But we can’t do this without community. We need you to join our community and help make Silk and Shade Protocol a reality.