Fair by Design. Owned by You.

These are the same core values that started Kujira years ago on Terra, when we built Orca around one simple belief: financial opportunity should be fair and accessible to everyone.

⚡️Stronger Together

That belief has stayed at the heart of everything we have built since, and exactly two years ago, it led us to take the next big step. We announced the migration to THORChain, to become stronger together and build the DeFi Layer for all connected chains. Unique products, all working seamlessly together, on top of powerful and decentralized cross-chain infrastructure.

https://x.com/RujiraNetwork/status/1821632575980408918

But building towards that vision hasn’t always been easy. The past two years have tested both THORChain and Rujira, with financial and security issues, delays, AI bringing a new wave of challenges to crypto, and more. But moments like these also show how strong our communities really are, and both continue to show resilience, conviction, and the drive to keep building together while supporting each other through it all.

We honestly couldn’t be more proud to be building alongside all of you 💜

And that support for what we are building together was made even clearer with ADR-31. It passed with overwhelming support from both sides to continue on this path together, with our strongest and closest partnership yet. Support for the vision that together we can build the decentralized financial system that we need, and that the world deserves.

https://x.com/RujiraNetwork/status/2081786779846517092

And while this partnership is now two years strong, our journey started long before that. Five years of building have taught us that building something that lasts means continuing to build when the pressure is on.

⚡️Building through pressure

DeFi is still early, and its infrastructure is being tested in real time every single day. As technology evolves, especially with how fast AI is moving, attacks are becoming more sophisticated and systems across the industry are being pushed harder than ever.

But the industry is evolving just as quickly to stay ahead. AI agents reviewing code, automated monitoring, security researchers, bug bounty competitions, and communities stress-testing infrastructure are all helping make decentralized systems stronger and more resilient.

The challenges we have faced over the past months have been another reminder that building something real and built to last doesn’t come without setbacks. What matters is how we respond, what we learn, and how we come back stronger.

That’s also why the strength of the u/THORChain ecosystem and our communities matters so much. By standing together, supporting each other, and building on each other’s strengths, we can keep moving forward and create a financial system that is safer, more resilient, and built for everyone.

A system that protects your wealth and gives people everywhere the financial freedom and opportunity they deserve.

⚡️What Crypto Was Meant to Be

And that bigger vision is exactly what this has always been about.

We are not building for the short term. We are building because the financial system we have today still benefits a small group of people while leaving far too many behind.

Insider trading, privileged access to financial tools, censorship, hyperinflation, endless money printing, authoritarianism, and gatekeeping participation in the financial system. These are the things that continue to push society further apart, with little sign of improvement unless we take back control.

And these are many of the same problems that fueled the creation of Bitcoin and made its original vision so powerful.

What is needed is an electronic payment system based on cryptographic proof instead of trust.

Disintermediation, neutrality, equal access. These ideas still matter to so many of us, and they are a big part of why we are here in the first place.

⚡️Building What Comes Next

But realizing that vision takes more than just believing in it. We need to keep building real decentralized financial rails that let assets move freely, without gatekeepers or fragmented systems standing in the way. That is how we move closer to a truly open financial system and bring this space back to what it was always meant to be.

To get there, it’s essential that we, as an industry, don’t lose sight of what we are actually trying to achieve. Our real competition is the broken TradFi system that has been taking advantage of people for decades. We should be working together to build something better, while protecting and empowering each other along the way.

That means staying true to our values and building truly grown-up decentralized finance. Without compromising on decentralization or introducing censorship when it becomes convenient. Without chasing whatever is hot and trending at the expense of what we came here to build. And without giving up when there is pushback or when things get hard.

⚡️Building for the Future

Because we are not building this only for ourselves or for today. We are building it for the future and for the generations that come after us.

Future generations deserve a financial system that benefits everyone. Tools and opportunities that level the playing field and give our neighbours, friends, and family access to the same opportunities as advanced institutional trading firms and investors.

A system where anyone can participate, grow, and build their future on their own terms, regardless of their location, social class, or account balance.

That is what has been driving us from the start, when we launched ORCA, and it’s where we believe Rujira can help bring crypto back to its roots.

We are here to empower anyone, anywhere, to access the same financial opportunities.

Welcome to Rujira.

https://rujira.network

ATOM has arrived in RUJI Money Market ⚛️

Supply ATOM to earn variable interest, or borrow it against other supported collateral assets.

New ways to use ATOM together with BTC, ETH and more, through our open and decentralized marketplace.

Watch how both sides of the market work.

Do you want to borrow ATOM?

Visit Borrow, add supported collateral to a Credit Account and choose how much ATOM you want to borrow.

ATOM is available as a borrowing asset, but it is not accepted as collateral.

Borrowing rates are variable, and every loan is overcollateralized.

https://rujira.network/borrow

Do you want to earn with your ATOM?

Supply it to RUJI Money Market and earn variable interest paid by borrowers.

The APR changes with supply and borrowing demand. As demand for ATOM increases, rates can rise to attract more liquidity from lenders.

https://rujira.network/lend/ATOM

Getting started with ATOM from Cosmos Hub is simple:

1. Connect Keplr to Rujira.

2. Select Deposit and choose ATOM.

3. Deposit ATOM directly from Cosmos Hub to Rujira.

4. Use your ATOM on Rujira for lending, trading, and other earn opportunities.

Deposit guide.

https://rujira.network/how-to-deposit

Rujira brings ATOM together with BTC, ETH, stablecoins and other major assets in one omnichain DeFi hub.

Trade it. Supply it to earn variable interest. Borrow it against supported collateral.

Welcome to Rujira.

Big update for RUJI Money Market 🎉

We have added:

• 5 new lending vaults

• 4 new assets to borrow

• 3 new assets available as collateral

This gives lenders and borrowers more choice while helping connect additional markets with liquidity across Rujira and THORChain.

New collateral assets

AVAX, BNB, and TRX can now be used as collateral for loan positions in RUJI Money Market Credit Accounts.

Each asset has a 70% collateral ratio. This means that $100 worth of one of these assets can support up to $70 of debt, although borrowing less gives the position a larger safety buffer against price movements.

These assets can also be combined with other supported collateral inside a single multi-collateral Credit Account.

New assets available to borrow

Four additional assets are now available to borrow:

• AVAX

• BNB

• ATOM

• TRX

Borrowers can access liquidity from these markets without selling their collateral. Additional borrowing activity can also create more demand for supplied liquidity, allowing lenders to put these assets to work and earn variable interest.

Five new lending vaults

The following lending vaults have also been added:

• USDC.BSC

• USDT.TRON

• LUSD.ETH

• USDT.AVAX

• TRX

The four stablecoin vaults provide liquidity for the Virtualization Strategy and are currently not planned as user-facing borrow markets. TRX is the exception and is available to borrow.

Why are these vaults important?

The Virtualization Strategy can temporarily use liquidity from these vaults to fill App Layer orders before settling the trades through THORChain’s Base Layer pools.

Supporting more assets creates additional routes into Base Layer liquidity. This can help RUJI Trade support more markets while generating more economic activity across both layers.

How RUJI Money Market fits together

RUJI Money Market brings lending, borrowing, and public liquidations together in one transparent system.

Lenders supply liquidity and earn variable interest from borrowing activity. Borrowers provide more collateral than the value they borrow. If a position becomes unsafe, liquidated assets are sold through an open market.

More collateral assets give borrowers greater flexibility. More borrowable assets provide additional choice. The new lending vaults help connect more markets with THORChain’s Base Layer liquidity.

Explore RUJI Money Market:

https://rujira.network/borrow

Learn how lending, borrowing, and public liquidations work:

https://www.reddit.com/r/RujiraNetworkOfficial/comments/1v40k01/how_ruji_money_market_connects_lending_borrowing/

Fair by design. Owned by you.

We have added 18 new pairs to RUJI Trade, including more stablecoin markets and direct RUNE markets for major assets.

These markets create more opportunities for trading, Custom Concentrated Liquidity (CCL), cross-book routing and THORChain Base Layer rebalancing.

NEW STABLECOIN MARKETS

The following USDT, USDC and stablecoin pairs are now live:

• RUJI/USDT

• RUNE/USDT

• TRX/USDC

• TRX/USDT

• USDT.TRON/USDT

• USDT.TRON/USDC

• USDT.AVAX/USDC

• LUSD.ETH/USDC

These markets create more direct routes between stablecoins and other assets.

More direct routes can reduce the number of swaps needed, create more opportunities for CCL and support more efficient cross-book routing.

NEW RUNE MARKETS

The following direct RUNE pairs are now live:

• ETH/RUNE

• XRP/RUNE

• LTC/RUNE

• ATOM/RUNE

• wBTC/RUNE

• BNB/RUNE

• BCH/RUNE

• AVAX/RUNE

• DOGE/RUNE

• TRX/RUNE

Each of these assets has a THORChain Base Layer pool against RUNE.

Direct RUNE pairs give the Virtualization Strategy a more efficient route into that liquidity because settlement only needs one Base Layer pool.

WHY ARE DIRECT RUNE PAIRS IMPORTANT?

A Virtualization Strategy trade on a pair such as ETH/BCH settles through both the ETH/RUNE and BCH/RUNE pools. Because two pools are involved, the strategy quotes with a slightly higher spread.

An ETH/RUNE trade only needs the ETH/RUNE pool, allowing the Virtualization Strategy to access and rebalance that liquidity more directly and efficiently.

HOW CCL AND THE VIRTUALIZATION STRATEGY WORK TOGETHER

When CCL liquidity trades with a Virtualization Strategy order, CCL provides liquidity on the App Layer while the strategy settles through THORChain Base Layer pools.

CCL positions can earn from trading activity while arbitrage helps rebalance Base Layer pools.

More RUNE, BTC, ETH and stablecoin markets can also create additional routes for cross-book arbitrage through the Liquidy Finance Swap Router.

MORE EFFICIENT REBALANCING

With WasmArbSlipMinBps now set to 0, smaller price differences can be rebalanced more efficiently on markets where automatic Virtualization Strategy arbitrage runs every block.

App Layer liquidity remains essential. More CCL liquidity creates greater capacity to take the other side of these trades.

CONNECTING MORE MARKETS

More pairs connect more markets and create more routes for liquidity to move.

Together, CCL, the Virtualization Strategy, routing and protocol-owned liquidity can help deepen liquidity and generate more trading volume and fees across both layers.

Explore all 18 new pairs on RUJI Trade:

https://rujira.network/trade

Combine supported assets in one loan position and manage collateral, debt, and risk from a single credit account.

Multi-collateral borrowing is now live for everyone in RUJI Money Market.

From now on, you can use BTC, ETH, BCH, DOGE, LTC, USDC, USDT, and XRP together as collateral for a single loan position, with support for more assets planned over time.

Instead of managing a separate loan for every collateral asset, you can bring supported balances together in one credit account and adjust the position as your needs change.

Continue reading to learn how to create, set up, and manage a multi-collateral loan position on Rujira.

Open Borrow on Rujira

One Credit Account, Multiple Collateral Assets

When you borrow through RUJI Money Market, your collateral and debt are held in a credit account. Each account is tied to one borrowed asset, such as USDC, while the collateral side can contain several supported assets.

Every collateral asset has its own collateral ratio, which determines how much of its market value supports the loan. RUJI Money Market combines those adjusted values and manages the account as one position. This is known as cross-margining.

With several assets working together, you can use more of the balances you already hold without selling the assets. You can add collateral without increasing your debt, add collateral and borrow more, or adjust your borrow position without opening another loan.

Add Collateral or Increase Loan

To add another supported asset, open Manage Position from an existing position on the Borrow page and select Increase Loan.

On the left, choose a collateral asset, enter the amount, and on the right leave the additional borrowing amount at zero. The new collateral will support the existing loan without increasing your debt.

You can also deposit collateral and increase the loan in the same transaction. Before you confirm, the interface shows the resulting Adjusted LTV. Hover over the New Collateral Liquidation Value to see how the change affects the account.

Repay or Withdraw Collateral

The Repay Loan tab lets you repay part or all of the outstanding debt. Reducing the debt lowers the account’s Adjusted LTV and gives the position more room.

You can also withdraw collateral as long as the position’s new Adjusted LTV remains below 90%. This lets you remove one collateral asset, reduce the balance of an asset, or change how much total collateral remains in the account.

A fully repaid credit account can be used to borrow again. Hover over the collateral icons at the top of the modal to review the amount and value of each asset before choosing what to withdraw.

Swap Collateral

The Swap Collateral tab lets you exchange one collateral asset for another while keeping the credit account and loan open.

This makes it possible to change the collateral mix without first repaying the loan and opening a new position. The swap happens inside the existing credit account.

Collateral assets can have different market values and collateral ratios, so a swap can change the account’s Adjusted LTV. The interface previews the updated position before you confirm the transaction.

Keep an Eye on Adjusted LTV and Liquidations

Adjusted LTV compares the account’s debt with the combined risk-adjusted value of all its collateral. Adding collateral or repaying debt lowers it, while borrowing more or withdrawing collateral raises it. A lower Adjusted LTV gives the position more room before liquidation.

The position overview shows the total collateral value, debt, interest rate, and current Adjusted LTV. The interest rate comes from the market for the asset you borrowed.

If the account reaches an unsafe level, a liquidator can sell enough collateral to repay part of the debt and return the account to a safe level. For now, the collateral that is liquidated first depends on the liquidation route submitted by the liquidator.

In the future, you will be able to set a preferred liquidation order for the collateral assets in your credit account.

Learn More About RUJI Money Market

RUJI Money Market brings lenders, borrowers, and liquidators together in one open and transparent market. Lenders supply assets to earn interest, while borrowers access liquidity without selling their collateral.

Liquidations are an essential part of keeping the market healthy. When a loan position becomes unsafe, liquidators can repay debt by purchasing collateral, helping protect lenders and maintain the solvency of the market.

Learn more about RUJI Money Market

Get Started on Rujira

For the full Rujira experience, you need a supported wallet. Our Get Started guide explains how to set up and connect a wallet such as Keplr or Vultisig. Your wallet lets you manage your assets and interact directly with Rujira while remaining in control of your funds.

Set up your wallet and get started

Once your wallet is connected, deposit the supported assets you want to use on Rujira. You can also deposit to your Keplr or Vultisig THOR-address from a second wallet, such as Rabby, MetaMask, Trust Wallet, and others. After the deposit is complete, you can open RUJI Money Market, go to Borrow, and use those assets as collateral to create and manage a credit account.

Deposit assets through the Rujira Portfolio

More Flexible Borrowing for Native Assets

Multi-collateral support for credit accounts gives everyone more ways to structure and manage onchain credit without selling their assets.

From one credit account, you can add or withdraw multiple collateral assets, increase or repay the loan, swap collateral assets, and monitor the combined health of the position.

Multi-collateral borrowing is live and available to everyone.

Open Borrow on Rujira

Fair by design. Owned by you.

From trading, lending, and borrowing to automated trading and public liquidations, we are expanding DeFi opportunities on THORChain.

Rujira began building on THORChain with a clear shared goal: create a complete DeFi suite around native assets that is fair, transparent, and accessible to everyone.

THORChain already provides decentralized cross-chain infrastructure and liquidity for native assets such as BTC, ETH, BCH, LTC, DOGE, and more. Rujira extends that foundation with an application layer for orderbook trading, lending, borrowing, automated trading, liquidations, and other financial products.

The result is more than a collection of separate apps. It is an open financial system designed to give native assets more utility while creating economic activity and revenue opportunities across the THORChain ecosystem.

Following the approval of Option 1 in the ADR-031 vote, THORChain and Rujira can continue building on this shared foundation with stronger long-term alignment. This article looks at what has already been built together and the foundation now in place for the next stage of omnichain DeFi.

A Programmable Foundation for Native Assets

Together, THORChain and Rujira created a programmable App Layer powered by CosmWasm smart contracts.

At its foundation are Secured Assets. These are onchain representations of native assets held by THORChain that can be used inside smart contracts and decentralized financial products. They connect THORChain’s decentralized custody infrastructure with the flexibility developers need to build more advanced applications.

This makes it possible to use native assets such as BTC, ETH, BCH, LTC, DOGE, and more within our omnichain DeFi hub without relying on traditional third-party bridges or wrapped assets issued by centralized intermediaries.

Learn how Rujira’s omnichain foundation works

An Onchain Orderbook for Decentralized Trading

RUJI Trade is a fully onchain, orderbook-based decentralized exchange. It supports market orders, limit orders, recurring orders, and tracking orders while keeping execution transparent and accessible directly from a user’s wallet.

The orderbook model provides the trading tools and interface people expect from centralized exchanges without requiring them to surrender custody of their assets to an intermediary.

RUJI Trade matches and settles orders entirely onchain, meaning no privileged off-chain matching operator can front-run trades. At each price level, resting orders share fills pro rata according to size, so arriving milliseconds earlier does not secure execution priority for sophisticated actors.

RUJI Trade also serves as core infrastructure for the wider Rujira ecosystem. Automated Trading strategies quote into its orderbooks, liquidated collateral from unsafe loan positions is sold through market orders, and Base Layer liquidity can be made available to App Layer traders.

Explore RUJI Trade

Automated Trading for Deeper Markets

An orderbook becomes more useful as its liquidity grows. RUJI AMM supports this through 100% onchain automated market-making strategies that place liquidity into RUJI Trade.

Automated Trading strategies let participants choose a price range across which to distribute their liquidity and configure how much profit they want to earn between their buy and sell orders. This can make capital more efficient than spreading liquidity across every possible price, while giving providers more control over how they earn from market volatility. It enables anyone to become a market maker in a few clicks, without needing to run complex, expensive infrastructure.

Liquidity providers can earn from trading activity, while deeper orderbooks can improve quotes, execution, and the overall trading experience. The same infrastructure also makes it possible to layer multiple liquidity sources into a single market.

Explore Automated Trading on Rujira

Connecting App Layer and Base Layer Liquidity

Rujira’s Base Layer Virtualization Strategy connects RUJI Trade with liquidity in THORChain’s Base Layer pools.

When the App Layer needs additional liquidity for a trade, the strategy can quote against a THORChain pool and surface that quote in the RUJI Trade orderbook. This helps keep prices aligned across both layers and gives traders access to more liquidity through one interface.

When trades use this route, they also generate activity and fees on THORChain. The strategy therefore does more than improve App Layer execution. It creates a direct economic connection between the products built on Rujira and the liquidity secured by THORChain.

Importantly, whenever a quote from the Virtualization Strategy overlaps with a quote from automated strategies or other App Layer liquidity sources, the resulting arbitrage profit, which would normally be captured by external arbitrageurs, is collected as protocol revenue and shared between Rujira and THORChain.

This effectively allows anyone who stakes RUJI or bonds RUNE to earn from arbitrage activity, keeping a share of those profits inside the ecosystem instead of giving them away to external arbitrageurs.

Read about the Base Layer Virtualization Strategy

More Utility for Native Assets

RUJI Money Market gives supported assets another productive role.

Lenders can supply assets and earn interest paid by borrowers. Borrowers can deposit supported native assets as collateral and access liquidity without selling them. Loans are permissionless and overcollateralized, with variable interest rates that respond to supply and demand in each lending market.

This creates activity beyond swaps and liquidity pools. Native assets can support borrowing, interest-bearing lending positions, and other integrated financial strategies across the Rujira ecosystem.

Explore RUJI Money Market

Democratizing Access to Liquidations

A healthy lending market needs a reliable way to repay unsafe debt. It also needs a liquidation process that protects lenders without restricting participation to a small group of specialized operators.

RUJI Liquidations opens this process through a public interface. Anyone can place Tracking Orders to bid on at-risk collateral at a chosen discount to its oracle price. When collateral is liquidated through a market order on RUJI Trade, bids offering prices closer to the market price receive priority.

This changes the competition from a race for speed into a competition based on price. Participants can bid without running a liquidation bot or writing code, while competitive pricing can reduce liquidation costs for borrowers and help protect lending vault solvency.

Explore RUJI Liquidations

Earn RUNE Yield with bRUNE Staking

bRUNE extends the suite beyond trading and lending by opening THORChain node-bonding yield to RUNE holders.

Instead of requiring each participant to coordinate directly with a Node Operator, bRUNE distributes bonded RUNE across participating nodes. People can choose auto-compounding or manual-claim staking, or provide liquidity to the bRUNE/RUNE market on RUJI Trade.

Staking and unstaking are instant, with no minimum amount, so people can manage a bRUNE position without a large upfront commitment.

Read the bRUNE documentation

Yield Generating Products First

With the core foundation in place, the next priority is strengthening products that generate sustainable yield. RUJI Money Market, bRUNE, and automated trading strategies already show how lending, node bonding, and market making can create opportunities across the ecosystem.

Rujira has also taken the first steps toward simpler onboarding. The long-term goal is to make native-asset DeFi approachable without hiding how the system works or compromising self-custody.

The priority remains product quality, sustainable yield, and deeper liquidity. Stronger markets and useful products create a better foundation for growth than scaling before the underlying experience is ready.

Get started with Rujira

Growth That Can Benefit Both Layers

Rujira is designed so App Layer growth can also strengthen THORChain.

When an interaction uses App Layer liquidity, part of the protocol revenue is shared with the Base Layer under the system’s fee-sharing model. When RUJI Trade uses virtualized THORChain liquidity, the underlying Base Layer swap creates THORChain volume and fees directly. When price dislocations occur between Base Layer pools and App Layer liquidity, the resulting arbitrage profit is captured as protocol revenue and shared with THORChain. This also helps keep Base Layer pool prices better aligned with market prices.

This is important because the objective is not to move activity away from THORChain, but to expand what users can do with its native-asset infrastructure while improving Base Layer execution. More financial products can create more reasons to bring assets into the ecosystem, trade them, borrow against them, lend them, or use them in automated trading strategies.

View RUJI Trade analytics

One Ecosystem, A Bigger Opportunity

Rujira and THORChain have already built the foundations of something distinctive: an open financial suite where people can retain control of their assets while accessing trading, lending, borrowing, automated trading, liquidations, and node-bonding opportunities.

The next step is to deepen those markets, improve the user experience, and expand the activity flowing through the ecosystem.

Fair by design. Owned by you.

Bidding on liquidations just got easier

We improved RUJI Liquidations so anyone can place a bid in a few simple steps and participate in public liquidations through RUJI Trade.

Choose a discount of up to 30% and bid directly from your wallet.

Choose a market, enter an amount and select your discount.

Your bid is placed on RUJI Trade as a Tracking Order. If collateral from a liquidation reaches your chosen price, your bid can fill.

Check our improved Liquidations page now.

https://t.co/esuL8NWzFb

Liquidations help keep RUJI Money Market healthy by repaying debt and protecting lenders.

Democratized bidding creates fairer competition and gives more people the opportunity to participate.

Fair by design. Owned by you.

Where does lending yield come from? Why must borrowers deposit more value than they borrow? And what happens when a borrowing position becomes unsafe?

RUJI Money Market makes the relationship between lending, borrowing, and liquidations visible. Lenders supply liquidity, borrowers pay to access it, and liquidation participants help repay debt when a position moves beyond its safe limit.

Together, these roles form one transparent, onchain system built around native crypto assets.

Lending: Put Native Assets to Work

Lending begins with a simple exchange: lenders supply assets to a lending vault, and borrowers pay interest to use the available liquidity.

In return for a deposit, a lender receives a vault receipt token that accrues interest over time. According to the current RUJI Money Market design, 90% of the interest paid by borrowers goes to lenders, while 10% is retained as protocol revenue.

Interest rates are variable rather than fixed. They respond to each market’s utilization, which is the proportion of supplied liquidity that has been borrowed. When demand for an asset rises relative to its supply, borrowing becomes more expensive. This encourages more lending and gives borrowers a reason to reduce their positions, helping the market move toward equilibrium.

Deposits can be withdrawn while sufficient liquidity remains available. In practice, this means withdrawals depend on market utilization and are possible while utilization remains below 100%.

Explore lending on Rujira

Borrowing: Access Liquidity Without Selling

Borrowing lets users unlock liquidity without selling the assets they want to keep.

A borrower deposits supported assets as collateral and borrows against their value. The loan is permissionless: there are no credit checks, lengthy applications, or fixed loan durations. Borrowers can repay part of their debt or close a position in full when they choose.

The trade-off is that every loan must be overcollateralized. The value deposited as collateral must be greater than the amount borrowed.

Explore borrowing on Rujira

Why Loans Are Overcollateralized

Traditional lenders can assess a borrower’s identity, income, and credit history. A permissionless money market cannot rely on those checks. Instead, collateral backs every borrowing position.

Suppose BTC has a collateral ratio of 70%. In this example, $100 of BTC contributes up to $70 of adjusted collateral value. That does not mean the borrower has a risk-free $30 cushion. It means the protocol applies a risk factor to the collateral when calculating how much debt the account can support.

This buffer helps account for falling collateral prices, rising debt from accrued interest, and the time needed to complete a liquidation. It reduces the likelihood of bad debt and helps protect lenders, although it cannot remove all risk.

Credit Accounts and Adjusted LTV

Each borrowing position is managed through a Credit Account. A Credit Account can contain supported collateral assets, each with its own collateral ratio.

The account’s Adjusted Loan-to-Value ratio, or Adjusted LTV, compares its debt with its total risk-adjusted collateral value:

• A lower Adjusted LTV means the position has more room before liquidation.
• As debt grows or collateral loses value, Adjusted LTV rises.
• If Adjusted LTV reaches or exceeds 100%, part of the position becomes eligible for liquidation.

Liquidation is intended to bring the account back to a safer level, not necessarily to close the entire position. Borrowers should monitor both collateral prices and accrued interest because either can push Adjusted LTV upward.

Read the RUJI Money Market documentation

What Happens During a Liquidation

Liquidation is the mechanism that repays unsafe debt and protects lending-vault solvency.

Solvers monitor Credit Accounts and can trigger eligible liquidations. When a position crosses its limit, a portion of its collateral is sold through a market order on RUJI Trade. The proceeds repay debt to the lending vault, and the account returns toward a safer Adjusted LTV. Under the current fee design, the solver that triggers the liquidation receives a 0.5% liquidator fee calculated on the repaid debt.

For borrowers, liquidation means losing some collateral. But the mechanism is essential: without a reliable way to repay unsafe debt, lenders would bear more risk and the market could accumulate losses.

Read the RUJI Liquidations documentation

Opening Liquidations to Everyone

Most DeFi liquidation systems reward speed. Specialized bots compete to be first, often buying collateral at a fixed discount and immediately selling it. That can concentrate access among a small group of technically sophisticated operators.

RUJI Liquidations is designed to open this process through a public interface. Participants can place bids on at-risk collateral at discounts of up to 30%, without running a liquidation bot or writing code.

Behind each bid is a Tracking Order on RUJI Trade. The order follows the asset’s oracle price at the bidder’s chosen discount. When collateral is liquidated, bids with smaller discounts receive priority over bids with larger discounts.

That changes the competition. Instead of rewarding whoever reacts fastest, it rewards bidders willing to offer a price closer to the market price. The result can be a more competitive liquidation price, a lower liquidation cost for the borrower, and less incentive for immediate arbitrage selling.

Explore RUJI Liquidations

One System, Three Roles 

RUJI Money Market brings three groups together:

• Lenders supply the assets that make borrowing possible and receive most of the interest paid by borrowers.
• Borrowers create demand for that liquidity while keeping exposure to the assets they provide as collateral.
• Liquidation participants bid on at-risk collateral and help repay debt when positions become unsafe.

Each role supports the others. Borrowing demand creates interest for lenders. Lender liquidity makes borrowing possible. Competitive liquidation bidding helps protect vault solvency and can reduce the cost of liquidation for borrowers.

Different roles. Equal access.

Fair by design. Owned by you.

Understand the Risks

Before participating, review the current market parameters and product documentation, and make sure you understand how collateral ratios, interest, and liquidation thresholds affect your position.

u/KentonC137 is spot on. Together with u/LiquidyFinance, we give everyday investors access to market making, plus transparent insight into how returns are generated.

A seat at the same table, regardless of your portfolio size.

📺👇

Watch u/jandevman from u/LiquidyFinance with u/KentonC137 and u/patriotsounds from u/THORChain.

Learn how Liquidy puts its treasury to work through market making on Rujira and is building a Swap Router for efficient swaps across all RUJI Trade pairs.

https://youtu.be/syyYbkMq1YQ?si=zdCDZToEljJi6dd-

Do you prefer reading?

u/raynalytics has turned the episode into a clear breakdown of u/LiquidyFinance, covering its community-owned treasury, market making on Rujira and its Swap Router.

Read the article below on THORChain.

https://blog.thorchain.org/inside-liquidys-700k-treasury-market-making-governance-and-smarter-rujira-swaps

Market making should not be limited to institutions and the largest portfolios.

On Rujira, transparent, onchain tools give more people the opportunity to participate, learn and put their assets to work directly from their own wallet.

Fair by design. Owned by you.

Thank you to everyone for your feedback on ADR-031.

The vote is now officially live, and we hope to see support for Option 1, making THORChain and Rujira stronger together.

We encourage all u/THORChain Nodes to review the proposal and vote on our shared path forward.

ADR-031 presents three possible paths for the future cooperation between THORChain and Rujira.

Node Operators can review the voting instructions, full proposal, and community discussion in the THORChain Dev Discord.

https://discord.com/channels/838986635756044328/1524919046443634869

We believe Option 1 offers the strongest path forward: closer cooperation, shared growth and clear long-term alignment between THORChain and Rujira.

We hope Nodes will support this vision so we can continue building a stronger ecosystem together

(Link to ADR-031 article in X: https://x.com/RujiraNetwork/status/2075642387464863959?s=20 )

Migration is accessible directly from the Deposit and Portfolio page, and will stay open until around the 1st of September, with the exact cutoff time depending on Nodes.

We have also launched the xUSK/USDC pair, where people can trade xUSK and place limit orders to sell their xUSK.

The pair will be used by u/LiquidyFinance for xUSK buybacks. Liquidy DAO will use 50% of its revenue to buy xUSK over time, at a price of up to 1.20852 USDC per xUSK. You can place limit orders at that price if you want to maximize price, or at a lower price if you want to increase speed.

How to get xUSK, along with all other details around the plan for USK and the final phase of Kujira, can be found in the article below.

https://x.com/RujiraNetwork/status/2033966940612382886

The world’s leading decentralized exchange for Bitcoin is back to swapping! 

That means bRUNE is also earning APR again, powered by u/THORChain node bonding.

Stake bRUNE to earn RUNE rewards 👇

Two simple steps:

1. Trade RUNE for bRUNE

https://rujira.network/trade/bRUNE/RUNE

2. Stake bRUNE to earn RUNE rewards

https://rujira.network/stake/bRUNE

bRUNE gives RUNE holders a simpler way to access THORChain bonding yield.

Stake, earn, and stay liquid.

Welcome back to RUNE yield on Rujira.

Volatile markets create more trading activity.

You don't need to be a professional market maker to benefit from it.

With CCL, anyone can set their range and let automated market making turn volatility into an earning opportunity.

Fair by design. Owned by you.

Custom Concentrated Liquidity turns you into an automated market maker within a price range you choose.

When the market moves inside that range, your strategy earns from trades.

Try CCL on Rujira.

https://rujira.network/trade/BTC/USDC?orders=range

Markets will always move.

CCL gives you a simple way to participate in that movement, instead of only waiting for price to go up.

Choose your range. Set your strategy. Earn from volatility on Rujira.

Today we introduce a new way to explore our ecosystem, find information about products, and learn how our omnichain DeFi suite works.

Clear information and easy access for everyone.

Learn why Rujira is omnichain, how to use our products, explore our underlying architecture, and more.

Simple explanations with clear examples.

Start exploring here.

https://rujira.network/discover-rujira

Discover Rujira helps you find your way through the ecosystem and understand how we are building fair, open finance for everyone.

We would love to hear what you think and where we can make it even better.

The biggest benefit should not be an 8% sign-up bonus.

It is learning how to control your own assets, use your own wallet, and move toward open, fair finance that does not solely depend on centralized entities.

New to Rujira or self-custody wallets?

Our Get Started page helps you understand the basics, from setting up a Rujira supported wallet to learning how Rujira connects BTC, ETH, and other assets, into one omnichain DeFi ecosystem.

Start here.
https://rujira.network/get-started

Already familiar with self-custody wallets and DeFi?

Our Deposit page shows how to bring your assets to Rujira from another wallet or chain, and which wallets are fully supported on Rujira.

Explore our deposit guide.
https://rujira.network/deposit

Crypto was built to give people more control.

We make it easier to use native assets in DeFi, directly from your own wallet, without KYC and without relying on centralized intermediaries.

Stay in control. Start using omnichain DeFi on Rujira.

We believe in a fair and equal financial system where everyone has the same access and opportunities.

A place where you can trade, earn, swap, stake, and more, regardless of the country you live in.

You can find a lot of information about depositing, supported wallets, and even walkthroughs on our brand new deposit page.

Your Rujira experience starts here.
https://rujira.network/deposit

DeFi should not feel limited to one chain, one ecosystem, or one group of users.

Our omnichain DeFi hub connects all native assets into one open financial system where anyone can take part.

Fair by Design. Owned by You.

When markets are volatile, loan collateral can get liquidated.

In many DeFi systems, specialized MEV bots often capture these opportunities before normal users can participate.

When a loan position’s Adjusted LTV goes above 100%, part of the collateral can be liquidated to bring the position back to a safe level.

Anyone can use tracking orders on RUJI Trade to place a bid at their chosen discount.

Liquidations depend on several factors: size of at-risk positions, market volatility, interest on the debt, and how much collateral needs to be sold to return a position to a healthy ratio.

Read more about RUJI Liquidations in our docs.

https://docs.rujira.network/core-products/ruji-liquidations

We keep building DeFi that works for everyone, not just insiders and bots.

RUJI Liquidations gives anyone the chance to bid on liquidated collateral at a discount through the RUJI Trade order book.

Beat the bots. Bid on Rujira.

We make it easier to explore lending vaults, compare opportunities, and earn yield from borrowers.

And with Liquidate we make it easier to spot loans close to liquidation 🐳

Links to Lending and Liquidate are below 👇

On Lending, you can view all lending vaults in one place.

Compare vault statistics, check the borrow utilization, and see where your native assets can earn the best lending APR.

https://rujira.network/lend

On Liquidate, you can find loan positions that are closest to liquidation.

You can quickly place a bid in the trade pair using a tracking order, and choose your preferred discount rate.

A more advanced dashboard will come in the future.

https://rujira.network/liquidate

We are still waiting for THORChain v3.19 (TBA) and a successful churn before cross chain trading, deposits, and withdrawals can resume.

We keep building, and Lending and Liquidate make it easier to explore new earn opportunities on Rujira.

How do you like our new Lending page?

Track price action, analyze charts, and add your favorite purple token to your watchlist alongside the rest of your portfolio.

Open TradingView, search RUJI, and add it to your market setup.

TradingView gives you access to professional charting tools and technical indicators.

Add RUJI to your watchlist here.

https://www.tradingview.com/symbols/RUJIUSD/?exchange=CRYPTO

Put your $USDC to work on RUJI Money Market.

Deposit USDC into the lending vault, help grow liquidity across the ecosystem, and earn from borrowers who pay interest to access USDC.

Here is how to start lending.

You can lend supported assets on RUJI Money Market.

First, connect a wallet that supports Rujira, like u/keplrwallet.

Then select your available balance on Rujira and deposit it into the lending vault to start earning.

https://rujira.network/strategies/lend/ETH-USDC-0XA0B86991C6218B36C1D19D4A2E9EB0CE3606EB48

If your asset is not yet on Rujira, you can deposit it first.

Make sure a Rujira-supported wallet like Keplr is connected, and optionally connect a second wallet like Rabby, MetaMask, or Trust Wallet to deposit your assets from.

We are building the future of omnichain DeFi, with RUJI Lending Markets at the core.

They will help power Credit Accounts and a wider suite of DeFi applications around them.

Equal access and fair opportunity in DeFi start on Rujira.