Rujira Weekly Recap 50: What’s New in Omnichain DeFi

⚡️Credit accounts and CDP loans live
One of the most important updates for Rujira has started to roll out, bringing credit accounts, CDP loans, and liquidations to Rujira!

We will start things slow and do a phased rollout with $BTC, $ETH, $XRP, $BCH, $USDC, and $USDT live first and a borrow cap of around $10k on these assets. After the bug bounty competition, and once we are confident about the performance and safety, we will relax caps and add more assets.

You can now borrow against native Bitcoin and other native assets connected to THORChain, without 3rd party bridges or wrapping by centralised intermediaries. Come try it out:

⚡️RUJI Trade v1.1 is coming
Together with the Credit Accounts update, the code for RUJI Trade v1.1 was also stored onchain and will roll out soon once we have processed the most important feedback for Borrow and Omnichain.

A good overview of what RUJI Trade v1.1 includes is described by Pragmatic Monkey below.

⚡️Bug bounty competition
We already have a continuous bug bounty program running with Code4rena, and a new time-bounded bug bounty competition will soon go live for Credit Accounts and Lending Vaults, for a duration of 1 month.

The competition is in addition to the audit completed earlier this month by Halborn. Lending Vaults and Credit Accounts are critical components of the Rujira ecosystem and this competition will allow us to attract many security researchers’ eyes in a short period of time to stress-test the system. Anyone can participate and help make Rujira safer while also earning a nice reward ($40k prize pot).

Once the competition is completed, we can start the next phase of the CDP loans and Lending Vaults rollout.

⚡️Vultisig x Rujira
We keep making big improvements to onboarding, and what Hans has been working on the past days is going to be huge!

Thanks to Vultisig, we are close to launching an in-app wallet where you can register with your email address, from your favorite browser. No more private keys, no more extensions.

A major UX upgrade is coming soon to help onboard a wider audience.

⚡️Dashboard Community member
While we are still working on RUJI Analytics, one of our amazing community members rolled out a dashboard where you can track how much has been lent and borrowed.

Check it out here:

⚡️THORChain v3.14 live
The latest update of THORChain is live and brings improvements across the board. This update is mostly focused at improving performance and stability of the swaps, and the whole system and a short description can be found below.

⚡️Privacy Layer getting closer
Redacted is making strong progress and shared a short demo during our team meeting earlier this week. The focus so far has been on deposits into your private account. The next step is integrating privacy with our products, starting with RUJI Swap and RUJI Trade.

Privacy season with native assets on Rujira is coming, and it’s going to be mind blowing.

⚡️Borrow notifications
The CDP loans have only been live for a short time, and the NotifyU team has already shipped notifications for your borrow positions. Get a message when your position is close to liquidation so you can take action and keep your collateral safe!

Link to join down below.

⚡️RUJI Lending Spaces
With the release of Credit Accounts and CDP loans, we hosted a quick Spaces session where we walked through what this update means for you, how it works and why it is so important for everyone to have access to fair, decentralized and transparent loans.

Catch the recording here: