December 10, 2024
Rujira, a decentralized finance (DeFi) project, has successfully raised $7 million from a group of early investors following the announcement of its merger. This new funding positions Rujira well for its strategic goals, with plans to execute its next phase of development without the need for additional capital in the immediate term. Should the need arise in the future, the company is positioned to secure further funding through over-the-counter (OTC) deals, supporting continued growth and innovation.
The completion of this funding round is a significant milestone for Rujira, particularly as it prepares for the upcoming Token Generation Event (TGE) for its RUJI token. Scheduled for February 2024, the TGE is now one step closer to realization, though the timeline remains subject to potential adjustments. This event marks a critical point in Rujira’s roadmap as it aims to expand its platform and reach within the DeFi space.
In addition to the fundraising, THORChain, a core part of Rujira's ecosystem, is set to launch its v3.0 upgrade on December 12, 2024. The upgrade includes a new version of Cosmos, enabling features such as CosmWasm smart contracts and gRPC connections. These enhancements will facilitate the development of RUJI Swap, Rujira’s user interface for THORChain, aimed at simplifying decentralized asset swaps with affiliate fees.
Rujira's ongoing efforts also include a series of important updates to THORChain nodes. Among these is the introduction of the Token Factory and Token Switch Handler, which will allow existing Kujira native tokens to migrate to THORChain’s App Layer. This feature will provide greater interoperability and flexibility within the ecosystem, supporting token migration through governance processes.
About Rujira
Rujira is a DeFi platform that integrates decentralized financial tools into a unified, cross-chain ecosystem. Leveraging the capabilities of Kujira and THORChain, Rujira provides decentralized financial services focused on security, transparency, and accessibility, contributing to the growth of a decentralized economy.
Website: https://rujira.network/
X: @RujiraNetwork
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