Education
The Merge is now live, allowing users to convert $KUJI, $rKUJI, $FUZN, $WINK, $NSTK, and $LVN into $RUJI, marking a major step forward for the Rujira ecosystem.
Team Rujira
4
min read
·
Apr 4, 2025
Note 1: We have identified an issue with merging $NSTK tokens and have temporarily disabled it. It will require a THORChain upgrade before deposits will succeed, please do not attempt it until further notice. Users who have already tried to merge their $NSTK will be fully compensated. We will update the community as soon as we have an update.
Note 2: An issue has been reported with the CTRL Wallet, where users see a "can't estimate fee" message. We are actively working on a fix. In the meantime, you can use Keplr or Leap Wallet to proceed with the Merge.
Note 3: Vultisig is currently not supported for the Merge as it only supports EVM chains for now. We are collaborating with the Vultisig team to enable this soon and users will be able to merge their tokens at a later stage. If you would like to merge now, please use Keplr or Leap Wallet.
⚡️The Merge is Officially Live!
After months of building, we are thrilled to open up the Merge, allowing our community to migrate their $KUJI, $rKUJI, $FUZN, $WINK, $NSTK, and $LVN. This is a major milestone that kick-starts the Rujira season, and we can’t wait to launch our RUJI products in the coming months.
The market has been tough for many investors, and our journey to revolutionize DeFi has come with its fair share of challenges. We are incredibly grateful for our strong and loyal community for joining us on this journey and sharing our vision. With RUJI Trade and Pools nearing completion, this vision will soon become a reality, bringing the first true omnichain experience, one that rivals the user experience of a Binance and Coinbase.
Table of Contents
⚡The Merge is Created and Accessible for Everyone
While the Merge itself consists of just three actions, the process can be challenging depending on a few factors: your familiarity with on-chain transactions, the device you are using, having the right wallet, and ensuring you have the necessary assets to cover gas fees.
To make the process as accessible as possible, we have created step-by-step guides for every type of user. Whether you are using a centralized exchange, Sonar, or are a crypto native user, you’ll find a dedicated guide tailored to your needs. You can access the steps, including videos, here:
⚡The Merge process
The Merge has a relatively straightforward flow. It will differ slightly depending on what asset(s) you are migrating and where you are migrating them from. As part of the process, you will need $ATOM to pay gas on the Cosmos Hub and $RUNE to pay gas fees on Thorchain.
The steps are:
(For users on centralized exchanges) Import or set up a new wallet
IBC your merge asset to the Cosmos Hub
Deposit your merge asset on THORChain
Convert your merge asset to $RUJI on THORChain.
Once you have completed this final step, you are all set! You will be able to claim your $RUJI tokens on the day of TGE, which will be announced at a later date.
Note: Merging your tokens into $RUJI is irreversible, as your tokens will be burned. You won’t be able to claim your $RUJI until TGE, so please ensure you are comfortable with this before completing the Merge process.
⚡️Details around the Merge:
How Many $RUJI Will I Get?
The amount of $RUJI you will receive depends on both the number and type of tokens you deposit, and the number and timing of other participants’ deposits. The conversion rates for the different tokens are shown in the image below. For the calculation tool or for more details about the rates, visit: https://kujira.network/merge
Bonding Curve and Decay
Starting from the April 5th users will have 12 months to convert their tokens to $RUJI. During the first four weeks, you will get 100% of the conversion rate. After this period, the rate will gradually decrease on a linear scale, reaching 0% by the end of the 12-month window.
Users who have their $KUJI or other merged tokens staked should begin the unstaking process as soon as possible. Since unstaking takes 14 days, starting now ensures that tokens will be liquid before the end of the first four weeks. Make sure your tokens are fully unstaked and deposited into the Merge contract by May 5th to benefit from the full conversion ratio.
Note: Users who will deposit their tokens into the Merge contract, won’t be able to claim RUJI just yet. Users will be able to claim their RUJI after the Token Generation Event (TGE), which will be announced at a later date.
Bonus Tokens
When tokens are converted or exchanged at a rate lower than 1:1, a surplus of $RUJI will accumulate. These excess tokens will be periodically distributed as rewards to users who keep their $RUJI deposited in the Merge contact.
The amount of rewards accrued depends on when a user initiates the conversion and how long they wait before withdrawing. Rewards accumulate until the moment of withdrawal.
Users can (partially) withdraw both their converted and reward tokens at any time without an unbonding period. However, once withdrawn, tokens cannot be deposited again in the Merge contract to earn additional rewards.
Each merging token, including $rKUJI, will have its own separate Bonus Token pool and distribution. For example, any $RUJI from unconverted $FUZN will be distributed among the locked $RUJI that was reserved for $FUZN conversions.
Staked $KUJI or Other Merge Tokens
Users who have their $KUJI or other merged tokens staked should begin the unstaking process as soon as possible. Since unstaking takes 14 days, starting now ensures that tokens will be liquid before the end of the four week decay period.
Kujira users can unstake their $KUJI here. Be sure to check both deactivating and inactive validators, as some have stopped validating due to the migration.
For users who have staked one of the other Merge tokens, please follow the unstaking process specific to your respective project:
Staked and vested $LVN are automatically unlocked on February 16th and available for claiming.
$FUZN can be unstaked from here (unstaking period: 14 days for yFUZN + 7 days for $FUZN)
$NSTK can be unstaked from here (unstaking period: 14 days)
$WINK can be unstaked from here (unstaking period: 14 days)
What Will Happen with USK?
USK is going to wind down and the 1% interest rate will increase gradually to incentivize paying off the debt. The wind down process won’t start before RUJI Lending is live on the App Layer, so that users will have an alternative option to borrow.
What Will Happen to the Kujira Network once we Migrate?
The Kujira network will stay active until at least a full year after the Merge. During that period, all of the apps will continue to function normally, but all debt products (Ghost loans, USK minting) have been set to repayment only, users cannot take on new debt. What happens after that will be up to any remaining KUJI stakers, assuming validators continue to run the network.
⚡️Questions and Help
We understand that some parts of the Merge are difficult, and that issues can arise. If you need support with the Merge, please join our official Telegram chat (https://t.me/Rujira_Community) and we will help you with any question you have. In our official Telegram chat, make sure to only interact with team members and admins (with a tag in their name), and never answer to any DM's. None of the team members and admins will DM you first, so anyone who does is most likely a scammer.
We also want to emphasize that all official updates, links, and announcements will come exclusively from the official Rujira X account. Any other sources claiming to provide guidance, links, or assistance are most likely scams. We urge you to stay vigilant and avoid engaging with unverified actors.
