Demex Daily #237: Kujira Joins Rujira Alliance to Build THORChain's DeFi Layer

What’s Interesting Today:

DeFi network Kujira has merged with three key ecosystem partners to form the "Rujira Alliance," which will build a new application layer for THORChain, a cross-chain liquidity protocol. This new app layer, backed by the RUJI token, will offer various DeFi services like order books, perpetuals, NFTs, and lending, integrated with eight chains. THORChain founder JP.THOR believes the project could rival Solana. The merge won't affect Kujira's native KUJI token or blockchain, and participation in RUJI is voluntary. THORChain's RUNE token rallied following the announcement.

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Venmo and PayPal have integrated Ethereum Name Service (ENS), enabling users to send cryptocurrency using simple ENS names rather than lengthy wallet addresses. Announced by ENS Labs on September 10, this integration will make transactions easier for over 270 million users in the U.S., minimizing errors and simplifying the process. ENS names act as easy-to-remember identifiers for blockchain addresses. PayPal, which has also launched its stablecoin PYUSD on Solana, benefits from this update as it expands its crypto offerings. ENS Labs is also advancing its protocol with a move to a layer-2 network and is currently challenging a patent from Unstoppable Domains.

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