News list for "kujira"
The Kujira team wrote on the X platform to elaborate on the recent liquidity crisis and market panic. The team said that it had decided to use some of the working capital for the liquidity and activity promotion of the ecosystem, which was considered reasonable at the time. However, a series of subsequent events, including security bugs and social engineering attacks, led to instability in the market. Some "influencers" on social media mistakenly portrayed the situation as...
The price of Kujira tokens fell by 40% today, from $0.97 to $0.57, due to the liquidation of the Kujira Foundation's operational wallet. The foundation has taken on leveraged liquidity provision positions worth millions of dollars, but failed to properly manage them on its own DeFi platform. The team claimed in a statement that the working funds using the leveraged positions were intended to increase liquidity and stimulate activity on its DEX. The reason why the liquidation took place was due t...
