Rujira Network Unveils THORChain App Layer with Native BTC DeFi Capabilities, Targets Stablecoin Fragmentation

Rujira Network has launched as the dedicated App Layer for THORChain, aiming to revolutionize decentralized finance (DeFi) by enabling native Bitcoin (BTC) functionality without the need for bridges or wrapped assets. The platform introduces a suite of advanced DeFi tools, including orderbook trading with margin for real BTC, a BTC-backed stablecoin, and cross-chain Orbital Pools designed to address stablecoin fragmentation. This strategic development positions Rujira to leverage THORChain's robust liquidity and cross-chain capabilities, offering a unified and decentralized experience for native asset users.

The initiative, detailed by Messari, highlights Rujira Network's core products, which include a 100% orderbook DEX for spot and margin trading, a multi-strategy AMM, perpetuals, and a liquidation engine. A key feature is the upcoming BTC-backed stablecoin, which will be overcollateralized and secured by native BTC locked in THORChain’s Threshold Signature Scheme (TSS) vaults. This approach seeks to provide a censorship-resistant stablecoin, offering Bitcoin holders the ability to extract liquidity without selling their assets.

Messari, in a deep dive, further explained the project's ambition to solve cross-chain stablecoin fragmentation through Orbital Pools. These pools are designed to facilitate low-slippage swaps between stablecoins across various chains by combining multiple stablecoins into a single, capital-efficient pool. This infrastructure aims to provide seamless, trustless cross-chain stablecoin swaps, eliminating reliance on third-party bridges or synthetic assets.

The Rujira Network emerged from a strategic alliance, known as the Rujira Alliance, formed by a merger between the DeFi project Kujira and several ecosystem partners. This consolidation was partly driven by Kujira's previous liquidity challenges, with THORChain founder John-Paul Thorbjornsen taking a lead role in the new entity. The RUJI token, central to the ecosystem, is designed with a fixed supply and no inflation, distributing all protocol revenue, paid in USDC, to stakers, aligning incentives with platform usage.

This integration with THORChain's approximately $150 million liquidity layer is expected to provide Rujira's DeFi products with deep, efficient markets from inception. The network's focus on native assets, combined with its comprehensive product suite and robust tokenomics, aims to establish Rujira as a significant player in the evolving landscape of decentralized finance, particularly for Bitcoin holders seeking trustless DeFi opportunities.