<h4><strong>The plan involves several critical steps designed to stabilize the platform and position it for future growth.</strong></h4>
<p>First, the recovery plan focuses on repaying the operational debt through two distinct PILOT sales. The first sale is targeted at clearing the $USDC debt, while the second will address the $USK debt. This dual approach will not only resolve the existing liabilities. Also, it helps in converting the BOW leverage liquidity positions into protocol-owned liquidity, enhancing the platform’s financial stability.</p>
<h5><strong>Steps to Resolve Debt and Improve Stability</strong></h5>
<p>Another significant aspect of this recovery strategy is the opportunity it provides for community members. The PILOT sales will accept bids in both $USDC or $xUSDC for the first sale, and $USK or $xUSK for the second sale. This setup allows participants with funds locked in the GHOST lend vaults to use their xAssets to bid, making the process more inclusive and providing broader engagement opportunities.</p>
<p><img decoding="async" class="wp-image-147376 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/cvbfghgfhjgy-223x300.png" alt="" width="431" height="580" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/cvbfghgfhjgy-223x300.png 223w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/cvbfghgfhjgy-313x420.png 313w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/cvbfghgfhjgy.png 393w" sizes="(max-width: 431px) 100vw, 431px"></p>
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/teamkujira/status/1819717451350777870?s=43" target="_blank" rel="noopener noreferrer nofollow">X</a></strong></h6>
<p>Bidders will be vying for $rKUJI (recovery KUJI) tokens through the PILOT sales. These $rKUJI tokens will be redeemable 1:1 for $KUJI once the necessary balance is freed from collateral and undelegated. This mechanism is designed to ensure that participants who contribute to the recovery effort are compensated with tokens that will have future value as the platform stabilizes.</p>
<p>Details regarding the specific terms of the PILOT sales, including the cliff, vesting schedules, base price, and maximum discount, are still being finalized. The Kujira team has committed to providing further information on these aspects and the overall timing of the recovery process shortly. Here are more info about the recovery plan:</p>
<p><img decoding="async" class="wp-image-147377 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vcxgfhjhgu-209x300.png" alt="" width="423" height="607" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vcxgfhjhgu-209x300.png 209w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vcxgfhjhgu-293x420.png 293w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vcxgfhjhgu.png 393w" sizes="(max-width: 423px) 100vw, 423px"></p>
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/teamkujira/status/1819717451350777870?s=43" target="_blank" rel="noopener noreferrer nofollow">X</a></strong></h6>
<p>Additionally, the recovery plan includes significant structural changes within Kujira. These changes will necessitate further discussions and votes from the community. To manage the treasury and ensure transparency, a trusted committee—separate from the founding team—will be established. This committee will likely employ <a href="https://x.com/DA0_DA0" target="_blank" rel="noopener noreferrer nofollow">DA0 DA0</a> tooling for multisig wallets and other essential features to enhance governance and security.</p>
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener noreferrer nofollow"><img decoding="async" class="alignnone wp-image-123700 size-full" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg" sizes="(max-width: 1197px) 100vw, 1197px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg 1197w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1068x132.jpg 1068w" alt="" width="1197" height="148"></a></p>
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<h6><strong>Disclaimer</strong></h6>
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p>
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/kujiras-recovery-plan-debt-repayment-and-future-changes/" rel="noopener noreferrer nofollow">Kujira’s Recovery Plan: Debt Repayment and Future Changes</a> appeared first on <a href="https://www.altcoinbuzz.io" rel="noopener noreferrer nofollow">Altcoin Buzz</a>.</p>

Kujira’s Recovery Plan: Debt Repayment and Future Changes

Altcoin Buzz

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