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Record sog_st_usk
USK/Kujira USK
Also recorded as USK, Kujira USK
- Lifecycle
- Restricted
- Issuance
- Unknown
- Reference target
- US dollar
- Primary organization
- KujiraNo additional recorded relationship
- Launch
- 2022-09-12
- Redemption
- Protocol Redemption
- Backing
- Crypto-collateralized
- Stabilization
- Overcollateralized vault
- Last review
- 2026-06-25
- Evidence
- 7 source records
Reviewed assessment
Identity and current state
This summary reports reviewed facts and uncertainty. It is not a rating or recommendation.Kujira overcollateralized USD stablecoin launched on September 12, 2022, now in an orderly repayment-only wind-down during the Rujira transition.
| Name | Kujira USK |
|---|---|
| Symbol | USK |
| Aliases | USK, Kujira USK |
| Asset class | Stablecoin |
| Lifecycle status | Restricted |
| Issuance status | Unknown |
| Canonical record ID | sog_st_usk |
| Route slug | usk |
| Record confidence | High |
| Last reviewed | 2026-06-25 |
- Name
- Kujira USK
- Symbol
- USK
- Aliases
- USK, Kujira USK
- Asset class
- Stablecoin
- Lifecycle status
- Restricted
- Issuance status
- Unknown
- Canonical record ID
sog_st_usk- Route slug
usk- Record confidence
- High
- Last reviewed
- 2026-06-25
Record coverage
| Section | Entries |
|---|---|
| Organizations | 1 |
| Sources | 7 |
| Reserve reports | 1 |
| Reserve components | 1 |
| Model-history events | 2 |
| Regulatory notes | 0 |
| Deployments | 1 |
| Issuer-control actions | 0 |
| Open questions | 2 |
| Events | 3 |
Primary display is a navigation and summary choice only. It does not replace other organizations or imply sole legal responsibility, operational control, reserve custody, or historical continuity.
- Governance
- DAO Governed
- Primary display organization
- Kujira
- Primary display role
- Protocol operator
- Display selection mode
- Deterministic Policy
- Current relationships
- 0
- Ended relationships
- 0
- Unknown relationship state
- 1
- Freeze capability
- 0 recorded yes · 0 recorded no · 1 not recorded
- Blacklist capability
- 0 recorded yes · 0 recorded no · 1 not recorded
- Deployment control-event references
- 2
- Observed issuer-control events
- 0
- Relationship coverage
- 1 recorded relationship
| Organization | Organization category | Regulatory character | Jurisdiction | Role | Display priority | From | Until | Relationship status |
|---|---|---|---|---|---|---|---|---|
| Kujira | Network or ecosystem | Protocol or decentralized system | Decentralized | Protocol operator | Primary display | Not yet recorded | Not yet recorded | Unknown relationship state |
Network or ecosystem
Primary displayKujira
- Functional role
- Protocol operator
- Relationship status
- Unknown relationship state
- Regulatory character
- Protocol or decentralized system
- Jurisdiction
- Decentralized
- From
- Not recorded
- Until
- Not recorded
Mechanism
How the asset works
Reference, backing, stabilization, exit, valuation, and yield remain separate facts.- Reference target
- US dollar
- Reference kind
- Fiat
- Comparison category
- US dollar
- Target value
- 1
- Reference methodology
- USK is designed as a soft-pegged overcollateralized U.S.-dollar stablecoin; current unrestricted mint availability remains unresolved.
- Public backing model
- Crypto-collateralized
- Canonical backing types
- Crypto Collateral
- Reserve component categories
- Crypto Collateral
- Primary stabilization mechanism
- Overcollateralized vault
- Recorded model description
- Overcollateralized Cosmos Vaults
- Redemption / exit model
- Protocol Redemption
- Valuation source
- Kujira USK technical documentation
- Yield / rebase profile
- No recorded change · Accrual: No recorded change
- Classification notes
- Limited-status protocol stablecoin: design and historical mechanics are documented, but current unrestricted minting and successor operation are not fully verified.
Reserve and redemption
Reserve and redemption
Recorded components, disclosures, reports, and redemption conditions remain explicit.Reserve components
- Multiple crypto collateral vaults documented by KujiraCrypto Collateral
| Disclosure status | Unknown after review |
|---|---|
| Backing types | Crypto Collateral |
| Summary | USK was designed as an overcollateralized stablecoin backed by multiple crypto collateral vaults with a documented minimum collateralization ratio of 166 percent. |
| As of | 2026-06-15 |
| Profile confidence | Medium |
- Disclosure status
- Unknown after review
- Backing types
- Crypto Collateral
- Summary
- USK was designed as an overcollateralized stablecoin backed by multiple crypto collateral vaults with a documented minimum collateralization ratio of 166 percent.
- As of
- 2026-06-15
- Profile confidence
- Medium
| Current status | Restricted |
|---|---|
| Settlement asset | Collateral release through debt repayment where supported contracts and interfaces remain operational |
| Eligible parties | Existing vault users and market participants subject to current Kujira-chain, interface, and liquidity availability. |
| Retail access | Availability Dependent |
| Institutional access | Availability Dependent |
| Minimum amount | Protocol and transaction dependent. |
| Fee | Documented mint, stability, liquidation, and network fees may apply where functionality remains available. |
| Settlement time | Current chain, contract, and interface availability dependent. |
| Regional limits | Current unrestricted mint access is not confirmed., Successor-ecosystem and front-end restrictions may apply. |
- Current status
- Restricted
- Settlement asset
- Collateral release through debt repayment where supported contracts and interfaces remain operational
- Eligible parties
- Existing vault users and market participants subject to current Kujira-chain, interface, and liquidity availability.
- Retail access
- Availability Dependent
- Institutional access
- Availability Dependent
- Minimum amount
- Protocol and transaction dependent.
- Fee
- Documented mint, stability, liquidation, and network fees may apply where functionality remains available.
- Settlement time
- Current chain, contract, and interface availability dependent.
- Regional limits
- Current unrestricted mint access is not confirmed., Successor-ecosystem and front-end restrictions may apply.
| Date | Publisher | Type | Assets covered | Record confidence |
|---|---|---|---|---|
| Not yet recorded | Kujira | Onchain Protocol Transparency | Crypto Collateral | Medium |
Kujira
Not yet recorded- Type
- Onchain Protocol Transparency
- Assets covered
- Crypto Collateral
- Record confidence
- Medium
Deployments and legal context
Deployments and legal context
Network state, contract identity, legal notices, and value states remain separate.| Network | Network record state | Standard | Public deployment category | Canonical deployment type | Operational state | Recorded status | Change or proposal state | Canonicality | Canonicality record state | Verification state | Contract identity state | Contract or identifier | Freeze | Blacklist | Control events | Notes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Kujira | Specific network recorded | Cosmos SDK token | Protocol-native or protocol-supported deployment | Protocol Native Token | Restricted | Restricted | No separate change state recorded | Native deployment | Canonicality recorded | Source-linked record; identifier not recorded | Identifier not recorded | Identifier not recorded | Not yet recorded | Not yet recorded | 2 | Native Kujira USK deployment launched on 2022-09-12. New debt and USK minting are disabled during the Rujira transition, while existing positions remain repayable. The final network and terminal boundary is unresolved. |
| Date | Title | Authority / publisher | Type | Summary |
|---|---|---|---|---|
| No regulatory notes have been added yet. | ||||
No regulatory notes have been added yet.
Evidence
Evidence
Publisher, provenance, supported claims, archive state, reliability, and publication date remain separate.| Source | Publisher | Source category | Provenance | Primary or secondary | Supported claims | Archive | Reliability |
|---|---|---|---|---|---|---|---|
| Kujira USK overview Published Not yet recorded | Kujira | Official documentation or product page Canonical: Official Documentation | Subject-controlled source | Primary source | Entity Identity, Overcollateralization, Collateral Types, Kujira Native, Entity and Collateral Model | Archive index or wildcard | High |
| USK technical specifics Published Not yet recorded | Kujira | Official documentation or product page Canonical: Official Documentation | Subject-controlled source | Primary source | Cdp Minting, Minimum Collateralization, Burning, Liquidation, Stability Fee, Minting Liquidation and Backing | Archive index or wildcard | High |
| USK transparency documentation Published Not yet recorded | Kujira | Official documentation or product page Canonical: Official Documentation | Subject-controlled source | Primary source | Collateral Dashboard, Mint and Burn Tracking, Liquidation Backstop, Collateral and Mint Transparency | Archive index or wildcard | High |
| Kujira USK stablecoin launch: Kickstarting grown-up DeFi Published 2022-08-08 | Team Kujira | Official statement or announcement Canonical: Official Blog | Subject-controlled source | Primary source | Announcement, Minting Design, Collateral, Liquidation Design, Product Design and Planned Launch | Archive index or wildcard | High |
| What to Expect When USK Launches Published 2022-09-10 | Team Kujira | Official statement or announcement Canonical: Official Blog | Subject-controlled source | Primary source | Prelaunch, Planned Availability, Initial Collateral, Explicit Prelaunch Boundary | Archive index or wildcard | High |
| Weekly Roundup by Team Kujira — Episode 3 Published 2022-09-12 | Team Kujira | Official statement or announcement Canonical: Official Blog | Subject-controlled source | Primary source | Launch Date, Usk Launch, Orca Launch, Public Minting, Same Day Public Launch | Archive index or wildcard | High |
| Introduction to the Merge Published 2025-06-30 | Rujira | Official statement or announcement Canonical: Official Statement | Subject-controlled source | Primary source | Wind Down, Interest Increase, Repayment Only, New Debt Disabled, Network Transition, Usk Wind Down and Repayment Only State | Archive index or wildcard | High |
Known unknowns
Known unknowns and coverage
Missing or disputed facts remain visible instead of being converted into certainty.| Topic | What remains unclear | Value state | Priority | Last checked |
|---|---|---|---|---|
| Repayment Completion and Final Terminal Boundary | First-party Rujira documentation establishes that new USK debt is disabled and existing debt is repayment-only. The completion of repayment, final USK terminal date, and any residual liability treatment remain unresolved. | Unknown after review | High | 2026-06-25 |
| Successor Product and Liability Migration | Rujira lending is presented as the successor borrowing venue, but a completed migration of USK token identity, debt liabilities, or holder claims has not been established. | Unknown after review | High | 2026-06-25 |
Repayment Completion and Final Terminal Boundary
First-party Rujira documentation establishes that new USK debt is disabled and existing debt is repayment-only. The completion of repayment, final USK terminal date, and any residual liability treatment remain unresolved.
- Value state
- Unknown after review
- Priority
- High
- Last checked
- 2026-06-25
Successor Product and Liability Migration
Rujira lending is presented as the successor borrowing venue, but a completed migration of USK token identity, debt liabilities, or holder claims has not been established.
- Value state
- Unknown after review
- Priority
- High
- Last checked
- 2026-06-25
Lifecycle
History
Current classification remains separate from dated changes and incidents.Model and lifecycle changes
| Date | Event | Category | Subtype | Status effect | Recovery |
|---|---|---|---|---|---|
| 2022-09-12 | Kujira launches USK and ORCA | Launch and introduction | Launch | Remained active | Not applicable |
| 2025-06-30 | Rujira announces USK wind-down and repayment-only state | Wind-down and termination | Wind Down Announced | Restricted or impaired | Not applicable |
| 2026-06-25 | USK remains limited during repayment-only wind-down | Lifecycle review | Status Review | Restricted or impaired | Not applicable |
Related records and corrections
Corrections and further reading
Open connected records, methodology, machine-readable data, or report a correction.- All stablecoinsCompare this record with the rest of the archive.
- KujiraDecentralized
- Event registry3 connected events recorded.
- MethodologyRead classification, evidence, and value-state rules.
- CorrectionsReport a source, relationship, or record problem.
- Data manifestInspect the machine-readable public layer.