The page acts a repository showing earning opportunities across the ecosystem, both Automated Market Making strategies for RUJI Trade orderbook (provided by ), and opportunities such as or providing liquidity for . This list will be updated as more protocols roll out and more opportunities become available.
Before making a deposit, make sure to read the Terms & Conditions and understand the risks. Rujira is a suite of open-source, permissionless, non-custodial smart contracts—we simply provided tools, not financial advice or advice of any sort. Use the tools at your own risk.
Automated Market Making (AMM) Opportunities
XYK Strategy
Uses a pricing and order sizing algorithm replicating the standard XYK (constant product) logic used by a traditional AMM-DEX like Uniswap v2, but tailored for an orderbook DEX.
The strategy looks to maintained a 50/50 balance (in term of dollar value) between the two tokens in the pair (e.g. BTC/USDC). This means, as prices move, the strategy is selling the outperforming token (e.g. BTC) and buying the underperforming token (e.g. USDC). As prices reverse, the strategy automatically rebalance towards the initial state, but it buys back the (now underperforming) token (e.g. BTC) at a slightly lower price than what it was sold for. The difference (spread) between the price the token was sold for and the price it was bought back at, multiplied by the quantity bought/sold, net of RUJI Trade maker fee, represents the market making profit of the strategy. The return generated is automatically compounded inside the LP.
The XYK strategy can be thought of as a 50/50 index composed of two tokens that generates some yield when there is volatility. It lowers the risk of underperformance to the downside vs. a simple buy & hold strategy, but it also lowers the upside potential. An XYK strategy with half of the LP in stablecoin is a good alternative to buy & hold for the more risk-adverse profiles willing to sacrifice upside potential to mitigate downside risk.
Example: To understand the XYK Strategy's risk profile, let's look at a few scenarios:
At T=0: BTC trades at $100k, Alice and Bob have each $100 to invest, Alice uses the full amount to buy BTC; Bob puts it into a BTC/USDC XYK LP ($50 in BTC paired with $50 in USDC).
At T = 1: BTC price has dropped by -20% to $80k. Alice's buy & hold positon is now down by -20% at $80, tracking BTC loss perfectly. Thanks to the XYK strategy, Bob's LP position is only down by -10.6% at $89.4 (excluding yield); on top of that, the position generated ~$2 in market making profits, putting Bob's total position value at $91.4, down -8.6% only, doing significantly better than Alice and her buy & hold strategy in a bear market scenario.
At T = 2: BTC price has bounced back by +50% to $120k. Alice's buy & hold positon is now worth $120, up +20% vs. entry, tracking BTC gains perfectly. Bob's LP position is now worth $109.5 (excluding yield) and generated another ~$2 of yield bringing the total position value to ~$113.5, also up, but only +13.5% vs. entry. In a bull market scenario, the XYK strategy is still performing well, but not as good as Alice and her buy & hold strategy.
Key Risk: Impermanent Loss (IL) is the loss in the LP value due to the change in quantity of token X and Y during a given period, due to the AMM selling the outperforming token and buying the underperforming one. This loss is in addition to price gain/loss due to the change in prices, assuming the quantity of token X and token Y in the LP had remained the same. The loss is called "impermanent" because it reverses if prices come back at the level they were at the time of deposit.
THORChain CLP Strategy
Provides liquidity to THORChain Continuous Liquidity Pools paired with RUNE on the Base Layer, using a constant product (XYK) bonding curve. Benefits and risks are similar to those of the on the App Layer. Yield is generated from a dynamic slip-based fee, which increases alongside the size of the swaps relative to the total liquidity in the pool. LPs in the pools also receive a share of the Rujira revenue that is sent to THORChain. The slip-based fee and Rujira's revenue are distributed between LPs and THORChain Node Operators depending on the state of the . The share going to LPs is then distributed between each pool proportionally to their contribution to the total slip-based fees.
More info:
Base Layer Arbitrage Strategy
Coming soon...
Concentrated Liquidity Strategy
Coming soon...
Other Core Opportunities
Lending Vaults
Coming soon...
Perps Liquidity Provisioning
Coming soon...
Indexes
yRUNE (RUNE + TCY with yield and opportunistic rebalancing)
Deposit into yRUNE are always made from RUNE, and redemption always to RUNE.
RJI (Rujira Index: AUTO + NAMI + LQDY)
The Rujira Index (RJI) is a basket of tokens native to Rujira (AUTO, NAMI and LQDY). It is intended to capture Rujira ecosystem growth as a whole. The assets & weights are determined by a strict asset framework prioritising liquidity and legitimacy of each asset.
Deposit into RJI are always made from USDC, and redemption always to USDC.
yRUNE combines RUNE and TCY into one asset using vault infrastructure built by . It is the first liquid RUNE based asset that also captures yield from THORChain system income. With Nami's rebalancing engine, yRUNE constantly rebalances the underlying RUNE and TCY to capture price swings and market inefficiencies while taking advantage of TCY generated fees.
