Ninja Garden, the decentralized oasis within Injective.

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23 Jan 2024
99


First, let’s get acquainted with the Injective blockchain
Injective stands out as the only blockchain that offers developers a wide range of easily accessible modules, including a fully decentralized order book, allowing for the development of a wide range of complex applications. It also works as an open and interoperable platform for smart contracts. Injective provides developers with powerful plug-and-play components, creating a foundation for building unparalleled decentralized applications (dApps). Incubated by Binance, the Injective ecosystem boasts the support of leading Web3 institutions such as Pantera, Jump Crypto, Mark Cuban, and others.
With a transaction blocking time of less than one second and economical transaction fees, Injective guarantees a convenient experience for both retail and professional users.
In our desire for convenience and order, we seek a unified and organized space where everything is easily accessible and readily available. Ninja Garden emerges as the solution to bring together all elements seamlessly, ensuring a tidy, accessible, and user-friendly environment.
Regarding Ninja Garden itself, it stands as a groundbreaking Social-Fi decentralized application (DAPP) crafted on the Injective Protocol, harnessing the capabilities of the Cosmwasm language to deliver an unparalleled experience within our ecosystem. Capitalizing on Injective’s rapid blockchain speed, efficient timing, and advanced Proof-of-Stake (POS) system, Ninja Garden has been meticulously developed on Injective to provide an exceptional Social-Fi environment for every user.
Ninja Garden introduces a distinctive system that integrates the following key features:

  1. Liquid Stacking Derivative (LSD) platform — This platform creates an LSD token called gINJ, generated through liquid-stacking INJ via validators. The yield is automatically reinvested into the gINJ token, ensuring optimal returns for users engaged in INJ betting. With current INJ bets, users can achieve an impressive over 17% Annual Percentage Yield (APY) with gINJ. Importantly, gINJ is fully liquid, enabling users to trade it for INJ without undergoing a 21-day unlocking period.
  2. Social dApp — This tokenized app facilitates communication between key holders and room owners. Positioned as the ultimate hub for all things Injective, Ninja Garden strives to be the alpha center. With future additions like project pools and launchpads, Ninja Garden offers various discussion points for its users, and protocol token holders will gain access to key features.
  3. The $KUNAI token — $KUNAI is reset and distributed to Ninja Garden users based on their activity. Qualified activities encompass trading keys to enter the garden, with the generated trading volume rewarding creators for content creation in the form of $KUNAI tokens. Additionally, users opting to retain their keys are encouraged, and through innovative liquid-staking combined with the key trading platform, liquid staking revenue is generated and returned to users in the form of $KUNAI tokens. Content creators consistently producing quality content will issue KUNAI tokens, backed financially by gINJ returns, ensuring that the KUNAI token is supported by growing yields.

Regarding the KUNAI token itself, it serves as a governance token overseeing the Ninja Garden ecosystem. Ninja Garden aspires to distribute KUNAI tokens to individuals who share the garden’s vision and wish to contribute to its management. KUNAI holds a pivotal role in the future management strategy of Ninja Garden, making it an essential asset.
Out of the total issuance, only 1/10 will be gradually unlocked and allocated to the development team to sustain ongoing project development. The majority of KUNAI tokens will be deployed to earn a protocol commission, demonstrating confidence in the project. Additionally, 2/10 of KUNAI tokens are earmarked for ecosystem development, covering significant expenses like listing liquidity on CEX, incentivizing DAOs, and exchanging tokens with existing projects.
KUNAI caters to four distinct use cases:

  1. Traders: 2/10 of the total issuance is reserved for traders. KUNAI is issued to traders, with 1.15 INJ worth of KUNAI given for every INJ of profit generated. The emission rate will decrease as the garden expands, allowing early members to benefit from trading keys.
  2. Key and Room Owners: Another 2/10 of the emissions are designated for key and room owners. All INJs are converted to gINJs, initiating immediate income generation. Key owners receive rewards for holding their keys, and room holders are incentivized for promoting key retention. KUNAI is distributed to both key holders and room owners based on the TVL deposited in gINJ.
  3. Liquidity Providers of gINJ-INJ: 1/10 of the issue is reserved for liquidity providers of the gINJ-INJ pair. This liquidity pool is advantageous for INJ asset maximizers seeking to optimize returns while minimizing permanent losses. Liquidity providers enjoy trading fees, KUNAI issuance, and gINJ liquidity rate returns.
  4. KUNAI-USDT Liquidity Providers: 2/10 of the issuance is allocated for KUNAI-USDT liquidity providers aiming to profit from KUNAI volatility. To offset potential volatile losses incurred during liquidity provision, the issuance is provided.

The practical applications of KUNAI and how it contributes to our objectives: Staking KUNAI for acquiring launchpool tokens is a fundamental aspect. Ninja Garden is designed to act as a catalyst for external projects, aiding them in entering the market and evolving on Injective. External projects can offer their tokens to access Ninja Garden users, enabling KUNAI owners to effortlessly earn tokens from these external projects by participating in the garden.
The management of KUNAI will be structured to empower KUNAI owners to influence critical decisions that shape the ultimate development of Ninja Garden. This involves decisions pertaining to fee rates, issuance rates, and more.
As for the “Engage To Earn” program: The program, known as Engage To Earn, treats each room of content creators as a faction, engaging in weekly quests and competing against each other. Factions vie for rewards based on engagement in various tasks. The faction with the highest engagement secures a larger share of the weekly rewards, which are then distributed to influencers and key holders. There are no restrictions on the quantity or type of content that can be created; the only constraint is the time limit for completing each mission, set at one week.
Missions may encompass participation in any form of social media, as determined by the Ninja Garden team. These tasks can revolve around Ninja Garden and INJ in general, covering aspects such as program inclusion, getting started with INJ/Ninja Garden, and fundraising.
Furthermore, there’s a speculative points system for future airdrop speculation of $KUNAI. A leaderboard showcasing weekly winners will be implemented. The victorious factions each week may also receive additional boosts for their factions. In the future, Ninja Garden plans to allocate points based on the percentage of possession during airdrops, with users receiving a proportionate amount of points based on their complete inventory.
Liquid staking, also known as the LSD token within Ninja Garden or gINJ, is generated by engaging in liquid staking of INJ through validators. Our team is actively working on establishing our validator node in collaboration with the official INJ team.
Yields from liquid staking are automatically funneled back into the gINJ token, ensuring users receive optimal returns when betting on INJ. Presently, users can achieve an APY of over 17% with gINJ, and notably, gINJ is fully liquid, enabling users to trade it for INJ without a prolonged 21-day unlocking period.
For enhanced returns, users have the option to create gINJ-INJ Liquidity Pools (LPs), benefiting from both the APR of gINJ and the issuance of $KUNAI tokens.
Given that gINJ is derived from INJ and validation yields, the resulting price difference exhibits minimized volatility, safeguarding users against enduring permanent losses.
Engage and Earn
Revolutionizing social-fi, this initiative offers users a collaborative platform, uniting creators and followers for mutual exponential gains.
Raiding Participate in or Establish a Faction:
Each creator has the opportunity to initiate a faction, with their followers able to join after acquiring the creator’s keys.
Participate in Missions: Factions compete by interacting with Twitter posts, with engagement gauged through metrics like views, likes, and link clicks.
Conquer Bounties as a Unified Force: Factions collaborate to tackle bounties, accumulating points in the process. These points will factor into the allocation for the upcoming $KUNAI airdrop.

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