KETJU Research

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Staking

Rujira Staking

Not approved Runs only on a chain that failed review
Issued
2026-09-15
Last confirmed
2026-09-15
Next check due
2026-12-15
Chains
Thorchain

Rujira Staking pays a share of application-layer revenue to stakers of RUJI and related assets on THORChain. THORChain has not passed Ketju chain-level review, so the version-1 rejected-chain dossier decides.

The research file

Mechanism applicability

Stakers commit RUJI and related assets inside the Rujira application layer and receive a share of the revenue that layer earns. The return is therefore a claim on one application business operating on one chain, not a validator reward for securing an independently reviewed network. Staking, accrual and unstaking all execute on THORChain.

Current observation and perimeter

The DefiLlama protocol API read on 2026-09-15 classified Rujira Staking under Farm and reported approximately $18.6M on a THORChain-only perimeter, listed on 2026-08-11 with no recorded audit. The yield survey the same day observed three pools, all on THORChain. This is the largest of the two Rujira records and remains entirely inside the same unreviewed perimeter.

Control and exit applicability

THORChain consensus, finality and emergency controls sit beneath every staking state transition, and no versioned Ketju control assessment exists for that chain. Revenue-share staking additionally exposes the holder to the fortunes of the application layer and to whoever sets the distribution parameters, and any unbonding period the protocol imposes is an exit constraint on top of the chain dependency.

Class rule

The rejected chain class is outside the approved structures, so every protocol in it is not approved until the rule changes. The rule is about the structure, not an adverse finding about this protocol, and it is not a client instruction. The events that would reopen it are listed with the memo.

Sources

The claims above trace to these. Where a number could not be independently verified, the thesis says so.

Inherited controls

The research above describes the protocol layer. Every position also inherits the asset it holds and the chain it settles on. The layer with the most administrative power sets the position’s effective control; that describes control, not quality or suitability.

ChainVerdictControlControl constraint
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